(1)Section 72 applies to the following regulatory functions—
(a)the regulatory functions specified in subsection (2),
(b)any regulatory function specified by a Minister of the Crown by order in accordance with this section, and
(c)any regulatory function specified by the Welsh Ministers by order in accordance with this section.
(2)The regulatory functions referred to in subsection (1)(a) are the regulatory functions exercised by—
(a)the Gas and Electricity Markets Authority,
(b)the Office of Fair Trading,
(c)the Office of Rail Regulation,
(d)the Postal Services Commission, and
(e)the Water Services Regulation Authority,
other than any function exercised under competition law.
(3)Any reference in subsection (2) to a regulatory function—
(a)where the function is exercisable in Scotland, does not include the function if or to the extent that it relates to matters which are not reserved matters,
(b)where the function is exercisable in Northern Ireland, does not include the function if or to the extent that it relates to matters which are transferred matters, and
(c)where the function is exercisable in Wales, does not include the function if or to the extent that it relates to a Welsh ministerial matter.
(4)A Minister of the Crown may not under this section specify—
(a)a regulatory function so far as exercisable in Scotland, if or to the extent that the function relates to matters which are not reserved matters,
(b)a regulatory function so far as exercisable in Northern Ireland, if or to the extent that the function relates to matters which are transferred matters, or
(c)a regulatory function so far as exercisable in Wales, if or to the extent that the function relates to a Welsh ministerial matter.
(5)The Welsh Ministers may only specify under this section a regulatory function if or to the extent that it relates to a Welsh ministerial matter.
(6)Before making an order under this section the authority making the order must consult—
(a)any person whose regulatory functions are to be specified in the order, and
(b)such other persons as the authority considers appropriate.
(7)An order under this section may make such consequential, supplementary, incidental or transitional provision (including provision amending any enactment) as the authority making it considers appropriate.
(8)An order under this section is to be made by statutory instrument.
(9)A statutory instrument containing an order under this section made by a Minister of the Crown may not be made unless a draft of the instrument has been laid before, and approved by resolution of, each House of Parliament.
(10)A statutory instrument containing an order under this section made by the Welsh Ministers may not be made unless a draft of the instrument has been laid before, and approved by resolution of, the National Assembly for Wales.
(11)In subsections (3) and (4)—
“reserved matter” and “Scotland” have the same meanings as in the Scotland Act 1998 (c. 46);
“transferred matter” and “Northern Ireland” have the same meanings as in the Northern Ireland Act 1998 (c. 47);
“Wales” has the same meaning as in the Government of Wales Act 2006 (c. 32).