(1) The Panel shall have all the powers necessary for the performance of the functions conferred on it by these Regulations, including that of ensuring that the parties to a bid comply with the rules made by the Panel.

(2) In exercising its powers under this Regulation, the Panel shall not do so in a manner or for a purpose inconsistent with the Directive or these Regulations.

(3) Without prejudice to the generality of its powers under section 8 of the Act of 1997, the Panel is empowered, by virtue of this Regulation, to specify in rules under that section circumstances in which the Panel is enabled to grant derogations from, or waive, any rules under that section.

(4) The powers of the Panel under this Regulation are in addition to, and not in substitution for, the powers of the Panel under the Act of 1997.

(5) If the Panel grants a waiver pursuant to subsection (7) of section 8 of the Act of 1997 (as distinct from pursuant to a power in that behalf in rules made, by virtue of paragraph (3), under that section 8) a reasoned decision shall be given by the Panel for granting the waiver.