C2C3C4 Part I Competition

Annotations:
Modifications etc. (not altering text)
C2

Pt. 1: certain functions made exercisable concurrently (26.11.1998 for certain purposes and prosp. otherwise) by 1984 c. 12, s. 50(3) (as substituted by 1998 c. 41, s. 66(5), Sch. 10 Pt. II para. 2(6) (with s. 73); S.I. 1998/2750, art. 2)

C3

Pt. 1 (except ss. 38(1)-(6), 51) amended (1.2.2001) by 2000 c. 38, ss. 86(1)(3), 89 (with ss. 105(2)(d)(5), 106); S.I. 2001/57, art. 3(1), Sch. 2 Pt. 1

C4

Pt. 1 (except ss. 38(1)-(6), 51, 52(6) and (8) and 54) amended (1.2.2001) by 2000 c. 38, s. 86(4)(b)(5) (with ss. 105(2)(d)(5), 106); S.I. 2001/57, art. 3(1), Sch. 2 Pt. 1

Pt. 1 (except ss. 38(1)-(6), 51) amended (1.2.2001) by 2000 c. 38, s. 86(7)(b) (with ss. 105(2)(d)(5), 106); S.I. 2001/57, art. 3(1), Sch. 2 Pt. 1

Chapter I Agreements

Notification

C116 Effect of a decision that the Chapter I prohibition has not been infringed.

1

This section applies to an agreement if the F1OFT has determined an application under section 14 by making a decision that the agreement has not infringed the Chapter I prohibition.

2

The F1OFT is to take no further action under this Part with respect to the agreement unless—

a

F1it has reasonable grounds for believing that there has been a material change of circumstance since F1it gave F1its decision; or

b

F1it has a reasonable suspicion that the information on which F1it based F1its decision was incomplete, false or misleading in a material particular.

3

No penalty may be imposed under this Part in respect of any infringement of the Chapter I prohibition by an agreement to which this section applies.

4

But the F1OFT may remove the immunity given by subsection (3) if—

a

F1it takes action under this Part with respect to the agreement in one of the circumstances mentioned in subsection (2);

b

F1it considers that it is likely that the agreement will infringe the prohibition; and

c

F1it gives notice in writing to the party on whose application the decision was made that F1it is removing the immunity as from the date specified in F1its notice.

5

If the F1OFT has a reasonable suspicion that information—

a

on which F1it based F1its decision, and

b

which was provided to F1it by a party to the agreement,

was incomplete, false or misleading in a material particular, the date specified in a notice under subsection (4)(c) may be earlier than the date on which the notice is given.