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Enterprise Act 2002 (repealed)
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Changes over time for: Section 150
Version Superseded: 01/04/2014
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- 20/06/2003- Amendment
- 15/09/2003
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Enterprise Act 2002 (repealed), Section 150 is up to date with all changes known to be in force on or before 09 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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150 Power of veto of Secretary of StateF1U.K.
This section has no associated Explanatory Notes
(1)Where an intervention notice under section 139(2) is in force, the OFT shall not, without the consent of the Secretary of State, accept the proposed undertaking concerned or a proposed undertaking which does not differ from it in any material respect.
(2)The Secretary of State shall withhold his consent if he believes that it is or may be the case that the proposed undertaking will, if accepted, operate against the public interest.
(3)For the purposes of subsection (2) a proposed undertaking will, if accepted, operate against the public interest only if any public interest consideration which is mentioned in the intervention notice concerned and has been finalised, or any public interest considerations which are so mentioned and have been finalised, outweigh the considerations which have led the OFT to propose accepting the undertaking.
(4)In making his decision under subsection (2) the Secretary of State shall accept the OFT’s view of what undertakings, if the only relevant consideration were how to remedy, mitigate or prevent the adverse effect on competition concerned or any detrimental effect on customers so far as resulting from the adverse effect on competition, would be most appropriate.
(5)Where a public interest consideration which is mentioned in the intervention notice concerned is not finalised on the giving of the notice, the Secretary of State shall not make his decision as to whether to give his consent under this section before—
(a)the end of the period of 24 weeks beginning with the giving of the intervention notice; or
(b)if earlier, the date on which the public interest consideration concerned has been finalised.
(6)Subject to subsections (2) to (5), the Secretary of State shall not withhold his consent under this section.
Textual Amendments applied to the whole legislation
F1Act: for the words "solicitor of the Supreme Court of Northern Ireland" wherever they occur there is substituted (prosp.) the words "solicitor of the Court of Judicature of Northern Ireland" by virtue of Constitutional Reform Act 2005 (c. 4), ss. 59, 148(1), Sch. 11 para. 5 [Editorial Note: this amendment will be carried through into the text of the Act at the same time as any other effects on the Act for the year in which the relevant commencement order (or first such order) is made]
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