(1)The ISOP must, when carrying out its functions, have regard to—
(a)the need to facilitate competition between persons who carry out a relevant activity (except to the extent that such persons are, in accordance with or by virtue of an enactment, not subject to competition in relation to the activity);
(b)the consumer impact of a relevant activity;
(c)the whole-system impact of a relevant activity;
(d)the desirability of facilitating innovation in relation to the carrying out of relevant activities.
(2)The reference in subsection (1)(b) to the consumer impact of a relevant activity is a reference to the impact (or likely impact) of—
(a)the behaviour of persons who carry out the activity on existing and future consumers, and
(b)the behaviour of existing and future consumers on the carrying out of the activity.
(3)The reference in subsection (1)(c) to the whole-system impact of a relevant activity is a reference to the impact (or likely impact) of—
(a)the carrying out of the activity, and
(b)the behaviour of existing and future consumers in relation to the carrying out of the activity,
in relation to the carrying out of other relevant activities.