Part 4Market Studies and Market Investigations

Chapter 1 Market Studies and market investigation references

Determination of references

137 Time-limits for market investigations and reports

(1)

The F1CMA shall prepare and publish its report under section 136 within the period of F218 months beginning with the date of the market investigation reference concerned.

(2)

Subsection (1) is subject to section 151(3) and (5).

F3(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).

F4(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.

F5(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.

(5)

An order under subsection (3) shall not affect any period of time within which the F6CMA is under a duty to prepare and publish its report under section 136 in relation to a market investigation reference if the F6CMA is already under that duty in relation to that reference when the order is made.

(6)

Before making an order under subsection (3) the Secretary of State shall consult the F7CMA and such other persons as he considers appropriate.

(7)

References in this Part to the date of a market investigation reference shall be construed as references to the date specified in the reference as the date on which it is made.