The competition framework Schedule 4: The Competition and Markets Authority
150.Schedule 4 makes provision for the governance and decision making structure of the CMA.
151.Schedule 4 provides the CMA with a corporate governance structure that ensures independence of its decision making from Government and from the regulators against whose decisions it may hear appeals. This structure also provides for the separation and independence of decision making within the CMA so that certain decisions are taken by the CMA’s Board and others are taken by groups of independent members drawn from the CMA’s panel. This reflects the two phases of decision-making in merger and markets cases and the CMA’s role in relation to regulatory appeals and references.
152.In the current regime, the OFT decides whether to refer a merger or a market for further investigation and the CC carries out that investigation. Decisions made by the OFT are made by its Board or staff where authority has been delegated to them by the Board. The CC’s decision-making functions on mergers cases, market investigations and regulatory appeals/references are exercised by inquiry groups of members drawn from a pool of panel members appointed by the Secretary of State. These groups exercise the functions of the CC for the purposes of the inquiries on which they are appointed.