The Competition Authority stepped up its efforts to combat price fixing and other anti-consumer practices in the Irish economy in 2004 with a number of landmark legal and economic judgments.
The authority's annual report published today reveals that in 2004 the watchdog applied for 24 search warrants, issued 58 witness summonses and undertook the first criminal prosecution under the Competition Act, 2002.
Speaking today, the authority's chairman, Dr John Fingleton, cited judgments in competition law, merger review and advocacy of competition in 2004 as milestones in the struggle against what he described as a "long legacy of anti-consumer policy and culture".
The authority's victory in the League of Credit Union case, the first full civil case resulting from public enforcement in Ireland, established that representative bodies are responsible under the law when they abuse a dominate position.
The authority was represented in court on over 100 days during the year, a figure close to the combined total of court appearances in all other years since the Authority was established in 1991.
The body prohibited the merger of IT services companies IBM and Schlumberger in 2004, the first merger to be blocked under the 2002 Competition act.
It also added conditions to Scottish Radio Holdings' takeover of FM104 and Stena's takeover of P&O - the Stena/P&O takeover was later shelved - and undertook studies in to the markets for insurance, banking and professional services in 2004.
The authority is funded by way of an annual grant from the Department of Enterprise, Trade and Employment. In 2004 the Authority's grant was €3.9 million with further €350,000 transferred for legal costs.