[F140BStatement of policy on penaltiesU.K.
(1)The CMA must prepare and publish a statement of policy in relation to the use of its powers under section 40A.
(2)The CMA must, in particular, include a statement about the considerations relevant to the determination of the nature and amount of any penalty imposed under section 40A.
(3)The CMA may revise its statement of policy and, where it does so, it must publish the revised statement.
(4)The CMA must consult such persons as it considers appropriate when preparing or revising its statement of policy.
(5)If the proposed statement of policy or revision relates to a matter in respect of which a regulator exercises concurrent jurisdiction, those consulted must include that regulator.
(6)In deciding whether and, if so, how to proceed under section 40A, the CMA must have regard to the statement of policy which was most recently published under this section at the time when the failure concerned occurred.]
Textual Amendments
F1Ss. 40A, 40B and cross-heading inserted (25.4.2013 for specified purposes, 1.4.2014 in so far as not already in force) by Enterprise and Regulatory Reform Act 2013 (c. 24), ss. 40(2), 103(1)(i)(3); S.I. 2014/416, art. 2(1)(b) (with Sch.)