Part 1 Amendments of Financial Services and Markets Act 2000
Financial Services (Banking Reform) Act 2013 (2013 c 33) | Legislation

SCHEDULE 8 Functions of FCA Under Competition Legislation

Section 129

Part 1 Amendments of Financial Services and Markets Act 2000

1

Part 16A of FSMA 2000 (consumer protection and competition) is amended as follows.

2

Omit section 234H (power of FCA to make request to Office of Fair Trading).

3

After section 234H insert—

“234I The FCA's functions under Part 4 of the Enterprise Act 2002

(1)     The functions to which this subsection applies (“the concurrent functionsâ€) are to be concurrent functions of the FCA and the Competition and Markets Authority (referred to in this Part as “the CMAâ€).

(2)     Subsection (1) applies to the functions of the CMA under Part 4 of the Enterprise Act 2002 (market investigations), so far as those functions—

(a)     are exercisable by the CMA Board (within the meaning of Schedule 4 to the Enterprise and Regulatory Reform Act 2013), and

(b)     relate to the provision of financial services.

(3)     But subsection (1) does not apply to functions under the following sections of the Enterprise Act 2002—

section 166 (duty to maintain register of undertakings and orders);

section 171 (duty to publish guidance).

(4)     So far as is necessary

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