(1)In this section “offence” means an offence under this Act or subordinate legislation made under this Act.
(2)Proceedings for an offence may be instituted in England and Wales only—
(a)by the Authority or the Secretary of State; or
(b)by or with the consent of the Director of Public Prosecutions.
(3)Proceedings for an offence may be instituted in Northern Ireland only—
(a)by the Authority or the Secretary of State; or
(b)by or with the consent of the Director of Public Prosecutions for Northern Ireland.
(4)Except in Scotland, proceedings for an offence under section 203 may also be instituted by [F1the Office of Fair Trading]
(5)In exercising its power to institute proceedings for an offence, the Authority must comply with any conditions or restrictions imposed in writing by the Treasury.
(6)Conditions or restrictions may be imposed under subsection (5) in relation to—
(a)proceedings generally; or
(b)such proceedings, or categories of proceedings, as the Treasury may direct.
Textual Amendments
F1Words in s. 401 substituted (1.4.2003) by Enterprise Act 2002 (c. 40), ss. 278(1), 279, Sch. 25 para. 40(17); S.I. 2003/766, art. 2, Sch. (with art. 3)
Modifications etc. (not altering text)
C1S. 401 applied (1.12.2001) by S.I. 1995/1537, reg. 23(6) (as amended (1.12.2001) by S.I. 2001/3649, arts. 1, 509(g))
C2S. 401 amended (1.12.2001) by S.I. 2001/2657, arts. 1(1), 10(8), 11(8), 13(1)(3) (which was revoked (8.10.2001) by S.I. 2001/3083, arts. 1(2), 23); S.I. 2001/3538, art. 2(1)
S. 401 amended (1.12.2001) by S.I. 2001/3083, arts. 1(2), 10(8), 11(8), 13(1); S.I. 2001/3538, art. 2(1)
S. 401 modified (1.12.2001) by S.I. 2001/3646, arts. 1(1), 12(2), 13(3)
C3S. 401 applied by Companies (Audit, Investigations and Community Enterprise) Act 2004 (c. 27), s. 15A(7) (as substituted (6.4.2008) by The Companies Act 2006 (Consequential Amendments etc) Order 2008 (S.I. 2008/948), arts. 2(2), 3(1), Sch. 1 para. 232(2) (with arts. 6, 11, 12))
C4S. 401 applied (with modifications) (7.6.2010) by The Credit Rating Agencies Regulations 2010 (S.I. 2010/906), reg. 27
C5S. 401(2)(3)(5)(6) applied (6.3.2008) by The Regulated Covered Bonds Regulations 2008 (S.I. 2008/346), reg. 38(2)