Legislation – The Competition (Amendment etc.) (EU Exit) Regulations 2019

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Introduction

PART 1
Introduction

1 Citation, commencement and extent

PART 2
Amendment of the Competition Act 1998

2 The Competition Act 1998 is amended as follows.

3 (1) Section 10 is amended as follows.

4 After section 10 insert— Power to vary etc retained block…

5 Omit section 11.

6 (1) Section 25 is amended as follows.

7 In section 25A(1)(b), for “subsections (2) to (7)” substitute “subsections…

8 In section 31(2)— (a) at the end of paragraph (a),…

9 In section 32(1), omit “or that it infringes the prohibition…

10 In section 33(1), omit “or that it infringes the prohibition…

11 In section 35— (a) in subsection (1), for “subsections (8)…

12 In section 36— (a) in subsection (1), omit “or that…

13 In section 38— (a) in subsection (1), for the words…

14 In section 46(3)— (a) omit paragraphs (b) and (d);

15 In section 47(1)(a), for “paragraphs (a) to (f)” substitute “paragraph…

16 (1) Section 47A is amended as follows.

17 In section 49C(11), for the definition of “infringement decision” (but…

18 In section 52, omit subsection (1A).

19 (1) Section 58(2) is amended as follows.

20 In section 58A, omit subsection (4).

21 (1) Section 59(1) is amended as follows.

22 Omit section 60).

23 After section 60 insert— Certain principles etc to be considered…

24 Omit Parts 2 and 2A.

25 In section 72(1), omit “, 65 or 65L to 65N”….

26 (1) Section 73 is amended as follows.

27 Omit section 75A.

28 In Schedule 1, omit Part 2.

29 (1) Schedule 3 is amended as follows.

30 (1) Schedule 8A is amended as follows.

31 (1) Schedule 9 is amended as follows.

PART 3
Amendment of the Enterprise Act 2002

32 The Enterprise Act 2002 is amended as follows.

33 In section 16(6), for the definition of “infringement issue” substitute—…

34 (1) Section 22 is amended as follows.

35 In section 25— (a) omit subsections (6), (7) and (8);…

36 (1) Section 33 is amended as follows.

37 In section 34(1)(b), for “, 59(2) or 67(2)” substitute “or…

38 In section 34ZA, omit subsection (5).

39 In section 34ZB, omit subsections (5) and (8).

40 (1) Section 34ZC is amended as follows.

41 Omit section 34A (and the italic heading before it).

42 (1) Section 42 is amended as follows.

43 In section 46— (a) in subsection (1), omit paragraphs (b)…

44 Omit sections 46A and 46B (and the italic heading before…

45 In section 58— (a) in subsection (2), omit the words…

46 In section 59(6)(c), omit “, (6) and (8)”.

47 Omit sections 67 and 68 (and the italic heading before…

48 In section 73A(1), omit paragraph (b) and the “or” before…

49 In section 99(5)— (a) at the end of paragraph (b),…

50 In section 107(1), omit paragraphs (ae), (af), (ag) and (ah)….

51 (1) Section 110B is amended as follows.

52 Omit section 122.

53 (1) Section 124 is amended as follows.

54 In section 129(1)— (a) omit the definition of “EU law”;…

55 In section 130, in the table— (a) omit the entry…

56 In section 153(2), omit the words from “; and in…

57 In section 171, omit subsections (6) and (11).

58 Omit section 209.

59 Omit section 240.

PART 4
Amendment of other primary legislation

60 Schedule 1 (which amends other primary legislation) has effect.

PART 5
Amendment of subordinate legislation

61 Schedule 2 (which amends subordinate legislation) has effect.

PART 6
Amendment of retained EU law

62 Cessation of Treaty Rights and Obligations

63 Amendment of retained direct EU legislation

PART 7
Saving and transitional provision

64 Schedule 4 (which makes saving and transitional provision) has effect….

SCHEDULES

SCHEDULE 1 Amendment of other primary legislation

SCHEDULE 2 Amendment of subordinate legislation

SCHEDULE 3 Amendment of retained direct EU legislation

SCHEDULE 4 Saving and transitional provision

Signature

Explanatory note

SCHEDULE 2Amendment of subordinate legislation

PART 2Amendment of subordinate legislation made under the Enterprise Act 2002

Enterprise Act 2002 (Mergers) (Interim Measures: Financial Penalties) (Determination of Control and Turnover) Order 2014

7.

(1)

The Schedule to the Enterprise Act 2002 (Mergers) (Interim Measures: Financial Penalties) (Determination of Control and Turnover) Order 201486 is amended as follows.

(2)

In paragraph 1(1), in the definition of “financial institution”—

(a)

for “EU” substitute “United Kingdom”;

(b)

omit the “and” at the end;

(3)

In paragraph 1(1), in the definition of “insurance undertaking”—

(a)

in paragraphs (a) and (b), for “European Economic Area” substitute “United Kingdom”;

(b)

omit the “or” at the end of paragraph (b); and

(c)

for paragraph (c) substitute—

“(c)

a reinsurance undertaking; or

(d)

a third-country reinsurance undertaking;”.

(4)

In paragraph 1(1), after the definition of “insurance undertaking” insert—

““reinsurance undertaking” means an undertaking which—

(a)

has its head office in the United Kingdom;

(b)

has permission under Part 4A of the Financial Services and Markets Act 2000 to carry on one or more regulated activities;

(c)

effects or carries out contracts of insurance that are limited to reinsurance contracts; and

(d)

would require authorisation in accordance with Article 14 of Directive 2009/138/EC of the European Parliament and of the Council of 25 November 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II), if the United Kingdom were a Member State; and

“third-country reinsurance undertaking” means an undertaking which, if its head office were in the United Kingdom—

(a)

would require permission under Part 4A of the Financial Services and Markets Act 2000 to carry out regulated activities relating to reinsurance; and

(b)

immediately before exit day, would have required authorisation as a reinsurance undertaking in accordance with Article 14 of Directive 2009/138/EC.”.