Part IV Supplemental and Transitional

75AF1Rules in relation to Part 2 and Part 2A

1

The OFT may make such rules about procedural and other matters in connection with the carrying into effect of the provisions of Parts 2 and 2A as it considers appropriate.

2

If the OFT is preparing rules under this section it must consult such persons as it considers appropriate.

3

No rule made by the OFT is to come into operation until it has been approved by an order made by the Secretary of State.

4

The Secretary of State may approve any rule made by the OFT—

a

in the form in which it is submitted; or

b

subject to such modifications as he considers appropriate.

5

If the Secretary of State proposes to approve a rule subject to modifications he must inform the OFT of the proposed modifications and take into account any comments made by the OFT.

6

Subsections (3) to (5) apply also to any alteration of the rules made by the OFT.

7

The Secretary of State may, after consulting the OFT, by order vary or revoke any rules made under this section.

8

If the Secretary of State considers that rules should be made under this section with respect to a particular matter he may direct the OFT to exercise its powers under this section and make rules about that matter.