(1) The Regulator shall, taking the utmost account of the Recommendation and the SMP guidelines, define relevant markets appropriate to national circumstances, in particular the relevant geographic markets within the State by taking into account, inter alia, the degree of infrastructure competition in those areas, in accordance with the principles of competition law.

(2) The Regulator shall, where relevant, also take into account the results of the geographical survey conducted in accordance with Regulation 100 and it shall follow the procedures referred to in Regulations 17 and 101 before defining markets that differ from those identified in the Recommendation.