Modifications etc. (not altering text)
Prospective
(1)Where the [F2Secretary of State] is considering whether—
(a)to approve any rules which the Board is proposing to make; or
(b)to make any regulations under section 40,
he shall first send a copy of the proposed rules or regulations to the [F3OFT].
(2)The [F3OFT] shall consider whether the proposed rules or regulations would have, or would be likely to have, the effect of restricting, distorting or preventing competition to any significant extent.
(3)When the [F3OFT] has completed [F4its] consideration [F4it] shall give such advice to the [F2Secretary of State] as [F4it] thinks fit.
(4)The [F3OFT]shall keep under review the rules made by the Board and the regulations made by the [F2Secretary of State] under section 40.
(5)If the [F3OFT]is of the opinion that any such rule or regulation has, or is likely to have, the effect of restricting, distorting or preventing competition to any significant extent, [F5it] shall report [F5its] opinion to the [F2Secretary of State] .
(6)Any report under subsection (5) shall state what, in the [F6OFT’s]opinion, is the effect of the rule or regulation or its likely effect.
(7)The [F3OFT]may publish any advice given by [F7it]under subsection (3) or report made by [F7it] under subsection (5).
(8)The [F3OFT] shall, so far as practicable, exclude from anything published under subsection (7) any matter—
(a)which relates to the affairs of a particular person; and
(b)the publication of which would, or might in the [F8its] opinion, seriously and prejudicially affect the interests of that person.
Textual Amendments
F1Words in s. 45 sidenote substituted (1.4.2003) by 2002 c. 40, ss. 278, 279, Sch. 25, para. 23(2)(g); S.I. 2003/766, art. 2, Sch. (with art. 3)
F2Words in ss. 43-45 substituted (19.8.2003) by The Secretary of State for Constitutional Affairs Order 2003 (S.I. 2003/1887), art. 9, Sch. 2 para. 8(1)(a) (with arts. 6, 8)
F3Words in s. 45 substituted (1.4.2003) by 2002 c. 40, ss. 278, 279, Sch. 25, para. 23(2)(a); S.I. 2003/766, art. 2, Sch. (with art. 3)
F4Words in s. 45(3) substituted (1.4.2003) by 2002 c. 40, ss. 278, 279, Sch. 25, para. 23(2)(b); S.I. 2003/766, art. 2, Sch. (with art. 3)
F5Words in s. 45(5) substituted (1.4.2003) by 2002 c. 40, ss. 278, 279, Sch. 25, para. 23(2)(c); S.I. 2003/766, art. 2, Sch. (with art. 3)
F6Word in s. 45(6) substituted (1.4.2003) by 2002 c. 40, ss. 278, 279, Sch. 25, para. 23(2)(d); S.I. 2003/766, art. 2, Sch. (with art. 3)
F7Words in s. 45(7) substituted (1.4.2003) by 2002 c. 40, ss. 278, 279, Sch. 25, para. 23(2)(e); S.I. 2003/766, art. 2, Sch. (with art. 3)
F8Word in s. 45(8)(b) substituted (1.4.2003) by 2002 c. 40, ss. 278, 279, Sch. 25, para. 23(f); S.I. 2003/766, art. 2, Sch. (with art. 3)