Part VI

Official Listing

Competition

Competition scrutiny
95
1
The Treasury may by order provide for—
a
regulating provisions, and
b
the practices of the competent authority in exercising its functions under this Part (“practices”),
to be kept under review.
2
Provision made as a result of subsection (1) must require the person responsible for keeping regulating provisions and practices under review to consider—
a
whether any regulating provision or practice has a significantly adverse effect on competition; or
b
whether two or more regulating provisions or practices taken together have, or a particular combination of regulating provisions and practices has, such an effect.
3
An order under this section may include provision corresponding to that made by any provision of Chapter III of Part X.
4
Subsection (3) is not to be read as in any way restricting the power conferred by subsection (1).
5
Subsections (6) to (8) apply for the purposes of provision made by or under this section.
6
Regulating provisions or practices have a significantly adverse effect on competition if—
a
they have, or are intended or likely to have, that effect; or
b
the effect that they have, or are intended or likely to have, is to require or encourage behaviour which has, or is intended or likely to have, a significantly adverse effect on competition.
7
If regulating provisions or practices have, or are intended or likely to have, the effect of requiring or encouraging exploitation of the strength of a market position they are to be taken to have, or be intended or be likely to have, an adverse effect on competition.
8
In determining whether any of the regulating provisions or practices have, or are intended or likely to have, a particular effect, it may be assumed that the persons to whom the provisions concerned are addressed will act in accordance with them.
9
“Regulating provisions” means—
a
listing rules,
b
general guidance given by the competent authority in connection with its functions under this Part.