A G E N D A 1. APOLOGIES FOR ABSENCE Ian Metcalfe 2 ...

Monitor will have concurrent powers to apply competition law, meaning that either Monitor or theOFT could act in relation to a particular case. Monitor and the OFT will decide which organisationis best placed to investigate an issue on a case-by-case basis.As far as possible, we intend that the procedures Monitor follows are consistent whether takingaction under the Act or the Competition Act or the TFEU. But when Monitor takes action under theCompetition Act, we must adhere to the same statutory rules that the OFT would if it were takingthe case (see Competition Act 1998 (Office of Fair Trading’s Rules) Order 2004 StatutoryInstrument 2751 of 2004 http://www.legislation.gov.uk/uksi/2004/2751/contents/made). Similarly,when enforcing Articles 101 and 102 of the TFEU, Monitor must comply with the requirements inEuropean Union Regulation 1/2003.In any enforcement proceedings under the Competition Act, Monitor will also be required to haveregard to:• the OFT’s guidance on the circumstances in which it may be appropriate to accept bindingcommitments. This is contained in an annex to the OFT’s Enforcement Guidelines, seehttp://www.oft.gov.uk/shared_oft/business_leaflets/ca98_guidelines/oft407.pdf.• the OFT’s guidance as to the appropriate amount of a penalty, seehttp://www.oft.gov.uk/shared_oft/business_leaflets/ca98_guidelines/oft423.pdf.The following sections of this proposed guidance are also relevant to investigations under theCompetition Act or TFEU:Chapter 2 - deciding whether a matter is a priority;Chapter 4, section 4.2 - case initiation and case updates;Chapter 5 - decision making; andChapter 6 - appeals.We may, in the future, publish more detailed guidance on Monitor’s procedures in applyingcompetition law.Page 39 of 50