The London Olympic Games and Paralympic Games Bill has been granted Royal Assent, the final stage an Act of Parliament must go through to become law.

Lord Coe, chair of the London Organising Committee of the Olympic Games (LOCOG), welcomed the news.

“It is a tribute to cross-party co-operation that this Bill has become an Act of Parliament less than nine months after we were awarded the 2012 Games,” he said.

The Olympic Delivery Authority (ODA), responsible for building the venues and the infrastructure of the Games, has been formally established from the interim ODA, led by Jack Lemley and David Higgins, and will be granted planning powers.

The act will also help LOCOG prevent unauthorised links with the Games – otherwise known as ‘ambush marketing’ – which means that only official sponsors and stakeholders of LOCOG and the International Olympic Committee (IOC), will be permitted to use the Olympic or Games-related trademarks in their promotions.

Lord Coe said: “The restrictions on unlawful advertising and ambush marketing are vital to LOCOG as sponsorship revenue is a key contributor to our £2bn operating budget.”

Among other things, the act will also make ticket touting in relation to the Games an offence, and let LOCOG control outdoor advertising and street trading near Olympic venues to ensure the Games are not over-commercialised. www.london2012.org