THE Competition Board will be disbanded in mid-year and its functions assumed by the Competition Commission and Competition Tribunal, the board announced on Thursday. It said in a statement that, due to the Maintenance and Promotion of Competition Act 1979 being replaced by the Competition Act 1998, it has been decided that certain notices of investigations be withdrawn. “The primary reason for doing so is because the practices that have been identified for investigation will be more appropriately addressed in terms of the Competition Act 1998 than by the current act,” the statement read.