Enterprise_and_Regulatory_Reform_Act_2013
Enterprise and Regulatory Reform Act 2013
United Kingdom legislation
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 established a UK Green Investment Bank (part 1), reformed several aspects of employment law (part 2), cut regulation (part 5) and addressed a range of other regulatory issues. The Act also strengthened 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. It implemented reforms to UK competition procedures which had been announced in March 2012.[1]