Financial Services and Markets Act 2000

160 Reports by [F1 OFT]. U.K.

(1) The [F2 OFT] must keep the regulating provisions and the Authority’s practices under review.

(2) If at any time the [F2 OFT] considers that—

(a) a regulating provision or practice has a significantly adverse effect on competition, or

(b) two or more regulating provisions or practices taken together, or a particular combination of regulating provisions and practices, have such an effect,

[F3 the OFT] must make a report to that effect.

(3) If at any time the [F2 OFT] considers that—

(a) a regulating provision or practice does not have a significantly adverse effect on competition, or

(b) two or more regulating provisions or practices taken together, or a particular combination of regulating provisions and practices, do not have any such effect,

[F3 the OFT] may make a report to that effect.

(4) A report under subsection (2) must include details of the adverse effect on competition.

(5) If the [F2 OFT] makes a report under subsection (2) [F3 the OFT] must—

(a) send a copy of it to the Treasury, the Competition Commission and the Authority; and

(b) publish it in the way appearing to [F4 it] to be best calculated to bring it to the attention of the public.

(6) If the [F2 OFT] makes a report under subsection (3)—

(a) [F3 the OFT] must send a copy of it to the Treasury, the Competition Commission and the Authority; and

(b) [F3 the OFT] may publish it.

(7) Before publishing a report under this section the [F2 OFT] must, so far as practicable, exclude any matter which relates to the private affairs of a particular individual the publication of which, in the opinion of the [F2 OFT], would or might seriously and prejudicially affect his interests.

(8) Before publishing such a report the [F2 OFT] must, so far as practicable, exclude any matter which relates to the affairs of a particular body the publication of which, in the opinion of the [F2 OFT], would or might seriously and prejudicially affect its interests.

(9) Subsections (7) and (8) do not apply in relation to copies of a report which the [F2 OFT] is required to send under subsection (5)(a) or (6)(a).

(10) For the purposes of the law of defamation, absolute privilege attaches to any report of the [F2 OFT] under this section.

Textual Amendments

F1 Words in s. 160 sidenote substituted (1.4.2003) by Enterprise Act 2002 (c. 40), ss. 278(1), 279, Sch. 25 para. 40(3)(b); S.I. 2003/766, art. 2, Sch. (with art. 3)

F2 Words in s. 160 substituted (1.4.2003) by Enterprise Act 2002 (c. 40), ss. 278(1), 279, Sch. 25 para. 40(3)(a); S.I. 2003/766, art. 2, Sch. (with art. 3)

F3 Words in s. 160 substituted (1.4.2003) by Enterprise Act 2002 (c. 40), ss. 278(1), 279, Sch. 25 para. 40(3)(a); S.I. 2003/766, art. 2, Sch. (with art. 3)

F4 Word in s. 160 substituted (1.4.2003) by Enterprise Act 2002 (c. 40), ss. 278(1), 279, Sch. 25 para. 40(3)(a); S.I. 2003/766, art. 2, Sch. (with art. 3)