Part 3Mergers

Chapter 5Supplementary

Merger notices

100 Exceptions to protection given by merger notices

(1)

F1Sections 22(3)(za) and 33(3)(za) do not prevent any reference being made F2under section 22 F3, 33, 68B or 68C if—

(a)

before the end of F4the initial period (within the meaning of section 34ZA) in relation to the merger notice, the F5CMA rejects the notice under section 99(5);

F6(b)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(c)

any information (whether prescribed information or not) that—

(i)

is, or ought to be, known to the person who gave the merger notice or any connected person; and

(ii)

is material to the notified arrangements;

is not disclosed to the F5CMA F7...;

(d)

at any time after the merger notice is given but before the enterprises to which the notified arrangements relate cease to be distinct from each other, any of those enterprises ceases to be distinct from any enterprise other than an enterprise to which those arrangements relate;

(e)

the six months beginning with the end of F8the initial period (within the meaning of section 34ZA) in relation to the merger notice expires without the enterprises to which the notified arrangements relate ceasing to be distinct from each other;

(f)

the merger notice is withdrawn; or

(g)

any information given in respect of the notified arrangements (whether in the merger notice or otherwise) by the person who gave the notice or any connected person is in any material respect false or misleading.

(2)

Subsection (3) applies where—

(a)

two or more transactions which have occurred, or, if any arrangements are carried into effect, will occur, may be treated for the purposes of a reference under F9section 22 F10, 33, 68B or 68C as having occurred simultaneously on a particular date; and

(b)

F11sections 22(3)(za) and 33(3)(za) do not prevent such a reference in relation to the last of those transactions.

(3)

F12Sections 22(3)(za) and 33(3)(za) do not not prevent such a reference in relation to any of those transactions which actually occurred less than six months before—

(a)

that date; or

(b)

the actual occurrence of another of those transactions in relation to which such a reference may be made (whether or not by virtue of this subsection).

(4)

In determining for the purposes of subsections (2) and (3) the time at which any transaction actually occurred, no account shall be taken of any option or other conditional right until the option is exercised or the condition is satisfied.

(5)

In this section references to the enterprises to which the notified arrangements relate are references to those enterprises that would have ceased to be distinct from one another if the arrangements mentioned in the merger notice concerned had been carried into effect at the time when the notice was given.