The Economic Regulation of Airports (Designation) Order 1986
Part IV of the Airports Act 1986 provides that certain airports, whose annual turnover is above £1 million or such other sum as is for the time being specified in section 14(1) of that Act, shall be subject to economic regulation and that no airport charges may be levied at such an airport except by the airport operator to whom a permission to do so in respect of that airport has been granted. It also provides that, for so long as a permission is for the time being in force in respect of an airport, the airport operator shall comply with such conditions as are for the time being in force in relation to the airport by virtue of the provisions of Part IV. Section 40 provides that where an airport subject to economic regulation is designated for the purposes of the section by an order made by the Secretary of State conditions must be imposed for securing that the accounts of the airport operator disclose certain information and for regulating the maximum amounts of airport charges which may be levied within five year periods.