Where the Secretary of State is considering whether—
he shall first send a copy of the proposed rules or regulations to the OFT.
The OFT shall consider whether the proposed rules or regulations would have, or would be likely to have, the effect of restricting, distorting or preventing competition to any significant extent.
When the OFT has completed its consideration it shall give such advice to the Secretary of State as it thinks fit.
The OFTshall keep under review the rules made by the Board and the regulations made by the Secretary of State under section 40.
If the OFTis of the opinion that any such rule or regulation has, or is likely to have, the effect of restricting, distorting or preventing competition to any significant extent, it shall report its opinion to the Secretary of State .
Any report under subsection (5) shall state what, in the OFT’sopinion, is the effect of the rule or regulation or its likely effect.
The OFTmay publish any advice given by itunder subsection (3) or report made by it under subsection (5).
The OFT shall, so far as practicable, exclude from anything published under subsection (7) any matter—