Citation, commencement and transitional provision

1. —(1) This Order may be cited as the Enterprise Act 2002 (Specification of Additional Section 58 Consideration) Order 2008 and shall come into force on 24th October 2008.

(2) This Order shall apply in relation to cases under consideration by the OFT, OFCOM, the Commission or the Secretary of State before the making of this Order as well as cases under consideration on or after the making of this Order.

Amendment of section 58 of the Enterprise Act 2002

2. In section 58 of the Enterprise Act 2002 (specified considerations), after subsection (2C) insert—

“ (2D) The interest of maintaining the stability of the UK financial system is specified in this section (other than for the purposes of sections 67 and 68 or references made, or deemed to be made, by the European Commission to the OFT under article 4(4) or 9 of the EC Merger Regulation). ”

Amendment of sections 129 and 130 of the Enterprise Act 2002

3. —(1) In section 129(1) of that Act (definitions), after the definition of “supply” and before the word “and” which follows it insert—

“ “the UK financial system” means the financial system in the United Kingdom; ” .

(2) In section 130 of that Act (index of defined expressions), in the table, after the entry for “The turnover in the United Kingdom of an enterprise” insert the following entry—

(a) in the first column, “The UK financial system”, and

(b) in the second column “Section 129(1)”.

Amendment of Schedule 8 to the Enterprise Act 2002

4. In Schedule 8 of that Act (provision that may be contained in certain enforcement orders), after paragraph 20A insert—

“ Maintaining the stability of the UK financial system

20B. —(1) This paragraph applies for the purposes of a relevant order under paragraph 5, 10 or 11 of Schedule 7 (enforcement orders in cases relating to the stability of the UK financial system) but not for any other purposes of Part 3 or 4 or any other enactment.

(2) The order may make such provision as the person making the order considers to be appropriate in the interest of maintaining the stability of the UK financial system.

(3) Such provision may, in particular, include provision requiring a person to do, or not to do, particular things.

(4) This paragraph is without prejudice to the operation of the other paragraphs of this Schedule in relation to the order.

(5) In this paragraph “relevant order” means an order—

(a) which is to be made following the giving of an intervention notice or special intervention notice which mentions the consideration specified in section 58(2D) (including, in the case of a notice given before the consideration was so specified, an intervention notice which mentions the consideration as a consideration which ought to be specified in section 58); and

(b) to which the consideration is still relevant. ” .