Under its current remit, the ASA adjudicates complaints about newspaper, magazine, poster, cinema and internet advertising. Ofcom, the communications regulator formed last year, was solely in charge of radio and TV.
The initiative was approved by the House of Commons last week but was only made law after the House of Lords approval today.
The changeover date is set for November 1. As part of the approval, Ofcom can still be included on the final say for any future changes to regulatory control.
The communications regulator has recommended a new body, the Advertising Standards Authority (Broadcast), be set up to handle TV ad complaints, while the Broadcast Committee of Advertising Practice will monitor and review advertising standards.
The final body, the Broadcast Advertising Standards Board of Finance, will be set up to fund the regulator by being paid a small levy on all broadcast ads.
The regulation shake-up is likely to cause controversy among some consumer groups, who have heavily criticised the ASA for not doing enough to regulate junk food advertising, which has been linked to rise in child obesity.
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