3(1)Section 137 of the 2002 Act (time-limits for market investigations and reports) is amended as follows.U.K.
(2)In subsection (1), for “two years” substitute “ 18 months ”.
(3)After subsection (2) insert—
“(2A)The CMA may extend, by no more than 6 months, the period within which its report under section 136 is to be prepared and published if it considers that there are special reasons for doing so.
(2B)An extension under subsection (2A) shall come into force when published under section 172.
(2C)No more than one extension is possible under subsection (2A).”
(4)For subsection (3) substitute—
“(3)The Secretary of State may by order amend this section so as to alter one or more of the following periods—
(a)the period of 18 months mentioned in subsection (1) or any period for the time being there mentioned in substitution for that period;
(b)the period of 6 months mentioned in subsection (2A) or any period for the time being there mentioned in substitution for that period.”
(5)For subsection (4) substitute—
“(4)But no alteration shall be made by virtue of subsection (3) which results in—
(a)the period for the time being mentioned in subsection (1) exceeding 18 months; or
(b)the period for the time being mentioned in subsection (2A) exceeding 6 months.”
Commencement Information
I1Sch. 12 para. 3 partly in force; sch. 12 para. 3 in force for specified purposes at Royal Assent, see s.103(1)(i)
I2Sch. 12 para. 3 in force at 1.4.2014 in so far as not already in force by S.I. 2014/416, art. 2(1)(d) (with Sch.)