194.This section abolishes the CC and the OFT. The section also gives effect to Schedules 5 and 6.
195.Schedule 5 amends the CA 1998 and the EA 2002 to make provision for the transfer of the current relevant functions of the OFT and the CC to the CMA where these are not otherwise transferred under the Act. Schedule 6 amends other enactments to make provision for the transfer of functions, predominantly regulatory appeals and ancillary functions, from the CC and OFT to the CMA.