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About: Enterprise and Regulatory Reform Act 2013     Goto   Sponge   NotDistinct   Permalink

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The Enterprise and Regulatory Reform Act 2013 (c 24), also known as ERRA, is a major Act of the Parliament of the United Kingdom aimed at reforming the regulatory environment faced by small and medium-sized business. It establishes a UK Green Investment Bank (part 1), reformed several aspects of employment law (part 2), cut regulation (part 5) and address a miscellany of other regulatory issues. The Act also strengthens the regulatory settlement on mergers and anti-competitive behaviour (parts 3 and 4). In doing so, part 3 of the Act established a new combined Competition and Markets Authority, which took over the functions of the Office of Fair Trading and the Competition Commission. It received Royal Assent on 25 April 2013.