Part I Competition

Chapter I Agreements

Notification

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

F1(1)

This section applies to an agreement if the F2OFT has determined an application under section 14 by making a decision that the agreement has not infringed the Chapter I prohibition.

(2)

The F2OFT is to take no further action under this Part with respect to the agreement unless—

(a)

F2it has reasonable grounds for believing that there has been a material change of circumstance since F2it gave F2its decision; or

(b)

F2it has a reasonable suspicion that the information on which F2it based F2its 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 F2OFT may remove the immunity given by subsection (3) if—

(a)

F2it takes action under this Part with respect to the agreement in one of the circumstances mentioned in subsection (2);

(b)

F2it considers that it is likely that the agreement will infringe the prohibition; and

(c)

F2it gives notice in writing to the party on whose application the decision was made that F2it is removing the immunity as from the date specified in F2its notice.

(5)

If the F2OFT has a reasonable suspicion that information—

(a)

on which F2it based F2its decision, and

(b)

which was provided to F2it 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.