The Competition and Consumer Protection Bill 2014 is aimed at introducing major reforms in the areas of consumer protection, the grocery goods sector as well as media mergers. Although the Government had outlined the importance of such legislation, it has taken over three years to complete the code of conduct.

The legislation has three main components:

• Merge the National Consumer Agency and Competition Authority and deliver improvements in competition law to create a watchdog with “real teeth”. This forms part of a broader reform agenda within the Department of Jobs Enterprise and Innovation which will see the number of Agencies reduced by 41 over the coming months;

• Regulate certain practices in the grocery goods sector aimed at ensuring balance and fairness between the various players in the sector – suppliers, retailers and consumers;

• Update and modernise the law on media mergers to take account of international best practice and technological developments.

Launching the new legislation this morning, Minister for Jobs, Enterprise and Innovation Richard Bruton described the new powers as “groundbreaking”.

“Firstly... it will merge the Consumer and Competition Agencies to create a powerful watchdog with real teeth acting to protect and vindicate consumers.

“Secondly, we are introducing strong regulations and powerful new investigation and enforcement powers to ensure fairness between suppliers and retailers in the grocery goods sector. However new legal requirements for record-keeping and the inclusion of certain terms in written contracts together with strong enforcement powers will ensure that these relationships are fair and sustainable,” he said.

Full report in this week’s Irish Farmers Journal.