Part II Eligibility for Appointment as Company Auditor
Supplementary provisions
47 Restrictive practices.
(1)
The provisions of Schedule 14 have effect with respect to certain matters relating to restrictive practices and competition law.
(2)
The Secretary of State may make provision by regulations as to the discharge of the functions under paragraphs 1 to 7 of that Schedule when a delegation order is in force.
(3)
The regulations may—
(a)
except any function from the effect of the delegation order,
(b)
modify any of the provisions mentioned in subsection (2), and
(c)
impose such duties on the body established by the delegation order, the Secretary of State and Director General of Fair Trading as appear to the Secretary of State to be appropriate.
(4)
The regulations shall contain such provision as appears to the Secretary of State to be necessary or expedient for reserving to him the decision—
(a)
to refuse recognition on the ground mentioned in paragraph 1(3) of that Schedule, or
(b)
to exercise the powers conferred by paragraph 6 of that Schedule.
(5)
For that purpose the regulations may—
(a)
prohibit the body from granting a recognition order without the leave of the Secretary of State, and
(b)
empower the Secretary of State to direct the body to exercise its powers in such manner as may be specified in the direction.
(6)
Regulations under this section shall be made by statutory instrument which shall be subject to annulment in pursuance of a resolution of either House of Parliament.