The CMA must prepare and publish a statement of policy in relation to the exercise of functions under sections 167 and 167A.

The CMA must, in particular, include a statement about the considerations relevant to the determination of the amount of any penalty imposed under section 167A.

The CMA may revise its statement of policy and, where it does so, it must publish the revised statement.

The CMA must consult the Secretary of State and such other persons as it considers appropriate when preparing or revising its statement of policy.

A statement or revised statement of policy may not be published under this section without the approval of the Secretary of State.