Time limits
5(1)A reference must specify a period within which the Competition Commission must make a report on the reference.
(2)A period specified for the purposes of sub-paragraph (1) must not be longer than six months beginning with the date of the reference.
(3)A report of the Commission on a reference does not have effect (and no action may be taken in relation to it under paragraph 7) unless the report is made before the end of—
(a)the period specified in the reference, or
(b)such further period as is allowed under sub-paragraph (4).
(4)Monitor may, if it receives representations on the subject from the Competition Commission and is satisfied that there are special reasons why the report cannot be made within the period specified in the reference, extend the period by no more than six months.
(5)But Monitor may not make more than one extension under sub-paragraph (4) in relation to the same reference.
(6)Where Monitor makes an extension under sub-paragraph (4), it must send notice of the extension to the relevant persons.
(7)Monitor must also publish the notice.