Directive of the European Parliament and of the Council of 20th March 2000 relating to the taking up and pursuit of the business of credit institutions (O.J. No. L 126, 26.5.2000, p. 1).

1998 c. 41.

Sch. 2 para. 1 in force at 26.11.2001, see reg. 1

Sch. 2 para. 2 in force at 26.11.2001, see reg. 1

Sch. 2 para. 3 in force at 26.11.2001, see reg. 1

Sch. 2 para. 4 in force at 26.11.2001, see reg. 1

Sch. 2 para. 6 in force at 26.11.2001, see reg. 1

Sch. 2 para. 7 in force at 26.11.2001, see reg. 1

Words in Sch. 2 para. 3 cross-heading substituted (20.6.2003) by The Enterprise Act 2002 (Consequential and Supplemental Provisions) Order 2003 (S.I. 2003/1398), art. 1, Sch. para. 43(2)(a)(vi)

Sch. 2 paras. 4A, 4B inserted (20.6.2003) by The Enterprise Act 2002 (Consequential and Supplemental Provisions) Order 2003 (S.I. 2003/1398), art. 1, Sch. para. 43(2)(c)

Sch. 2 paras. 4A, 4B inserted (20.6.2003) by The Enterprise Act 2002 (Consequential and Supplemental Provisions) Order 2003 (S.I. 2003/1398), art. 1, Sch. para. 43(2)(c)

Words in Sch. 2 para. 3(1) substituted (20.6.2003) by The Enterprise Act 2002 (Consequential and Supplemental Provisions) Order 2003 (S.I. 2003/1398), art. 1, Sch. para. 43(2)(a)(i)

Word in Sch. 2 para. 3(2)-(8) substituted (20.6.2003) by The Enterprise Act 2002 (Consequential and Supplemental Provisions) Order 2003 (S.I. 2003/1398), art. 1, Sch. para. 43(2)(a)(ii)

Word in Sch. 2 para. 3(2)-(6)(8) substituted (20.6.2003) by The Enterprise Act 2002 (Consequential and Supplemental Provisions) Order 2003 (S.I. 2003/1398), art. 1, Sch. para. 43(2)(a)(iii)

Word in Sch. 2 para. 3(2)(4)(b) substituted (20.6.2003) by The Enterprise Act 2002 (Consequential and Supplemental Provisions) Order 2003 (S.I. 2003/1398), art. 1, Sch. para. 43(2)(a)(iv)

Word in Sch. 2 para. 3(4)(6)(8) substituted (20.6.2003) by The Enterprise Act 2002 (Consequential and Supplemental Provisions) Order 2003 (S.I. 2003/1398), art. 1, Sch. para. 43(2)(a)(v)

Word in Sch. 2 para. 4(1) substituted (20.6.2003) by The Enterprise Act 2002 (Consequential and Supplemental Provisions) Order 2003 (S.I. 2003/1398), art. 1, Sch. para. 43(2)(b)(i)

Word in Sch. 2 para. 4(1) substituted (20.6.2003) by The Enterprise Act 2002 (Consequential and Supplemental Provisions) Order 2003 (S.I. 2003/1398), art. 1, Sch. para. 43(2)(b)(ii)

Word in Sch. 2 para. 4(1)(a) substituted (20.6.2003) by The Enterprise Act 2002 (Consequential and Supplemental Provisions) Order 2003 (S.I. 2003/1398), art. 1, Sch. para. 43(2)(b)(iii)

Sch. 2 para. 4(3) revoked (20.6.2003) by The Enterprise Act 2002 (Consequential and Supplemental Provisions) Order 2003 (S.I. 2003/1398), art. 1, Sch. para. 43(2)(b)(iv)

Sch. 2 para. 5 revoked (20.6.2003) by The Enterprise Act 2002 (Consequential and Supplemental Provisions) Order 2003 (S.I. 2003/1398), art. 1, Sch. para. 43(2)(d)

http://www.legislation.gov.uk/uksi/2001/3755/schedule/2/2003-06-24The Uncertificated Securities Regulations 2001LegislationLocal governmentCOMPANIESStatute Law Database2024-10-10Expert Participation2003-06-24SCHEDULE 2

Regulation 13

PREVENTION OF RESTRICTIVE PRACTICESExamination of rules and practices11

The Treasury shall not approve a person as Operator of a relevant system unless they are satisfied that the rules and any guidance of which copies are furnished with the application for approval—

a

do not have, and are not intended or likely to have, to any significant extent the effect of restricting, distorting or preventing competition; or

b

if they have or are intended to have that effect to any significant extent, that the effect is not greater than is necessary for the protection of investors, or for compliance with Directive 2000/12/EC of the European Parliament and of the Council.

2

Subject to subparagraph (5), the powers conferred by subparagraph (3) shall be exercisable by the Treasury if at any time it appears to them that—

a

any rules made or guidance issued by an Operator;

b

any practices of an Operator in his capacity as such; or

c

any practices of a system-user,

have, or are intended or likely to have, to a significant extent the effect of restricting, distorting or preventing competition and that the effect is greater than is necessary for the protection of investors or for compliance with Directive 2000/12/EC of the European Parliament and of the Council.

3

The powers exercisable under this paragraph are—

a

to withdraw approval from the Operator;

b

to direct the Operator to take specified steps for the purpose of securing that the rules, guidance or practices in question do not have the effect mentioned in subparagraph (2); or

c

to make alterations in the rules of the Operator for that purpose.

4

The practices referred to in subparagraph (2)(c) are practices in relation to business in respect of which system-users are subject to the rules of the Operator and which are required or contemplated by his rules or guidance or otherwise attributable to his conduct in his capacity as Operator.

5

The provisions of Schedule 3 shall apply as regards the procedure to be followed before—

a

refusing to approve a person as Operator of a relevant system pursuant to subparagraph (1); or

b

exercising any of the powers conferred by subparagraph (3).

Modification of paragraph 1 where delegation order is made21

This paragraph applies instead of paragraph 1 where the function of approving a person as Operator has been delegated to the designated agency by virtue of regulation 11.

2

The designated agency—

a

shall send to the Treasury a copy of the rules and any guidance copies of which accompany the application for approval together with any other information supplied with or in connection with the application; and

b

shall not grant the approval without the leave of the Treasury,

and the Treasury shall not give leave in any case in which they would (apart from the delegation of functions to the designated agency) have been precluded by paragraph 1(1) from granting approval.

3

The designated agency shall send to the Treasury a copy of any notice received by it from an Operator under regulation 10(5).

4

If at any time it appears to the Treasury that there are circumstances such that (apart from the delegation of functions to the designated agency) they would have been able to exercise any of the powers conferred by paragraph 1(3) they may, notwithstanding the delegation of functions to the designated agency but subject to paragraph 1(5)—

a

themselves exercise the power conferred by paragraph 1(3)(a); or

b

direct the designated agency to exercise the power conferred by paragraph 1(3)(b) or (c) in such manner as they may specify.

5

The provisions of Schedule 3 shall apply as regards the procedure to be followed before the Treasury exercise their power to refuse leave under subparagraph (2), or their power to give a direction under subparagraph (4), in respect of an Operator.

Reports by the Office of Fair Trading31

The Treasury shall before deciding—

a

whether to refuse to approve a person as Operator of a relevant system pursuant to paragraph 1(1); or

b

whether to refuse leave for the granting of an approval pursuant to paragraph 2(2),

send to the Office of Fair Trading (in this Schedule referred to as “the OFT") a copy of the rules and of any guidance which the Treasury are required to consider in making that decision together with such other information as the Treasury consider will assist in discharging its functions under subparagraph (2).

2

The OFT shall report to the Treasury whether, in its opinion, the rules and guidance copies of which are sent to it under subparagraph (1) have, or are intended or likely to have, to any significant extent the effect of restricting, distorting or preventing competition and, if so, what that effect is likely to be; and in making any decision as is mentioned in subparagraph (1) the Treasury shall have regard to the OFT's report.

3

The Treasury shall send to the OFT copies of any notice received by them under regulation 10(5) or paragraph 2(3) together with such other information as the Treasury consider will assist the OFT in discharging its functions under subparagraphs (4) and (5).

4

The OFT shall keep under review—

a

the rules, guidance and practices mentioned in paragraph 1(2); and

b

the matters specified in the notices of which copies are sent to it under subparagraph (3),

and if at any time it is of the opinion that any such rules or guidance taken together with any such matters, have, or are intended or likely to have, to any significant extent the effect mentioned in subparagraph (2), it shall report its opinion to the Treasury stating what in its opinion that effect is or is likely to be.

5

The OFT may report to the Treasury its opinion that any such matter as is mentioned in subparagraph (4)(b) does not in its opinion have, and is not intended or likely to have, to any significant extent the effect mentioned in subparagraph (2).

6

The OFT may from time to time consider whether any such practices as are mentioned in paragraph 1(2) have, or are intended or likely to have, to any significant extent the effect mentioned in subparagraph (2) and, if so, what that effect is or is likely to be; and if it is of that opinion it shall make a report to the Treasury stating its opinion and what the effect is or is likely to be.

7

The Treasury shall not exercise their powers under paragraph 1(3) or 2(4) except after receiving a report from the OFT under subparagraph (4) or (6).

8

The OFT may, if it thinks fit, publish any report made by him under this paragraph but shall exclude from a published report, so far as practicable, any matter which relates to the affairs of a particular person (other than the person seeking approval as an Operator) the publication of which would or might in its opinion seriously and prejudicially affect the interests of that person.

Investigations by the Office of Fair Trading41

For the purpose of investigating any matter with a view to its consideration under paragraph 3 the OFT may by a notice in writing—

a

require any person to produce, at any time and place specified in the notice, to the OFT or to any person appointed by it for the purpose, any documents which are specified or described in the notice and which are documents in its custody or under its control and relating to any matter relevant to the investigation; or

b

require any person carrying on business to furnish to the OFT such information as may be specified or described in the notice, and specify the time within which, and the manner and form in which, any such information is to be furnished.

2

A person shall not under this paragraph be required to produce any document or disclose any information which he would be entitled to refuse to produce or disclose on grounds of legal professional privilege in proceedings in the High Court or on grounds of confidentiality as between client and professional legal adviser in proceedings in the Court of Session.

3

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Enforcement4A1

The court may, on an application by the OFT, enquire into whether any person (“the defaulter”) has refused or otherwise failed, without reasonable excuse, to comply with a notice under paragraph 4(1).

2

An application under sub-paragraph (1) shall include details of the possible failure which the OFT considers has occurred.

3

In enquiring into a case under sub-paragraph (1), the court shall hear any witness who may be produced against or on behalf of the defaulter and any statement which may be offered in defence.

4

Sub-paragraphs (5) and (6) apply where the court is satisfied, after hearing any witnesses and statements as mentioned in sub-paragraph (3), that the defaulter has refused or otherwise failed, without reasonable excuse, to comply with a notice under paragraph 4(1).

5

The court may punish the defaulter as it would have been able to punish him had he been guilty of contempt of court.

6

Where the defaulter is a body corporate or is a partnership constituted under the law of Scotland, the court may punish any director, officer or (as the case may be) partner of the defaulter as it would have been able to punish that director, officer or partner had he been guilty of contempt of court.

7

In this paragraph “the court”—

a

in relation to England and Wales or Northern Ireland, means the High Court, and

b

in relation to Scotland, means the Court of Session.

4B1

A person commits an offence if he intentionally alters, suppresses or destroys a document which he has been required to produce by a notice under paragraph 4(1).

2

A person who commits an offence under sub-paragraph (1) shall be liable—

a

on summary conviction, to a fine not exceeding the statutory maximum;

b

on conviction on indictment, to imprisonment for a term not exceeding two years or to a fine or to both.

Enforcement4A1

The court may, on an application by the OFT, enquire into whether any person (“the defaulter”) has refused or otherwise failed, without reasonable excuse, to comply with a notice under paragraph 4(1).

2

An application under sub-paragraph (1) shall include details of the possible failure which the OFT considers has occurred.

3

In enquiring into a case under sub-paragraph (1), the court shall hear any witness who may be produced against or on behalf of the defaulter and any statement which may be offered in defence.

4

Sub-paragraphs (5) and (6) apply where the court is satisfied, after hearing any witnesses and statements as mentioned in sub-paragraph (3), that the defaulter has refused or otherwise failed, without reasonable excuse, to comply with a notice under paragraph 4(1).

5

The court may punish the defaulter as it would have been able to punish him had he been guilty of contempt of court.

6

Where the defaulter is a body corporate or is a partnership constituted under the law of Scotland, the court may punish any director, officer or (as the case may be) partner of the defaulter as it would have been able to punish that director, officer or partner had he been guilty of contempt of court.

7

In this paragraph “the court”—

a

in relation to England and Wales or Northern Ireland, means the High Court, and

b

in relation to Scotland, means the Court of Session.

4B1

A person commits an offence if he intentionally alters, suppresses or destroys a document which he has been required to produce by a notice under paragraph 4(1).

2

A person who commits an offence under sub-paragraph (1) shall be liable—

a

on summary conviction, to a fine not exceeding the statutory maximum;

b

on conviction on indictment, to imprisonment for a term not exceeding two years or to a fine or to both.

Exemptions from the Fair Trading Act 19735

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Exemptions from the Competition Act 199861

The Chapter I prohibition does not apply to —

a

an agreement for the constitution of an Operator; or

b

an agreement for the constitution of a person who has applied for approval as an Operator in accordance with these Regulations and whose application has not yet been determined,

to the extent to which the agreement relates to rules made or guidance issued by the Operator.

2

The Chapter I prohibition does not apply to a decision made by an Operator to the extent to which the decision relates to any of the rules made or guidance issued by that Operator or to the Operator’s specified practices.

3

The Chapter I prohibition does not apply to the specified practices of—

a

an Operator; or

b

a person who is subject to the rules of an Operator.

4

The Chapter I prohibition does not apply to any agreement the parties to which consist of or include—

a

an Operator; or

b

a person who is subject to the rules of an Operator,

to the extent to which the agreement consists of provisions the inclusion of which is required or contemplated by these Regulations or by any rules made or guidance issued by the Operator or by the Operator’s specified practices.

5

In this paragraph—

“the Chapter I prohibition” means the prohibition imposed by section 2(1) of the Competition Act 1998; and

“specified practices” means—

a

any practices of an Operator in its capacity as such; or

b

any practices of persons who are members of, or otherwise subject to rules made by, an Operator and which are practices—

i

in relation to business in respect of which the persons in question are subject to the rules of the Operator where those practices are required or contemplated by the rules of the Operator or by guidance issued by the Operator; or

ii

otherwise attributable to the conduct of the Operator as such;

and expressions used in this paragraph which are also used in Part I of the Competition Act 1998 are to be interpreted in the same way as for the purposes of that Part of that Act.

Supplementary provisions71

Any direction given under this Schedule shall, on the application of the person by whom it was given, be enforceable by injunction or, in Scotland, by an order for specific performance under section 45 of the Court of Session Act 1988.

2

The fact that any rules made by an Operator have been altered by or pursuant to a direction given by the Treasury under this Schedule shall not preclude their subsequent alteration or revocation by the Operator.

3

In determining under this Schedule whether any guidance has, or is likely to have, any particular effect the Treasury and the Director may assume that the persons to whom it is addressed will act in conformity with it.

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<notes source="#source">
<note class="footnote" eId="f00022">
<p>
Directive of the European Parliament and of the Council of 20th March 2000 relating to the taking up and pursuit of the business of credit institutions (O.J.
<abbr title="Number" xml:lang="">No.</abbr>
L 126, 26.5.2000, p. 1).
</p>
</note>
<note class="footnote" eId="f00024">
<p>
<ref href="http://www.legislation.gov.uk/id/ukpga/1998/41">1998 c. 41</ref>
.
</p>
</note>
<note class="commentary I" eId="key-4c47d86420b60ee2b838ee6c611c8436">
<p>
Sch. 2 para. 1 in force at 26.11.2001, see
<ref href="http://www.legislation.gov.uk/id/uksi/2001/3755/regulation/1">reg. 1</ref>
</p>
</note>
<note class="commentary I" eId="key-01ebe1651ad2862e29b137be863f3055">
<p>
Sch. 2 para. 2 in force at 26.11.2001, see
<ref href="http://www.legislation.gov.uk/id/uksi/2001/3755/regulation/1">reg. 1</ref>
</p>
</note>
<note class="commentary I" eId="key-c08b05703b83ea72949554092b39034c">
<p>
Sch. 2 para. 3 in force at 26.11.2001, see
<ref href="http://www.legislation.gov.uk/id/uksi/2001/3755/regulation/1">reg. 1</ref>
</p>
</note>
<note class="commentary I" eId="key-389ddd24ad1013061ec94f6cf33e092f">
<p>
Sch. 2 para. 4 in force at 26.11.2001, see
<ref href="http://www.legislation.gov.uk/id/uksi/2001/3755/regulation/1">reg. 1</ref>
</p>
</note>
<note class="commentary I" eId="key-b0698d6b75622cb98fbeae9325db50eb">
<p>
Sch. 2 para. 6 in force at 26.11.2001, see
<ref href="http://www.legislation.gov.uk/id/uksi/2001/3755/regulation/1">reg. 1</ref>
</p>
</note>
<note class="commentary I" eId="key-2d05ec9a44b5f86d8f64a96711ab612e">
<p>
Sch. 2 para. 7 in force at 26.11.2001, see
<ref href="http://www.legislation.gov.uk/id/uksi/2001/3755/regulation/1">reg. 1</ref>
</p>
</note>
<note class="commentary F" eId="key-61790165d62cb59d201a76424a0bea22">
<p>
Words in
<ref href="http://www.legislation.gov.uk/id/uksi/2001/3755/schedule/2/crossheading/reports-by-the-director-general-of-fair-trading">Sch. 2 para. 3 cross-heading</ref>
substituted (20.6.2003) by
<ref href="http://www.legislation.gov.uk/id/uksi/2003/1398">The Enterprise Act 2002 (Consequential and Supplemental Provisions) Order 2003 (S.I. 2003/1398)</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/2003/1398/article/1">art. 1</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/2003/1398/schedule/paragraph/43/2/a/vi">Sch. para. 43(2)(a)(vi)</ref>
</p>
</note>
<note class="commentary F" eId="key-71c93975905fb3175ed0f8c0e6d7ab07">
<p>
<ref href="http://www.legislation.gov.uk/id/uksi/2001/3755/schedule/2/paragraph/4A">Sch. 2 paras. 4A</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/2001/3755/schedule/2/paragraph/4B">4B</ref>
inserted (20.6.2003) by
<ref href="http://www.legislation.gov.uk/id/uksi/2003/1398">The Enterprise Act 2002 (Consequential and Supplemental Provisions) Order 2003 (S.I. 2003/1398)</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/2003/1398/article/1">art. 1</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/2003/1398/schedule/paragraph/43/2/c">Sch. para. 43(2)(c)</ref>
</p>
</note>
<note class="commentary F" eId="key-a3fff3eb96c7233eb1425f8e12acdfc0">
<p>
<ref href="http://www.legislation.gov.uk/id/uksi/2001/3755/schedule/2/paragraph/4A">Sch. 2 paras. 4A</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/2001/3755/schedule/2/paragraph/4B">4B</ref>
inserted (20.6.2003) by
<ref href="http://www.legislation.gov.uk/id/uksi/2003/1398">The Enterprise Act 2002 (Consequential and Supplemental Provisions) Order 2003 (S.I. 2003/1398)</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/2003/1398/article/1">art. 1</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/2003/1398/schedule/paragraph/43/2/c">Sch. para. 43(2)(c)</ref>
</p>
</note>
<note class="commentary F" eId="key-ff0969b021218ebd4c9b3640b3963ff2">
<p>
Words in
<ref href="http://www.legislation.gov.uk/id/uksi/2001/3755/schedule/2/paragraph/3/1">Sch. 2 para. 3(1)</ref>
substituted (20.6.2003) by
<ref href="http://www.legislation.gov.uk/id/uksi/2003/1398">The Enterprise Act 2002 (Consequential and Supplemental Provisions) Order 2003 (S.I. 2003/1398)</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/2003/1398/article/1">art. 1</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/2003/1398/schedule/paragraph/43/2/a/i">Sch. para. 43(2)(a)(i)</ref>
</p>
</note>
<note class="commentary F" eId="key-58420519b35087a88963ade69ca924d5">
<p>
Word in
<rref from="http://www.legislation.gov.uk/id/uksi/2001/3755/schedule/2/paragraph/3/2" upTo="http://www.legislation.gov.uk/id/uksi/2001/3755/schedule/2/paragraph/3/8">Sch. 2 para. 3(2)-(8)</rref>
substituted (20.6.2003) by
<ref href="http://www.legislation.gov.uk/id/uksi/2003/1398">The Enterprise Act 2002 (Consequential and Supplemental Provisions) Order 2003 (S.I. 2003/1398)</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/2003/1398/article/1">art. 1</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/2003/1398/schedule/paragraph/43/2/a/ii">Sch. para. 43(2)(a)(ii)</ref>
</p>
</note>
<note class="commentary F" eId="key-d4a150542d203ebca6d465e26d2033a8">
<p>
Word in
<rref from="http://www.legislation.gov.uk/id/uksi/2001/3755/schedule/2/paragraph/3/2" upTo="http://www.legislation.gov.uk/id/uksi/2001/3755/schedule/2/paragraph/3/6">Sch. 2 para. 3(2)-(6)(8)</rref>
substituted (20.6.2003) by
<ref href="http://www.legislation.gov.uk/id/uksi/2003/1398">The Enterprise Act 2002 (Consequential and Supplemental Provisions) Order 2003 (S.I. 2003/1398)</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/2003/1398/article/1">art. 1</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/2003/1398/schedule/paragraph/43/2/a/iii">Sch. para. 43(2)(a)(iii)</ref>
</p>
</note>
<note class="commentary F" eId="key-2bec939699fba9c303429cc96d7e24ba">
<p>
Word in
<ref href="http://www.legislation.gov.uk/id/uksi/2001/3755/schedule/2/paragraph/3/2">Sch. 2 para. 3(2)</ref>
<ref href="http://www.legislation.gov.uk/id/uksi/2001/3755/schedule/2/paragraph/3/4/b">(4)(b)</ref>
substituted (20.6.2003) by
<ref href="http://www.legislation.gov.uk/id/uksi/2003/1398">The Enterprise Act 2002 (Consequential and Supplemental Provisions) Order 2003 (S.I. 2003/1398)</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/2003/1398/article/1">art. 1</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/2003/1398/schedule/paragraph/43/2/a/iv">Sch. para. 43(2)(a)(iv)</ref>
</p>
</note>
<note class="commentary F" eId="key-3a33fd7c1c3bd10463a87b9a976eb02f">
<p>
Word in
<ref href="http://www.legislation.gov.uk/id/uksi/2001/3755/schedule/2/paragraph/3/4/b">Sch. 2 para. 3(4)</ref>
<ref href="http://www.legislation.gov.uk/id/uksi/2001/3755/schedule/2/paragraph/3/6">(6)</ref>
<ref href="http://www.legislation.gov.uk/id/uksi/2001/3755/schedule/2/paragraph/3/8">(8)</ref>
substituted (20.6.2003) by
<ref href="http://www.legislation.gov.uk/id/uksi/2003/1398">The Enterprise Act 2002 (Consequential and Supplemental Provisions) Order 2003 (S.I. 2003/1398)</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/2003/1398/article/1">art. 1</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/2003/1398/schedule/paragraph/43/2/a/v">Sch. para. 43(2)(a)(v)</ref>
</p>
</note>
<note class="commentary F" eId="key-9af04f35c5efe27f030b65925f11f766">
<p>
Word in
<ref href="http://www.legislation.gov.uk/id/uksi/2001/3755/schedule/2/paragraph/4/1">Sch. 2 para. 4(1)</ref>
substituted (20.6.2003) by
<ref href="http://www.legislation.gov.uk/id/uksi/2003/1398">The Enterprise Act 2002 (Consequential and Supplemental Provisions) Order 2003 (S.I. 2003/1398)</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/2003/1398/article/1">art. 1</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/2003/1398/schedule/paragraph/43/2/b/i">Sch. para. 43(2)(b)(i)</ref>
</p>
</note>
<note class="commentary F" eId="key-2424904ef43338612cd5f15bf726c33e">
<p>
Word in
<ref href="http://www.legislation.gov.uk/id/uksi/2001/3755/schedule/2/paragraph/4/1">Sch. 2 para. 4(1)</ref>
substituted (20.6.2003) by
<ref href="http://www.legislation.gov.uk/id/uksi/2003/1398">The Enterprise Act 2002 (Consequential and Supplemental Provisions) Order 2003 (S.I. 2003/1398)</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/2003/1398/article/1">art. 1</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/2003/1398/schedule/paragraph/43/2/b/ii">Sch. para. 43(2)(b)(ii)</ref>
</p>
</note>
<note class="commentary F" eId="key-ee1d0ee450615724b98d1312749c4823">
<p>
Word in
<ref href="http://www.legislation.gov.uk/id/uksi/2001/3755/schedule/2/paragraph/4/1/a">Sch. 2 para. 4(1)(a)</ref>
substituted (20.6.2003) by
<ref href="http://www.legislation.gov.uk/id/uksi/2003/1398">The Enterprise Act 2002 (Consequential and Supplemental Provisions) Order 2003 (S.I. 2003/1398)</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/2003/1398/article/1">art. 1</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/2003/1398/schedule/paragraph/43/2/b/iii">Sch. para. 43(2)(b)(iii)</ref>
</p>
</note>
<note class="commentary F" eId="key-3b211ba7886cab93bb291bcb1a399c40">
<p>
<ref href="http://www.legislation.gov.uk/id/uksi/2001/3755/schedule/2/paragraph/4/3">Sch. 2 para. 4(3)</ref>
revoked (20.6.2003) by
<ref href="http://www.legislation.gov.uk/id/uksi/2003/1398">The Enterprise Act 2002 (Consequential and Supplemental Provisions) Order 2003 (S.I. 2003/1398)</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/2003/1398/article/1">art. 1</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/2003/1398/schedule/paragraph/43/2/b/iv">Sch. para. 43(2)(b)(iv)</ref>
</p>
</note>
<note class="commentary F" eId="key-04e2c24ee7be78f2dd5a466724a03231">
<p>
<ref href="http://www.legislation.gov.uk/id/uksi/2001/3755/schedule/2/paragraph/5">Sch. 2 para. 5</ref>
revoked (20.6.2003) by
<ref href="http://www.legislation.gov.uk/id/uksi/2003/1398">The Enterprise Act 2002 (Consequential and Supplemental Provisions) Order 2003 (S.I. 2003/1398)</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/2003/1398/article/1">art. 1</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/2003/1398/schedule/paragraph/43/2/d">Sch. para. 43(2)(d)</ref>
</p>
</note>
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<hcontainer name="schedule" eId="schedule-2" period="#period5">
<num>
SCHEDULE 2
<authorialNote class="referenceNote" placement="right">
<p>Regulation 13</p>
</authorialNote>
</num>
<heading>PREVENTION OF RESTRICTIVE PRACTICES</heading>
<hcontainer name="crossheading" eId="schedule-2-crossheading-examination-of-rules-and-practices" period="#period2">
<heading>Examination of rules and practices</heading>
<paragraph eId="schedule-2-paragraph-1" period="#period2">
<num>
<noteRef href="#key-4c47d86420b60ee2b838ee6c611c8436" marker="I1" class="commentary I"/>
1
</num>
<subparagraph eId="schedule-2-paragraph-1-1">
<num>1</num>
<intro>
<p>The Treasury shall not approve a person as Operator of a relevant system unless they are satisfied that the rules and any guidance of which copies are furnished with the application for approval—</p>
</intro>
<paragraph eId="schedule-2-paragraph-1-1-a">
<num>a</num>
<content>
<p>do not have, and are not intended or likely to have, to any significant extent the effect of restricting, distorting or preventing competition; or</p>
</content>
</paragraph>
<paragraph eId="schedule-2-paragraph-1-1-b">
<num>b</num>
<content>
<p>
if they have or are intended to have that effect to any significant extent, that the effect is not greater than is necessary for the protection of investors, or for compliance with Directive
<ref href="http://www.legislation.gov.uk/european/directive/2000/0012">
2000/12/
<abbr class="Acronym" title="European Community">EC</abbr>
</ref>
of the European Parliament and of the Council
<noteRef href="#f00022" class="footnote" marker="22"/>
.
</p>
</content>
</paragraph>
</subparagraph>
<subparagraph eId="schedule-2-paragraph-1-2">
<num>2</num>
<intro>
<p>Subject to subparagraph (5), the powers conferred by subparagraph (3) shall be exercisable by the Treasury if at any time it appears to them that—</p>
</intro>
<paragraph eId="schedule-2-paragraph-1-2-a">
<num>a</num>
<content>
<p>any rules made or guidance issued by an Operator;</p>
</content>
</paragraph>
<paragraph eId="schedule-2-paragraph-1-2-b">
<num>b</num>
<content>
<p>any practices of an Operator in his capacity as such; or</p>
</content>
</paragraph>
<paragraph eId="schedule-2-paragraph-1-2-c">
<num>c</num>
<content>
<p>any practices of a system-user,</p>
</content>
</paragraph>
<wrapUp>
<p>
have, or are intended or likely to have, to a significant extent the effect of restricting, distorting or preventing competition and that the effect is greater than is necessary for the protection of investors or for compliance with Directive
<ref href="http://www.legislation.gov.uk/european/directive/2000/0012">
2000/12/
<abbr class="Acronym" title="European Community">EC</abbr>
</ref>
of the European Parliament and of the Council.
</p>
</wrapUp>
</subparagraph>
<subparagraph eId="schedule-2-paragraph-1-3">
<num>3</num>
<intro>
<p>The powers exercisable under this paragraph are—</p>
</intro>
<paragraph eId="schedule-2-paragraph-1-3-a">
<num>a</num>
<content>
<p>to withdraw approval from the Operator;</p>
</content>
</paragraph>
<paragraph eId="schedule-2-paragraph-1-3-b">
<num>b</num>
<content>
<p>to direct the Operator to take specified steps for the purpose of securing that the rules, guidance or practices in question do not have the effect mentioned in subparagraph (2); or</p>
</content>
</paragraph>
<paragraph eId="schedule-2-paragraph-1-3-c">
<num>c</num>
<content>
<p>to make alterations in the rules of the Operator for that purpose.</p>
</content>
</paragraph>
</subparagraph>
<subparagraph eId="schedule-2-paragraph-1-4">
<num>4</num>
<content>
<p>The practices referred to in subparagraph (2)(c) are practices in relation to business in respect of which system-users are subject to the rules of the Operator and which are required or contemplated by his rules or guidance or otherwise attributable to his conduct in his capacity as Operator.</p>
</content>
</subparagraph>
<subparagraph eId="schedule-2-paragraph-1-5">
<num>5</num>
<intro>
<p>The provisions of Schedule 3 shall apply as regards the procedure to be followed before—</p>
</intro>
<paragraph eId="schedule-2-paragraph-1-5-a">
<num>a</num>
<content>
<p>refusing to approve a person as Operator of a relevant system pursuant to subparagraph (1); or</p>
</content>
</paragraph>
<paragraph eId="schedule-2-paragraph-1-5-b">
<num>b</num>
<content>
<p>exercising any of the powers conferred by subparagraph (3).</p>
</content>
</paragraph>
</subparagraph>
</paragraph>
</hcontainer>
<hcontainer name="crossheading" eId="schedule-2-crossheading-modification-of-paragraph-1-where-delegation-order-is-made" period="#period1">
<heading>Modification of paragraph 1 where delegation order is made</heading>
<paragraph eId="schedule-2-paragraph-2" period="#period3">
<num>
<noteRef href="#key-01ebe1651ad2862e29b137be863f3055" marker="I2" class="commentary I"/>
2
</num>
<subparagraph eId="schedule-2-paragraph-2-1">
<num>1</num>
<content>
<p>This paragraph applies instead of paragraph 1 where the function of approving a person as Operator has been delegated to the designated agency by virtue of regulation 11.</p>
</content>
</subparagraph>
<subparagraph eId="schedule-2-paragraph-2-2">
<num>2</num>
<intro>
<p>The designated agency—</p>
</intro>
<paragraph eId="schedule-2-paragraph-2-2-a">
<num>a</num>
<content>
<p>shall send to the Treasury a copy of the rules and any guidance copies of which accompany the application for approval together with any other information supplied with or in connection with the application; and</p>
</content>
</paragraph>
<paragraph eId="schedule-2-paragraph-2-2-b">
<num>b</num>
<content>
<p>shall not grant the approval without the leave of the Treasury,</p>
</content>
</paragraph>
<wrapUp>
<p>and the Treasury shall not give leave in any case in which they would (apart from the delegation of functions to the designated agency) have been precluded by paragraph 1(1) from granting approval.</p>
</wrapUp>
</subparagraph>
<subparagraph eId="schedule-2-paragraph-2-3">
<num>3</num>
<content>
<p>The designated agency shall send to the Treasury a copy of any notice received by it from an Operator under regulation 10(5).</p>
</content>
</subparagraph>
<subparagraph eId="schedule-2-paragraph-2-4">
<num>4</num>
<intro>
<p>If at any time it appears to the Treasury that there are circumstances such that (apart from the delegation of functions to the designated agency) they would have been able to exercise any of the powers conferred by paragraph 1(3) they may, notwithstanding the delegation of functions to the designated agency but subject to paragraph 1(5)—</p>
</intro>
<paragraph eId="schedule-2-paragraph-2-4-a">
<num>a</num>
<content>
<p>themselves exercise the power conferred by paragraph 1(3)(a); or</p>
</content>
</paragraph>
<paragraph eId="schedule-2-paragraph-2-4-b">
<num>b</num>
<content>
<p>direct the designated agency to exercise the power conferred by paragraph 1(3)(b) or (c) in such manner as they may specify.</p>
</content>
</paragraph>
</subparagraph>
<subparagraph eId="schedule-2-paragraph-2-5">
<num>5</num>
<content>
<p>The provisions of Schedule 3 shall apply as regards the procedure to be followed before the Treasury exercise their power to refuse leave under subparagraph (2), or their power to give a direction under subparagraph (4), in respect of an Operator.</p>
</content>
</subparagraph>
</paragraph>
</hcontainer>
<hcontainer name="crossheading" eId="schedule-2-crossheading-reports-by-the-director-general-of-fair-trading" period="#period5">
<heading>
Reports by the
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Office of Fair Trading
</ins>
</heading>
<paragraph eId="schedule-2-paragraph-3" period="#period5">
<num>
<noteRef href="#key-c08b05703b83ea72949554092b39034c" marker="I3" class="commentary I"/>
3
</num>
<subparagraph eId="schedule-2-paragraph-3-1">
<num>1</num>
<intro>
<p>The Treasury shall before deciding—</p>
</intro>
<paragraph eId="schedule-2-paragraph-3-1-a">
<num>a</num>
<content>
<p>whether to refuse to approve a person as Operator of a relevant system pursuant to paragraph 1(1); or</p>
</content>
</paragraph>
<paragraph eId="schedule-2-paragraph-3-1-b">
<num>b</num>
<content>
<p>whether to refuse leave for the granting of an approval pursuant to paragraph 2(2),</p>
</content>
</paragraph>
<wrapUp>
<p>
send to the
<ins class="substitution key-ff0969b021218ebd4c9b3640b3963ff2-1721226128635 first">
<noteRef href="#key-ff0969b021218ebd4c9b3640b3963ff2" marker="F4" class="commentary attribute F"/>
Office of Fair Trading (in this Schedule referred to as “the
</ins>
<abbr title="Office of Fair Trading" xml:lang="">
<ins class="substitution key-ff0969b021218ebd4c9b3640b3963ff2-1721226128635">OFT</ins>
</abbr>
<ins class="substitution key-ff0969b021218ebd4c9b3640b3963ff2-1721226128635 last">")</ins>
a copy of the rules and of any guidance which the Treasury are required to consider in making that decision together with such other information as the Treasury consider will assist in discharging
<ins class="substitution key-ff0969b021218ebd4c9b3640b3963ff2-1721226189837 first last">
<noteRef href="#key-ff0969b021218ebd4c9b3640b3963ff2" marker="F4" class="commentary attribute F"/>
its
</ins>
functions under subparagraph (2).
</p>
</wrapUp>
</subparagraph>
<subparagraph eId="schedule-2-paragraph-3-2">
<num>2</num>
<content>
<p>
The
<ins class="substitution key-58420519b35087a88963ade69ca924d5-1721226543822 first last">
<noteRef href="#key-58420519b35087a88963ade69ca924d5" marker="F5" class="commentary attribute F"/>
OFT
</ins>
shall report to the Treasury whether, in
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its
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opinion, the rules and guidance copies of which are sent to
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it
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under subparagraph (1) have, or are intended or likely to have, to any significant extent the effect of restricting, distorting or preventing competition and, if so, what that effect is likely to be; and in making any decision as is mentioned in subparagraph (1) the Treasury shall have regard to the
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OFT's
</ins>
report.
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-2-paragraph-3-3">
<num>3</num>
<content>
<p>
The Treasury shall send to the
<ins class="substitution key-58420519b35087a88963ade69ca924d5-1721226593892 first last">
<noteRef href="#key-58420519b35087a88963ade69ca924d5" marker="F5" class="commentary attribute F"/>
OFT
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copies of any notice received by them under regulation 10(5) or paragraph 2(3) together with such other information as the Treasury consider will assist the
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OFT
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in discharging
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its
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functions under subparagraphs (4) and (5).
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-2-paragraph-3-4">
<num>4</num>
<intro>
<p>
The
<ins class="substitution key-58420519b35087a88963ade69ca924d5-1721226624158 first last">
<noteRef href="#key-58420519b35087a88963ade69ca924d5" marker="F5" class="commentary attribute F"/>
OFT
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shall keep under review—
</p>
</intro>
<paragraph eId="schedule-2-paragraph-3-4-a">
<num>a</num>
<content>
<p>the rules, guidance and practices mentioned in paragraph 1(2); and</p>
</content>
</paragraph>
<paragraph eId="schedule-2-paragraph-3-4-b">
<num>b</num>
<content>
<p>
the matters specified in the notices of which copies are sent to
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it
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under subparagraph (3),
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</content>
</paragraph>
<wrapUp>
<p>
and if at any time
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it
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is of the opinion that any such rules or guidance taken together with any such matters, have, or are intended or likely to have, to any significant extent the effect mentioned in subparagraph (2),
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it
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shall report
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its
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opinion to the Treasury stating what in
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its
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opinion that effect is or is likely to be.
</p>
</wrapUp>
</subparagraph>
<subparagraph eId="schedule-2-paragraph-3-5">
<num>5</num>
<content>
<p>
The
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OFT
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may report to the Treasury
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its
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opinion that any such matter as is mentioned in subparagraph (4)(b) does not in
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its
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opinion have, and is not intended or likely to have, to any significant extent the effect mentioned in subparagraph (2).
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-2-paragraph-3-6">
<num>6</num>
<content>
<p>
The
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OFT
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may from time to time consider whether any such practices as are mentioned in paragraph 1(2) have, or are intended or likely to have, to any significant extent the effect mentioned in subparagraph (2) and, if so, what that effect is or is likely to be; and if
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it
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is of that opinion
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shall make a report to the Treasury stating
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its
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opinion and what the effect is or is likely to be.
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-2-paragraph-3-7">
<num>7</num>
<content>
<p>
The Treasury shall not exercise their powers under paragraph 1(3) or 2(4) except after receiving a report from the
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OFT
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under subparagraph (4) or (6).
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-2-paragraph-3-8">
<num>8</num>
<content>
<p>
The
<ins class="substitution key-58420519b35087a88963ade69ca924d5-1721226682828 first last">
<noteRef href="#key-58420519b35087a88963ade69ca924d5" marker="F5" class="commentary attribute F"/>
OFT
</ins>
may, if
<ins class="substitution key-3a33fd7c1c3bd10463a87b9a976eb02f-1721227145363 first last">
<noteRef href="#key-3a33fd7c1c3bd10463a87b9a976eb02f" marker="F8" class="commentary attribute F"/>
it
</ins>
thinks fit, publish any report made by him under this paragraph but shall exclude from a published report, so far as practicable, any matter which relates to the affairs of a particular person (other than the person seeking approval as an Operator) the publication of which would or might in
<ins class="substitution key-d4a150542d203ebca6d465e26d2033a8-1721226867562 first last">
<noteRef href="#key-d4a150542d203ebca6d465e26d2033a8" marker="F6" class="commentary attribute F"/>
its
</ins>
opinion seriously and prejudicially affect the interests of that person.
</p>
</content>
</subparagraph>
</paragraph>
</hcontainer>
<hcontainer name="crossheading" eId="schedule-2-crossheading-investigations-by-the-director-general-of-fair-trading" period="#period4">
<heading>
Investigations by the
<ins class="substitution key-71c93975905fb3175ed0f8c0e6d7ab07-1721225419182 first last">
<noteRef href="#key-71c93975905fb3175ed0f8c0e6d7ab07" marker="F2" class="commentary attribute F"/>
Office of Fair Trading
</ins>
</heading>
<paragraph eId="schedule-2-paragraph-4" period="#period6">
<num>
<noteRef href="#key-389ddd24ad1013061ec94f6cf33e092f" marker="I4" class="commentary I"/>
4
</num>
<subparagraph eId="schedule-2-paragraph-4-1">
<num>1</num>
<intro>
<p>
For the purpose of investigating any matter with a view to
<ins class="substitution key-2424904ef43338612cd5f15bf726c33e-1721227489445 first last">
<noteRef href="#key-2424904ef43338612cd5f15bf726c33e" marker="F10" class="commentary attribute F"/>
its
</ins>
consideration under paragraph 3 the
<ins class="substitution key-9af04f35c5efe27f030b65925f11f766-1721227366318 first last">
<noteRef href="#key-9af04f35c5efe27f030b65925f11f766" marker="F9" class="commentary attribute F"/>
OFT
</ins>
may by a notice in writing—
</p>
</intro>
<paragraph eId="schedule-2-paragraph-4-1-a">
<num>a</num>
<content>
<p>
require any person to produce, at any time and place specified in the notice, to the
<ins class="substitution key-9af04f35c5efe27f030b65925f11f766-1721227453953 first last">
<noteRef href="#key-9af04f35c5efe27f030b65925f11f766" marker="F9" class="commentary attribute F"/>
OFT
</ins>
or to any person appointed by
<ins class="substitution key-ee1d0ee450615724b98d1312749c4823-1721227510242 first last">
<noteRef href="#key-ee1d0ee450615724b98d1312749c4823" marker="F11" class="commentary attribute F"/>
it
</ins>
for the purpose, any documents which are specified or described in the notice and which are documents in
<ins class="substitution key-2424904ef43338612cd5f15bf726c33e-1721227532611 first last">
<noteRef href="#key-2424904ef43338612cd5f15bf726c33e" marker="F10" class="commentary attribute F"/>
its
</ins>
custody or under
<ins class="substitution key-2424904ef43338612cd5f15bf726c33e-1721227557676 first last">
<noteRef href="#key-2424904ef43338612cd5f15bf726c33e" marker="F10" class="commentary attribute F"/>
its
</ins>
control and relating to any matter relevant to the investigation; or
</p>
</content>
</paragraph>
<paragraph eId="schedule-2-paragraph-4-1-b">
<num>b</num>
<content>
<p>
require any person carrying on business to furnish to the
<ins class="substitution key-9af04f35c5efe27f030b65925f11f766-1721227467089 first last">
<noteRef href="#key-9af04f35c5efe27f030b65925f11f766" marker="F9" class="commentary attribute F"/>
OFT
</ins>
such information as may be specified or described in the notice, and specify the time within which, and the manner and form in which, any such information is to be furnished.
</p>
</content>
</paragraph>
</subparagraph>
<subparagraph eId="schedule-2-paragraph-4-2">
<num>2</num>
<content>
<p>A person shall not under this paragraph be required to produce any document or disclose any information which he would be entitled to refuse to produce or disclose on grounds of legal professional privilege in proceedings in the High Court or on grounds of confidentiality as between client and professional legal adviser in proceedings in the Court of Session.</p>
</content>
</subparagraph>
<subparagraph eId="schedule-2-paragraph-4-3">
<num>
<noteRef href="#key-3b211ba7886cab93bb291bcb1a399c40" marker="F12" class="commentary F"/>
3
</num>
<content>
<p>. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .</p>
</content>
</subparagraph>
</paragraph>
</hcontainer>
<hcontainer name="crossheading" eId="schedule-2-crossheading-enforcement" period="#period4">
<heading>
<ins class="key-a3fff3eb96c7233eb1425f8e12acdfc0-1721225028961 first">
<noteRef href="#key-a3fff3eb96c7233eb1425f8e12acdfc0" marker="F3" class="commentary attribute F"/>
Enforcement
</ins>
</heading>
<paragraph eId="schedule-2-paragraph-4A" period="#period4">
<num>
<ins class="key-a3fff3eb96c7233eb1425f8e12acdfc0-1721225028961">4A</ins>
</num>
<subparagraph eId="schedule-2-paragraph-4A-1">
<num>
<ins class="key-a3fff3eb96c7233eb1425f8e12acdfc0-1721225028961">1</ins>
</num>
<content>
<p>
<ins class="key-a3fff3eb96c7233eb1425f8e12acdfc0-1721225028961">The court may, on an application by the </ins>
<abbr title="Office of Fair Trading" xml:lang="">
<ins class="key-a3fff3eb96c7233eb1425f8e12acdfc0-1721225028961">OFT</ins>
</abbr>
<ins class="key-a3fff3eb96c7233eb1425f8e12acdfc0-1721225028961">, enquire into whether any person (“the defaulter”) has refused or otherwise failed, without reasonable excuse, to comply with a notice under paragraph 4(1).</ins>
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-2-paragraph-4A-2">
<num>
<ins class="key-a3fff3eb96c7233eb1425f8e12acdfc0-1721225028961">2</ins>
</num>
<content>
<p>
<ins class="key-a3fff3eb96c7233eb1425f8e12acdfc0-1721225028961">An application under sub-paragraph (1) shall include details of the possible failure which the </ins>
<abbr title="Office of Fair Trading" xml:lang="">
<ins class="key-a3fff3eb96c7233eb1425f8e12acdfc0-1721225028961">OFT</ins>
</abbr>
<ins class="key-a3fff3eb96c7233eb1425f8e12acdfc0-1721225028961"> considers has occurred.</ins>
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-2-paragraph-4A-3">
<num>
<ins class="key-a3fff3eb96c7233eb1425f8e12acdfc0-1721225028961">3</ins>
</num>
<content>
<p>
<ins class="key-a3fff3eb96c7233eb1425f8e12acdfc0-1721225028961">In enquiring into a case under sub-paragraph (1), the court shall hear any witness who may be produced against or on behalf of the defaulter and any statement which may be offered in defence.</ins>
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-2-paragraph-4A-4">
<num>
<ins class="key-a3fff3eb96c7233eb1425f8e12acdfc0-1721225028961">4</ins>
</num>
<content>
<p>
<ins class="key-a3fff3eb96c7233eb1425f8e12acdfc0-1721225028961">Sub-paragraphs (5) and (6) apply where the court is satisfied, after hearing any witnesses and statements as mentioned in sub-paragraph (3), that the defaulter has refused or otherwise failed, without reasonable excuse, to comply with a notice under paragraph 4(1).</ins>
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-2-paragraph-4A-5">
<num>
<ins class="key-a3fff3eb96c7233eb1425f8e12acdfc0-1721225028961">5</ins>
</num>
<content>
<p>
<ins class="key-a3fff3eb96c7233eb1425f8e12acdfc0-1721225028961">The court may punish the defaulter as it would have been able to punish him had he been guilty of contempt of court.</ins>
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-2-paragraph-4A-6">
<num>
<ins class="key-a3fff3eb96c7233eb1425f8e12acdfc0-1721225028961">6</ins>
</num>
<content>
<p>
<ins class="key-a3fff3eb96c7233eb1425f8e12acdfc0-1721225028961">Where the defaulter is a body corporate or is a partnership constituted under the law of Scotland, the court may punish any director, officer or (as the case may be) partner of the defaulter as it would have been able to punish that director, officer or partner had he been guilty of contempt of court.</ins>
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-2-paragraph-4A-7">
<num>
<ins class="key-a3fff3eb96c7233eb1425f8e12acdfc0-1721225028961">7</ins>
</num>
<intro>
<p>
<ins class="key-a3fff3eb96c7233eb1425f8e12acdfc0-1721225028961">In this paragraph “the court”—</ins>
</p>
</intro>
<paragraph eId="schedule-2-paragraph-4A-7-a">
<num>
<ins class="key-a3fff3eb96c7233eb1425f8e12acdfc0-1721225028961">a</ins>
</num>
<content>
<p>
<ins class="key-a3fff3eb96c7233eb1425f8e12acdfc0-1721225028961">in relation to England and Wales or Northern Ireland, means the High Court, and</ins>
</p>
</content>
</paragraph>
<paragraph eId="schedule-2-paragraph-4A-7-b">
<num>
<ins class="key-a3fff3eb96c7233eb1425f8e12acdfc0-1721225028961">b</ins>
</num>
<content>
<p>
<ins class="key-a3fff3eb96c7233eb1425f8e12acdfc0-1721225028961 last">in relation to Scotland, means the Court of Session.</ins>
</p>
</content>
</paragraph>
</subparagraph>
</paragraph>
<paragraph eId="schedule-2-paragraph-4B" period="#period4">
<num>
<ins class="key-a3fff3eb96c7233eb1425f8e12acdfc0-1721225236379 first">
<noteRef href="#key-a3fff3eb96c7233eb1425f8e12acdfc0" marker="F3" class="commentary attribute F"/>
4B
</ins>
</num>
<subparagraph eId="schedule-2-paragraph-4B-1">
<num>
<ins class="key-a3fff3eb96c7233eb1425f8e12acdfc0-1721225236379">1</ins>
</num>
<content>
<p>
<ins class="key-a3fff3eb96c7233eb1425f8e12acdfc0-1721225236379">A person commits an offence if he intentionally alters, suppresses or destroys a document which he has been required to produce by a notice under paragraph 4(1).</ins>
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-2-paragraph-4B-2">
<num>
<ins class="key-a3fff3eb96c7233eb1425f8e12acdfc0-1721225236379">2</ins>
</num>
<intro>
<p>
<ins class="key-a3fff3eb96c7233eb1425f8e12acdfc0-1721225236379">A person who commits an offence under sub-paragraph (1) shall be liable—</ins>
</p>
</intro>
<paragraph eId="schedule-2-paragraph-4B-2-a">
<num>
<ins class="key-a3fff3eb96c7233eb1425f8e12acdfc0-1721225236379">a</ins>
</num>
<content>
<p>
<ins class="key-a3fff3eb96c7233eb1425f8e12acdfc0-1721225236379">on summary conviction, to a fine not exceeding the statutory maximum;</ins>
</p>
</content>
</paragraph>
<paragraph eId="schedule-2-paragraph-4B-2-b">
<num>
<ins class="key-a3fff3eb96c7233eb1425f8e12acdfc0-1721225236379">b</ins>
</num>
<content>
<p>
<ins class="key-a3fff3eb96c7233eb1425f8e12acdfc0-1721225236379 last">on conviction on indictment, to imprisonment for a term not exceeding two years or to a fine or to both.</ins>
</p>
</content>
</paragraph>
</subparagraph>
</paragraph>
<hcontainer name="P1group" eId="d4e634" period="#period4">
<heading>
<strong>
<em>
<ins class="key-71c93975905fb3175ed0f8c0e6d7ab07-1723405964972 first">
<noteRef href="#key-71c93975905fb3175ed0f8c0e6d7ab07" marker="F2" class="commentary attribute F"/>
Enforcement
</ins>
</em>
</strong>
</heading>
<paragraph eId="schedule-2-paragraph-4An1">
<num>
<ins class="key-71c93975905fb3175ed0f8c0e6d7ab07-1723405964972">4A</ins>
</num>
<subparagraph eId="schedule-2-paragraph-4A-1n1">
<num>
<ins class="key-71c93975905fb3175ed0f8c0e6d7ab07-1723405964972">1</ins>
</num>
<content>
<p>
<ins class="key-71c93975905fb3175ed0f8c0e6d7ab07-1723405964972">The court may, on an application by the </ins>
<abbr title="Office of Fair Trading" xml:lang="">
<ins class="key-71c93975905fb3175ed0f8c0e6d7ab07-1723405964972">OFT</ins>
</abbr>
<ins class="key-71c93975905fb3175ed0f8c0e6d7ab07-1723405964972">, enquire into whether any person (“the defaulter”) has refused or otherwise failed, without reasonable excuse, to comply with a notice under paragraph 4(1).</ins>
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-2-paragraph-4A-2n1">
<num>
<ins class="key-71c93975905fb3175ed0f8c0e6d7ab07-1723405964972">2</ins>
</num>
<content>
<p>
<ins class="key-71c93975905fb3175ed0f8c0e6d7ab07-1723405964972">An application under sub-paragraph (1) shall include details of the possible failure which the </ins>
<abbr title="Office of Fair Trading" xml:lang="">
<ins class="key-71c93975905fb3175ed0f8c0e6d7ab07-1723405964972">OFT</ins>
</abbr>
<ins class="key-71c93975905fb3175ed0f8c0e6d7ab07-1723405964972"> considers has occurred.</ins>
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-2-paragraph-4A-3n1">
<num>
<ins class="key-71c93975905fb3175ed0f8c0e6d7ab07-1723405964972">3</ins>
</num>
<content>
<p>
<ins class="key-71c93975905fb3175ed0f8c0e6d7ab07-1723405964972">In enquiring into a case under sub-paragraph (1), the court shall hear any witness who may be produced against or on behalf of the defaulter and any statement which may be offered in defence.</ins>
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-2-paragraph-4A-4n1">
<num>
<ins class="key-71c93975905fb3175ed0f8c0e6d7ab07-1723405964972">4</ins>
</num>
<content>
<p>
<ins class="key-71c93975905fb3175ed0f8c0e6d7ab07-1723405964972">Sub-paragraphs (5) and (6) apply where the court is satisfied, after hearing any witnesses and statements as mentioned in sub-paragraph (3), that the defaulter has refused or otherwise failed, without reasonable excuse, to comply with a notice under paragraph 4(1).</ins>
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-2-paragraph-4A-5n1">
<num>
<ins class="key-71c93975905fb3175ed0f8c0e6d7ab07-1723405964972">5</ins>
</num>
<content>
<p>
<ins class="key-71c93975905fb3175ed0f8c0e6d7ab07-1723405964972">The court may punish the defaulter as it would have been able to punish him had he been guilty of contempt of court.</ins>
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-2-paragraph-4A-6n1">
<num>
<ins class="key-71c93975905fb3175ed0f8c0e6d7ab07-1723405964972">6</ins>
</num>
<content>
<p>
<ins class="key-71c93975905fb3175ed0f8c0e6d7ab07-1723405964972">Where the defaulter is a body corporate or is a partnership constituted under the law of Scotland, the court may punish any director, officer or (as the case may be) partner of the defaulter as it would have been able to punish that director, officer or partner had he been guilty of contempt of court.</ins>
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-2-paragraph-4A-7n1">
<num>
<ins class="key-71c93975905fb3175ed0f8c0e6d7ab07-1723405964972">7</ins>
</num>
<intro>
<p>
<ins class="key-71c93975905fb3175ed0f8c0e6d7ab07-1723405964972">In this paragraph “the court”—</ins>
</p>
</intro>
<paragraph eId="schedule-2-paragraph-4A-7-an1">
<num>
<ins class="key-71c93975905fb3175ed0f8c0e6d7ab07-1723405964972">a</ins>
</num>
<content>
<p>
<ins class="key-71c93975905fb3175ed0f8c0e6d7ab07-1723405964972">in relation to England and Wales or Northern Ireland, means the High Court, and</ins>
</p>
</content>
</paragraph>
<paragraph eId="schedule-2-paragraph-4A-7-bn1">
<num>
<ins class="key-71c93975905fb3175ed0f8c0e6d7ab07-1723405964972">b</ins>
</num>
<content>
<p>
<ins class="key-71c93975905fb3175ed0f8c0e6d7ab07-1723405964972">in relation to Scotland, means the Court of Session.</ins>
</p>
</content>
</paragraph>
</subparagraph>
</paragraph>
<paragraph eId="schedule-2-paragraph-4Bn1">
<num>
<ins class="key-71c93975905fb3175ed0f8c0e6d7ab07-1723405964972">4B</ins>
</num>
<subparagraph eId="schedule-2-paragraph-4B-1n1">
<num>
<ins class="key-71c93975905fb3175ed0f8c0e6d7ab07-1723405964972">1</ins>
</num>
<content>
<p>
<ins class="key-71c93975905fb3175ed0f8c0e6d7ab07-1723405964972">A person commits an offence if he intentionally alters, suppresses or destroys a document which he has been required to produce by a notice under paragraph 4(1).</ins>
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-2-paragraph-4B-2n1">
<num>
<ins class="key-71c93975905fb3175ed0f8c0e6d7ab07-1723405964972">2</ins>
</num>
<intro>
<p>
<ins class="key-71c93975905fb3175ed0f8c0e6d7ab07-1723405964972">A person who commits an offence under sub-paragraph (1) shall be liable—</ins>
</p>
</intro>
<paragraph eId="schedule-2-paragraph-4B-2-an1">
<num>
<ins class="key-71c93975905fb3175ed0f8c0e6d7ab07-1723405964972">a</ins>
</num>
<content>
<p>
<ins class="key-71c93975905fb3175ed0f8c0e6d7ab07-1723405964972">on summary conviction, to a fine not exceeding the statutory maximum;</ins>
</p>
</content>
</paragraph>
<paragraph eId="schedule-2-paragraph-4B-2-bn1">
<num>
<ins class="key-71c93975905fb3175ed0f8c0e6d7ab07-1723405964972">b</ins>
</num>
<content>
<p>
<ins class="key-71c93975905fb3175ed0f8c0e6d7ab07-1723405964972 last">on conviction on indictment, to imprisonment for a term not exceeding two years or to a fine or to both.</ins>
</p>
</content>
</paragraph>
</subparagraph>
</paragraph>
</hcontainer>
</hcontainer>
<hcontainer name="crossheading" eId="schedule-2-crossheading-exemptions-from-the-fair-trading-act-1973" period="#period4">
<heading>Exemptions from the Fair Trading Act 1973</heading>
<paragraph eId="schedule-2-paragraph-5" period="#period6">
<num>
<noteRef href="#key-04e2c24ee7be78f2dd5a466724a03231" marker="F13" class="commentary F"/>
5
</num>
<content>
<p>. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .</p>
</content>
</paragraph>
</hcontainer>
<hcontainer name="crossheading" eId="schedule-2-crossheading-exemptions-from-the-competition-act-1998" period="#period1">
<heading>Exemptions from the Competition Act 1998</heading>
<paragraph eId="schedule-2-paragraph-6" period="#period3">
<num>
<noteRef href="#key-b0698d6b75622cb98fbeae9325db50eb" marker="I5" class="commentary I"/>
6
</num>
<subparagraph eId="schedule-2-paragraph-6-1">
<num>1</num>
<intro>
<p>The Chapter I prohibition does not apply to —</p>
</intro>
<paragraph eId="schedule-2-paragraph-6-1-a">
<num>a</num>
<content>
<p>an agreement for the constitution of an Operator; or</p>
</content>
</paragraph>
<paragraph eId="schedule-2-paragraph-6-1-b">
<num>b</num>
<content>
<p>an agreement for the constitution of a person who has applied for approval as an Operator in accordance with these Regulations and whose application has not yet been determined,</p>
</content>
</paragraph>
<wrapUp>
<p>to the extent to which the agreement relates to rules made or guidance issued by the Operator.</p>
</wrapUp>
</subparagraph>
<subparagraph eId="schedule-2-paragraph-6-2">
<num>2</num>
<content>
<p>The Chapter I prohibition does not apply to a decision made by an Operator to the extent to which the decision relates to any of the rules made or guidance issued by that Operator or to the Operator’s specified practices.</p>
</content>
</subparagraph>
<subparagraph eId="schedule-2-paragraph-6-3">
<num>3</num>
<intro>
<p>The Chapter I prohibition does not apply to the specified practices of—</p>
</intro>
<paragraph eId="schedule-2-paragraph-6-3-a">
<num>a</num>
<content>
<p>an Operator; or</p>
</content>
</paragraph>
<paragraph eId="schedule-2-paragraph-6-3-b">
<num>b</num>
<content>
<p>a person who is subject to the rules of an Operator.</p>
</content>
</paragraph>
</subparagraph>
<subparagraph eId="schedule-2-paragraph-6-4">
<num>4</num>
<intro>
<p>The Chapter I prohibition does not apply to any agreement the parties to which consist of or include—</p>
</intro>
<paragraph eId="schedule-2-paragraph-6-4-a">
<num>a</num>
<content>
<p>an Operator; or</p>
</content>
</paragraph>
<paragraph eId="schedule-2-paragraph-6-4-b">
<num>b</num>
<content>
<p>a person who is subject to the rules of an Operator,</p>
</content>
</paragraph>
<wrapUp>
<p>to the extent to which the agreement consists of provisions the inclusion of which is required or contemplated by these Regulations or by any rules made or guidance issued by the Operator or by the Operator’s specified practices.</p>
</wrapUp>
</subparagraph>
<subparagraph eId="schedule-2-paragraph-6-5">
<num>5</num>
<content>
<p>In this paragraph—</p>
<blockList class="unordered">
<item>
<p>
“the Chapter I prohibition” means the prohibition imposed by section 2(1) of the Competition Act 1998
<noteRef href="#f00024" class="footnote" marker="24"/>
; and
</p>
</item>
<item>
<p>“specified practices” means—</p>
<blockList class="ordered">
<item>
<num>a</num>
<p>any practices of an Operator in its capacity as such; or</p>
</item>
<item>
<num>b</num>
<p>any practices of persons who are members of, or otherwise subject to rules made by, an Operator and which are practices—</p>
<blockList class="ordered">
<item>
<num>i</num>
<p>in relation to business in respect of which the persons in question are subject to the rules of the Operator where those practices are required or contemplated by the rules of the Operator or by guidance issued by the Operator; or</p>
</item>
<item>
<num>ii</num>
<p>otherwise attributable to the conduct of the Operator as such;</p>
</item>
</blockList>
</item>
</blockList>
<p>and expressions used in this paragraph which are also used in Part I of the Competition Act 1998 are to be interpreted in the same way as for the purposes of that Part of that Act.</p>
</item>
</blockList>
</content>
</subparagraph>
</paragraph>
</hcontainer>
<hcontainer name="crossheading" eId="schedule-2-crossheading-supplementary-provisions" period="#period1">
<heading>Supplementary provisions</heading>
<paragraph eId="schedule-2-paragraph-7" period="#period1">
<num>
<noteRef href="#key-2d05ec9a44b5f86d8f64a96711ab612e" marker="I6" class="commentary I"/>
7
</num>
<subparagraph eId="schedule-2-paragraph-7-1">
<num>1</num>
<content>
<p>Any direction given under this Schedule shall, on the application of the person by whom it was given, be enforceable by injunction or, in Scotland, by an order for specific performance under section 45 of the Court of Session Act 1988.</p>
</content>
</subparagraph>
<subparagraph eId="schedule-2-paragraph-7-2">
<num>2</num>
<content>
<p>The fact that any rules made by an Operator have been altered by or pursuant to a direction given by the Treasury under this Schedule shall not preclude their subsequent alteration or revocation by the Operator.</p>
</content>
</subparagraph>
<subparagraph eId="schedule-2-paragraph-7-3">
<num>3</num>
<content>
<p>In determining under this Schedule whether any guidance has, or is likely to have, any particular effect the Treasury and the Director may assume that the persons to whom it is addressed will act in conformity with it.</p>
</content>
</subparagraph>
</paragraph>
</hcontainer>
</hcontainer>
</hcontainer>
</portionBody>
</portion>
</akomaNtoso>