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by Munro Research

Digital Markets, Competition and Consumers Act 2024


Official Summary

A Bill to provide for the regulation of competition in digital markets; to amend the Competition Act 1998 and the Enterprise Act 2002 and to make other provision about competition law; to make provision relating to the protection of consumer rights and to confer further such rights; and for connected purposes.

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Overview

This bill amends the Consumer Rights Act 2015 to introduce new requirements for secondary ticketing websites. These changes aim to protect consumers from inflated prices and misleading information when buying resold tickets for events.

Description

The bill adds a new clause (92A) to the Consumer Rights Act 2015, regulating secondary ticketing platforms. Key requirements include:

  • Proof of Purchase/Title: Resellers must prove they legitimately own the tickets before listing them.
  • Sales Limits: Resellers can't list more tickets than they could legally buy from the original seller.
  • Transparent Pricing: The original face value of the ticket and the reseller's name and address must be clearly displayed.
  • Overseas Sellers: Secondary ticketing websites must make it clear to overseas traders selling to UK consumers that they are subject to UK law.

The Secretary of State can issue regulations to add or amend these conditions, specify acceptable proof of purchase, and set standards for displaying seller information. These regulations require parliamentary approval. A review of the impact on the secondary ticketing market will be conducted within nine months of the bill's passing, consulting various stakeholders including ticket sellers, resellers, artists, and consumers.

Government Spending

The bill doesn't directly specify government spending figures. The costs will likely be associated with the review and the potential creation and enforcement of new regulations. The exact financial implications are not detailed in the provided text.

Groups Affected

  • Consumers: Benefit from greater protection against inflated prices and fraudulent ticket sales.
  • Secondary Ticketing Websites: Face new compliance obligations, potentially impacting their operations and profitability.
  • Ticket Resellers: Will need to demonstrate proof of legitimate ownership and comply with sales limits and disclosure requirements.
  • Artists and Performers: Could benefit from a fairer ticketing system and potentially increased revenue if fewer tickets are resold at inflated prices.
  • Ticket Primary Sellers: May experience indirect impacts depending on how the new regulations affect the secondary market.

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