PART III

The Competition Authority

10. —(1) There shall be a body to be known as the Competition Authority to exercise the functions assigned to it by this Act.

(2) The Authority shall stand established on such day as the Minister may by order appoint.

(3) The Authority shall in particular discharge any function of the Fair Trade Commission under the Act of 1972 not completed at the commencement of this section and, accordingly, sections 7 and 8 of the Act of 1978 are amended by the substitution of references to the Authority for references to the Fair Trade Commission.

(4) The provisions of the Schedule shall have effect in relation to the Authority.

11. —The Authority may, at the request of the Minister, study and analyse and, when requested by the Minister, report to him the results of any such study or analysis, any practice or method of competition affecting the supply and distribution of goods or the provision of services. A study or analysis may consist of, or include, a study or analysis of any development outside the State.

12. —(1) The Authority shall submit to the Minister an annual report of its activities within four months of the end of each year.

(2) The Minister shall lay before each House of the Oireachtas a copy of every such report within four months of receiving the report.