Part 4Regulation of approved regulators

Competition

61Lord Chancellor's power to give directions

1

The Lord Chancellor may direct the Board to take such action as the Lord Chancellor considers appropriate in connection with any matter raised in a report made by the F1 CMA under section 57.

2

Before giving a direction under subsection (1), the Lord Chancellor must consider any report from the F2CMA under section 60 on that matter.

3

When exercising the power to give a direction under subsection (1), the Lord Chancellor must ensure—

a

that the action stated is action which the Board has power to take, and

b

so far as reasonably possible, that the action stated in any direction is compatible with the functions conferred, and obligations imposed, on the Board by or under this Act.

4

The Lord Chancellor must publish a direction given under this section.