The Economic Growth (Regulatory Functions) (Amendment) Order 2024

Explanatory Note

(This note is not part of the Order)

Section 108 of the Deregulation Act 2015 (the “Act”) imposes a duty on any person exercising a regulatory function which is specified in an Order made by a Minister of the Crown under section 109 of the Act, to have regard to the desirability of promoting economic growth.

The term “regulatory function” is defined in section 111 of the Act.

This Order amends the Economic Growth (Regulatory Functions) Order 2017 (the “2017 Order”) which specifies the regulatory functions to which the duty in section 108 applies. This Order does that by amending Part 1 of the Schedule to the 2017 Order which specifies regulatory functions which are exercised by named regulators so as to include three additional named regulators: the Gas and Electricity Markets Authority, the Office of Communications and the Water Services Regulation Authority.

This Order excludes regulatory functions of those three additional named regulators relating to competition where those functions are concurrent with the competition functions of the Competition and Markets Authority.

In relation to the Office of Communications, this Order also excludes regulatory functions under Part 3 of the Enterprise Act 2002 (relating to relevant types of merger) and those which are online safety functions (as defined in the Online Safety Act 2023) for a time limited period until the end of 5th April 2026.

A full Impact Assessment of the effect that this instrument will have on costs to the private sector is available from the Department for Business and Trade at Old Admiralty Building, London SW1A 2PA and is published with an Explanatory Memorandum alongside the instrument on www.legislation.gov.uk. No, or no significant, impact on the voluntary or public sector is foreseen.