(1) The functions to which this subsection applies are to be concurrent functions of the Payment Systems Regulator and the Competition and Markets Authority ("the CMA").
(2) Subsection (1) applies to the functions of the CMA under Part 4 of the Enterprise Act 2002 (market investigations), so far as those functions -
(a) are exercisable by the CMA Board (within the meaning of Schedule 4 to the Enterprise and Regulatory Reform Act 2013), and
(b) relate to participation in payment systems.
(3) But subsection (1) does not apply to functions under the following sections of the Enterprise Act 2002 -
section 166 (duty to maintain register of undertakings and orders);
section 171 (duty to publish guidance).
(4) So far as is necessary for the purposes of, or in connection with, subsections (1) and (2) -
(a) references in Part 4 of the Enterprise Act 2002 to the CMA (including references in provisions of that Act applied by that Part) are to be read as including references to the Payment Systems
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