(1) There is to be a body corporate known as the Competition and Markets Authority.
(2) In this Part that body is referred to as "the CMA".
(3) The CMA must seek to promote competition, both within and outside the United Kingdom, for the benefit of consumers.
(4) Schedule 4 (which makes provision about the CMA) has effect.
(5) In making any decision, or otherwise taking action, for the purposes of any of its functions within Schedule 4A the CMA must have regard to the need for making a decision, or taking action, as soon as reasonably practicable.