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Financial Services and Markets Act 2000

Financial Services and Markets Act 2000

2000 CHAPTER 8

Commentary on Sections

Part Xviii: Recognised Investment Exchanges and Clearing Houses

Chapter II: Competition Scrutiny
Section 309: Statements by the Treasury

557.This section makes provision for statements to be made by the Treasury when they decline to give a remedial direction under the preceding section.

558.Subsection (1) provides that if the Treasury decide not to give a remedial direction  action following a Commission report that they should, they must produce a statement giving their reasons.  Subsection (2) provides that if they do give such direction they must give details of this.  In addition, if they have made a direction in a case where the Commission has concluded that the adverse effect on competition is justified, they must publish a statement giving their reasons for doing so.

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