'Hopelessly outdated' legislation stopped OFT taking action over Shoprite sale

Outgoing chairman says current regulations limit the board's powers

The Office of Fair Trading should have been able to take action over the recent sale of Shoprite, but its powers are "hopelessly outdated".

That's from the outgoing chair of the board Douglas North MHK John Wannenburgh, who's been discussing the challenges he's faced during his time in the role.

Last month it was announced Tesco had bought all nine Shoprite stores on the Island, resulting in concerns from some over the lack of competition in the market.

Mr Wannenburgh says the current legislation also proved a frustration when dealing with concerns over gas billing issues: