548.This section requires the DGFT to keep all recognised investment exchanges and clearing houses under continuing competition scrutiny.  If, at any time, the DGFT forms the view that any regulatory provision or practice has a significantly adverse effect on competition then he must make a report.
549.Subsection (3) provides that if the DGFT concludes that regulatory provisions or practices do not have such an effect then he has discretion as to whether to make a report.
Commentary on Sections Part Xviii: Recognised Investment Exchanges and Clearing Houses Chapter II: Competition Scrutiny Section 304: Further reports by Director