Part 3Mergers

Chapter 1Duty to make references

Duty to make references: anticipated mergers

F134ZCSections 34ZA and 34ZB: supplementary

(1)

An extension of the F2initial period for the purposes of section 34ZA(1) may be made under each of F3subsections (1) or (4) of section 34ZB.

(2)

No more than one extension is possible under section 34ZB(4).

(3)

Where a period is extended or further extended under F4section 34ZB(1) or (4), the period as extended or (as the case may be) further extended shall, subject to subsections (4) and (5), be calculated by taking the period being extended and adding to it the period of the extension (whether or not those periods overlap in time).

(4)

Subsection (5) applies where—

(a)

the period mentioned in section 34ZA(1) is further extended;

(b)

the further extension and at least one previous extension is made under F5subsection (1) of section 34ZB; and

(c)

the same days or fractions of days are included in or comprise the further extension and are included in or comprise at least one such previous extension.

(5)

In calculating the period of the further extension, any days or fractions of days of the kind mentioned in subsection (4)(c) are to be disregarded.

(6)

The Secretary of State may by order do either or both of the following—

(a)

amend section 34ZA so as to alter the period of 40 working days mentioned in subsection (3) of that section or any period for the time being mentioned in that subsection in substitution for that period;

(b)

amend section 34ZB so as to alter the period of 20 working days mentioned in subsection (4) of that section or any period for the time being mentioned in that subsection in substitution for that period.

(7)

But no alteration may be made by virtue of subsection (6) which results in—

(a)

the period for the time being mentioned in section 34ZA(3) exceeding 40 working days; or

(b)

the period for the time being mentioned in section 34ZB(4) exceeding 20 working days.

(8)

Before making an order under subsection (6), the Secretary of State shall consult the CMA and such other persons as the Secretary of State considers appropriate.

F6(9)

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