I. Introduction On 25 October 2001, the UK Office of Fair Trading (« OFT ») concluded its investigation into a Memorandum of Understanding (« MOU ») concerning the supply of oil fuels in an emergency notified to it by a number of major oil companies. The OFT found that, although the MOU had the object and effect of restricting competition within the UK, it merited an individual exemption from the Chapter I prohibition contained in the Competition Act 1998 subject to certain conditions and obligations . II. Notified agreement On 7 November 2000, the OFT received notice of a Memorandum of Understanding (« MOU ») entered into by the Government, major oil companies, oil independents, road hauliers, the police and trade unions. It was drawn up by the UK Government following the September
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