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11If the Director has determined an application under paragraph 3 by making a decision that the exercise or proposed exercise of a function to which this Schedule applies meets the competition test, he is to take no further action under this Schedule with respect to it unless—
(a)he has reasonable grounds for believing that there has been a material change of circumstance since he made his decision, or
(b)he has a reasonable suspicion that the information on which he based his decision was incomplete, false or misleading in a material particular.