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The Uncertificated Securities Regulations 1992
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- UK Statutory Instruments
- 1992 No. 225
- PART XV
- Regulation 109
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Competition directions
109.—(1) If it appears to the Secretary of State, after receiving and considering a report under regulation 108, that any such matters as are mentioned regulation 110(1) have or are intended or likely to have to any significant extent the effect of restricting, distorting or preventing competition, and that that effect is greater than is reasonably justifiable having regard to the purposes of these Regulations, he may direct the Operator to take such steps as he may specify for securing that those matters do not have that effect.
(2) It shall be the duty of the Operator to comply with any direction given under this regulation.
(3) It shall be unlawful for the Operator to charge any fee under regulation 106 which is in excess of any figure specified in any direction applicable to it that may be issued under this regulation.
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