Part 3Mergers
Chapter 1Duty to make references
Duty to make references: anticipated mergers
F134ZATime-limits for decisions about references
(1)
In carrying out its function of deciding whether to make a reference under F2section 22(1) or 33(1), the CMA shall, within the initial period—
(a)
decide whether the duty to make a reference under F3the subsection applies (taking account of the power under section 22(2) or (as the case may be) 33(2) and the operation of section 22(3) or (as the case may be) 33(3)); and
(b)
inform the persons carrying on the enterprises concerned by notice of the decision and of the reasons for it.
F4(1A)
In carrying out its function of making a reference under section 22(1A) or 33(1A), the CMA must, within the initial period, inform the persons carrying on the enterprises concerned by notice of the making of the reference.
(2)
Nothing in this section prevents the CMA from making a reference under F5section 22(1) or 33(1) in the event that—
(a)
it decides that the duty to make a reference does not apply because it is considering whether to accept undertakings under section 73; but
(b)
no such undertakings are offered or accepted.
(3)
In this section—
“the initial period” means (subject to any extension under section 34ZB) the period of 40 working days beginning with—
(a)
where the CMA is carrying out its function in consequence of the giving of a merger notice under section 96, the first working day after the day on which the CMA gives notice under section 96(2A) to the person who gave the merger notice, and
(b)
in any other case, the first working day after the day on which the CMA informs the persons carrying on the enterprises concerned by notice that it has sufficient information to enable it to begin an investigation for the purposes of deciding whether to make a reference;
F6...
(4)
For the purposes of paragraph (a) in the definition of “initial period” in subsection (3), the CMA is carrying out its function in consequence of the giving of a merger notice under section 96 if it is considering whether to make a reference under section 22 or 33 in relation to—
(a)
arrangements of which notice is given in the merger notice or arrangements which do not differ from them in any material respect, or
(b)
the creation of any relevant merger situation which is, or may be, created in consequence of carrying such arrangements into effect.
F7(5)
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