(1)The Secretary of State may, by a direction to any of the pre-commencement regulators, require that regulator to make one or more schemes for the transfer from that regulator to OFCOM of such of the regulator’s property, rights and liabilities as may be specified or described in the direction.
(2)Where a pre-commencement regulator is required to make a scheme, the scheme must be made by such date as may be specified in the direction.
(3)Before making a scheme in pursuance of a direction under subsection (1), a pre-commencement regulator must consult OFCOM.
(4)A pre-commencement regulator who makes a scheme in pursuance of a direction under subsection (1) shall submit that scheme to the Secretary of State for approval.
(5)A scheme that is required to be so submitted shall have effect only if, and to the extent that, it is approved by the Secretary of State.
(6)The Secretary of State, in approving a scheme, may do so subject to such modifications as he thinks fit.
(7)Where the Secretary of State approves a scheme subject to modifications specified by him, it shall have effect with those modifications.
(8)A scheme approved by the Secretary of State under this section shall come into force either—
(a)if no time is appointed under paragraph (b), at the time when the approval is given; or
(b)if the Secretary of State appoints a later time for the coming into force of the scheme (whether when approving the scheme or by subsequently varying a time appointed under this paragraph), at that later time.
(9)Where a scheme is submitted to the Secretary of State under this section, he must—
(a)consult OFCOM about any proposal of his to approve the scheme; and
(b)consult both OFCOM and the pre-commencement regulator in question about any modifications subject to which he proposes to give his approval, or about any proposal of his to refuse approval.
(10)The Secretary of State may, after consulting OFCOM, himself make a scheme for the transfer of property, rights and liabilities—
(a)from a pre-commencement regulator to OFCOM; or
(b)from himself to OFCOM;
and such a scheme shall come into force on such day as the Secretary of State may appoint (whether in the scheme or subsequently).
(11)The Secretary of State is not to make a scheme for the transfer of property, rights and liabilities from a pre-commencement regulator to OFCOM unless—
(a)that regulator has failed to comply with a direction under subsection (1); or
(b)that regulator has complied with such a direction by submitting a scheme to the Secretary of State that he has decided not to approve (with or without modifications).
(12)Schedule 2 (which makes further provision about schemes under this section) shall have effect.
Commencement Information
I1S. 30 in force at 18.9.2003 by S.I. 2003/1900, art. 2(2), Sch. 2