Regulation 4 Approval of redress scheme

(1)

Subject to paragraph (2), the CMA may approve a redress scheme under section 49C of the Act only if it—

(a)

has been devised in accordance with the process specified in regulation 5;

(b)

contains all of the information required by regulation 6; and

(c)

contains all of the terms required by regulation 7.

(2)

Paragraph (1) does not apply where the CMA approves a redress scheme at the same time as making the infringement decision to which the scheme relates; but the CMA may only approve a scheme in such cases if—

(a)

the applicant has provided information to the CMA about the time when, and how, the scheme will comply with the requirements in paragraphs (1)(a), (b) and (c); and

(b)

the CMA is satisfied that any conditions imposed under section 49C(4) or (5)(a) of the Act will ensure that the scheme will comply with those requirements within a period of time specified in those conditions.