SCHEDULES
F5SCHEDULE 14 Supervisory and qualifying bodies: Restrictive practices
Part I Prevention of restrictive practices
Continuing scrutiny by the Director General of Fair Trading
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The F1OFT shall keep under review the rules made or guidance issued by a recognised supervisory or qualifying body, and if F2it is of the opinion that any rules or guidance of such a body have, or are intended or likely to have, to any significant extent the effect of restricting, distorting or preventing competition, F2it shall report F2its opinion to the Secretary of State, stating what in F2its opinion the effect is or is likely to be.
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The F1OFT may from time to time consider whether—
a
any practices of a recognised supervisory or qualifying body in its capacity as such, or
b
any relevant practices required or contemplated by the rules or guidance of such a body or otherwise attributable to its conduct in its capacity as such,
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 or is likely to be; and if F4it is of that opinion F4it shall make a report to the Secretary of State stating F4its opinion and what the effect is or is likely to be.
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The practices relevant for the purposes of sub-paragraph (4)(b) in the case of a recognised supervisory body are practices engaged in for the purposes of, or in connection with, appointment as a company auditor or the conduct of company audit work by persons who—
a
are eligible under its rules for appointment as a company auditor, or
b
hold an appropriate qualification and are directors or other officers of bodies corporate which are so eligible or partners in, or employees of, partnerships which are so eligible.
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The practices relevant for the purposes of sub-paragraph (4)(b) in the case of a recognised qualifying body are—
a
practices engaged in by persons in the course of seeking to obtain a recognised professional qualification from that body, and
b
practices engaged in by persons approved by the body for the purposes of giving practical training to persons seeking such a qualification and which relate to such training.
Sch. 14 ceased to have effect (1.5.2004) by virtue of The Competition Act 1998 and Other Enactments (Amendment) Regulations 2004 (S.I. 2004/1261), reg. 5, Sch. 2 para. 2(2) (with reg. 6(2))