Commentary Regulatory and competition functions Section 62: Duty to consider exercise of powers under Competition Act 1998
239.Section 62 imposes a requirement on the Payment Systems Regulator, before exercising any of the powers mentioned in subsection (2), to consider whether it would be more appropriate to take action under its new powers in CA98. Subsection (3) prohibits the Payment Systems Regulator from exercising a power mentioned in subsection (2) if it considers that it would be more appropriate to proceed under CA98.