The Enterprise and Regulatory Reform Act 2013 (Competition) (Consequential, Transitional and Saving Provisions) Order 2014 No. 892

SCHEDULE 1 TRANSFER OF FUNCTIONS OF OFT AND COMPETITION COMMISSION TO CMA AND AMENDMENTS CONSEQUENTIAL ON PARTS 3 AND 4 OF THE ACT

PART 2 Amendments to other Acts of Parliament

Financial Services and Markets Act 2000

128.—(1) Section 234H (power of FCA to make request to Office of Fair Trading)(1) is amended as follows.

(2) In subsection (1), for “Office of Fair Trading (“the OFT”)” substitute “Competition and Markets Authority (“the CMA”)”.

(3) After subsection (1) insert—

“(1A) In a case where the feature or each of the features concerned is—

(a) any conduct (whether or not in the market concerned) of one or more than one person who supplies or acquires goods or services in the market concerned, or

(b) any conduct relating to the market concerned of customers of any person who supplies or acquires goods or services,

a request under subsection (1) may be made in relation to more than one market in the United Kingdom for financial services.”

(4) In subsections (2) and (3), for “OFT” (in each place where it occurs) substitute “CMA”.

(5) In the heading, for “Office of Fair Trading” substitute “Competition and Markets Authority”.

(1)

Inserted by section 43 of the Financial Services Act 2012.