(1) Section 54 of the 1998 Act (concurrent powers for regulators) is amended as follows.

(2) In subsection (6) -

(a) after "may" insert " -

(a) prescribe circumstances in which the CMA may decide that, in a particular case, it is to exercise Part 1 functions in respect of the case rather than a regulator;

(b) ", and 

(b) after "Secretary of State" insert ", the CMA".

(3) After subsection (6) insert -

"(6A) Where the regulations make provision as mentioned in subsection (6)(a), they must -

(a) include provision requiring the CMA to consult the regulator concerned before making a decision that the CMA is to exercise Part 1 functions in respect of a particular case, and

(b) provide that, in a case where a regulator has given notice under section 31(1) that it proposes to make a decision (within the meaning given by section 31(2)), the CMA may only decide that it is to exercise Part 1 functions in respect of the case rather than the regulator if the regulator consents."

(4) After subsection (6A) insert -

"(6B) The Secretary of State may by regulations make provision requiring arrangements to be made for the sharing of information between competent persons in connection with concurrent cases.