Part 2: Competition Chapter 5: Miscellaneous Schedule 12: Civil penalties: amendments relating to sectoral regulators
Schedule 12 makes amendments to the legislation by virtue of which sector regulators are able to exercise some functions under Part 1 of the Competition Act 1998 and Part 4 of the Enterprise Act 2002 on a concurrent basis with the CMA.
	Schedules 10 and 11 to the Act make amendments which introduce new functions which, without provision otherwise, would fall to be exercised by the concurrent regulators. The new functions under section 35C in Part 1 of the Competition Act 1998 and section 167C in Part 4 of the Enterprise Act 2002 which relate to the preparation and publication of statements of policy concerning the exercise of the new powers to impose financial penalties are not to be exercised by the concurrent regulators. The function at existing section 174E in Part 4 of the Enterprise Act 2002 is also not to be exercised by concurrent regulators. The statements of policy to be prepared by the CMA will apply to the exercise of the functions by the concurrent regulators, and the CMA will be required to consult with the concurrent regulators in the preparation of the statements. Schedule 12 makes provision which amends the sector specific legislation so that the functions at section 35C of the Competition Act 1998 and section 167C and 174E of the Enterprise Act 2002 are not exercisable concurrently by the sector regulators.