Regulatory References
In relation to regulatory references, the CC’s role is dictated by the relevant sector-specific legislation. Companies regulated under the gas, electricity, water and sewerage, postal services, railways or airports legislation generally have a formal instrument (a licence) setting out the terms of their operation. If a regulated company does not agree to a modification of its licence proposed by the regulator, the regulator must refer the question to the CC. The CC will consider whether any matter referred to in the reference may be expected to operate against the public interest and, if so, whether this could be remedied by modifications to the licence. These references can involve the price control applied to the company.
The CC also has roles under the Financial Services and Markets Act 2000 and the Legal Services Act 2007.
Read more about this topic: Competition Commission (United Kingdom)