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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 1 April 2014 - onwards
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140H. Role of the Treasury

(1) This section applies where -

(a) the CMA has given section 140B advice and the regulator has published a response under section 140G, and

(b) the the CMA remains of the opinion that one or more of the things mentioned in section 140B(4) may cause or contribute to, the effect mentioned in section 140B(5).

(2) The CMA may refer the section 140B advice to the Treasury by sending the Treasury -

(a) a copy of the section 140B advice and of the response, and

(b) a request to consider the advice and the response.

(3) In referring the section 140B advice, the CMA may give advice to the Treasury as to what action, if any, ought to be taken by the regulator.

(4) If section 140B advice is referred to them, the Treasury may give a direction to the regulator to which the advice was given requiring the regulator to take such action as may be specified in the direction.

(5) In considering whether to give a direction and, if so, what action to specify, the Treasury must have regard to -

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