Part XVIII

Recognised Investment Exchanges and Clearing Houses
Chapter II

Competition Scrutiny

Role of the Treasury

Procedure on exercise of certain powers by the Treasury
310
1
Subsection (2) applies if the Treasury are considering—
a
whether to refuse their approval under section 307;
b
whether section 308(2) applies; or
c
whether to give a direction under section 308(6).
2
The Treasury must—
a
take such steps as they consider appropriate to allow the exchange or clearing house concerned, and any other person appearing to the Treasury to be affected, an opportunity to make representations—
i
about any report made by the Director under section 303 or 304 or by the Competition Commission under section 306;
ii
as to whether, and if so how, the Treasury should exercise their powers under section 307 or 308; and
b
have regard to any such representations.