The formulation and implementation of UK competition policy has traditionally
involved a variety of agencies including the Department of Trade and Industry, the Office
of Fair Trading, the Monopolies and Mergers Commission and the Mergers Panel. Of
these, the MMC (now the Competition Commission) and OFT deserve special attention.
From its foundation in 1948 until its replacement in 1999, the Monopolies and
Mergers Commission remained a statutory body