Explanatory Notes

Enterprise Act 2002

2002 CHAPTER 40

7 November 2002


15.The Act implements a pledge in the Government’s 2001 election manifesto to give more independence to the competition authorities, to reform the bankruptcy laws and to tackle trading practices that harm consumers. The White Paper ‘Productivity in the UK: Enterprise and the Productivity Challenge’ (available at http://www.hmt.gov.uk/mediastore/otherfiles/26.pdf), published in June 2001, set out the Government’s intention to focus on enterprise and productivity as the cornerstone of its economic reforms in this Parliament. The specific measures in this Act were foreshadowed by three White Papers: ‘Productivity and Enterprise: A World Class Competition Regime’ (Cm 5233) and ‘Productivity and Enterprise: Insolvency – A Second Chance’ (Cm 5234) published in July 2001, and ‘Modern Markets: Confident Consumers’ (Cm 4410), published in July 1999.

16.The main provisions of the Act are: