These Regulations are made in exercise of the powers conferred by section 8(1) of the European Union (Withdrawal) Act 2018 (c.16) in order to address failures of retained EU law to operate effectively and other deficiencies (in particular under paragraphs (b) and (c) of section 8(2)) arising from the withdrawal of the United Kingdom from the European Union. They amend the Competition (Amendment etc.) (EU Exit) Regulations 2019 (SI 2019/93)(‘the principal Regulations’) to–

• — retain as a matter of domestic law decisions made by the European Commission which have the effect of making binding commitments given by parties in the context of anti-trust investigations and merger clearance functions, amend those decisions and commitments so that they operate effectively, and give powers to the Competition and Markets Authority to amend, waive, release and enforce those retained commitments in the future. This will allow the CMA to perform the functions previously undertaken by the Commission in relation to the United Kingdom; and

• — make clarifications to the transitional provisions that apply in relation to claims for damages for loss arising out of competition infringements.

Part 2 amends the principal Regulations to amend the Competition Act 1998 (c.41). Part 3 amends the principal Regulations to amend the Enterprise Act 2002 (c. 40). Part 4 makes amendments to the principal Regulations to amend other primary legislation consequential to the amendments to the Enterprise Act 2002. Part 5 makes amendments to the principal Regulations to amend subordinate legislation, consequential to the amendments to the Competition Act 1998. Part 6 makes amendments to the principal Regulations to make further amendments and provisions relating to the revocation of retained EU law. Part 7 amends the transitional and savings provisions in the principal Regulations, in particular, to clarify the transitional provisions which apply in relation to claims for damages for loss arising out of competition infringements.

An impact assessment has not been produced for this instrument as no significant impact on the private or voluntary sector is foreseen.