The Office of Fair Trading (OFT) has found that Cardiff Bus, a bus service operated by Cardiff Council, abused its dominant position by charging below cost prices. In 2004, Cardiff Bus introduced a low-cost bus service to compete with a "no frills" service offered by 2 Travel, a new-entrant to the market. When 2 Travel had gone out of business in 2005, Cardiff Bus removed its low-cost service altogether. On 18 November 2008, the OFT found that Cardiff Bus had been the only significant provider of bus services in the area and the dominant player in the market. By dropping its prices to a loss making level in order to evict the new competitor from the market, Cardiff Bus had abused its dominant position. Under the Competition Act 1998, there is limited immunity from fines for such abuse where the market effected or the turnover of the undertaking concerned is not substantial, although the OFT does have discretion to waive the immunity and impose fines where appropriate. In this instance the OFT held that the conduct was of minor significance and decided not to fine Cardiff Bus. Nevertheless, third parties that have suffered a loss as a result of Cardiff Bus's anti-competitive conduct may still bring a claim for damages. Interestingly, this is the first finding of an abuse of dominance by the OFT since 2003.