Financial Services (Banking Reform) Act 2013

Functions of CMA to be discharged by group U.K.

1 U.K. Except where specified otherwise in this Schedule, the functions of the CMA with respect to an appeal are to be carried out on behalf of the CMA by a group constituted for the purpose by the chair of the CMA under Schedule 4 to the Enterprise and Regulatory Reform Act 2013.

Commencement Information

I1 Sch. 5 para. 1 in force at 1.3.2014 by S.I. 2014/377, art. 2(1)(a), Sch. Pt. 1

2 (1) Schedule 4 to the Enterprise and Regulatory Reform Act 2013 is amended as follows. U.K.

(2) In paragraph 35(1) (membership of CMA panel), after paragraph (c) insert—

“(ca) at least one person (a “payment systems panel member”) appointed to the CMA panel under paragraph 1(1)(b) for the purpose of being available for selection as a member of a group constituted to carry out functions on behalf of the CMA with respect to an appeal made in accordance with section 79 of the Financial Services (Banking Reform) Act 2013 (a “specialist payment systems group”);”.

(3) In paragraph 38 (membership of CMA groups), after sub-paragraph (5) insert—

“(5A) In the case of a specialist payment systems group, the group must include at least one payment systems member.”

(4) In paragraph 48 (performance of functions of chair with respect to constitution etc of CMA group), in sub-paragraph (4)(c), at the end insert—

“(v) Schedule 5 to the Financial Services (Banking Reform) Act 2013.”

Commencement Information

I2 Sch. 5 para. 2 in force at 1.3.2014 by S.I. 2014/377, art. 2(1)(a), Sch. Pt. 1