Part 3Mergers
Chapter 1Duty to make references
Determination of references
39 Time-limits for investigations and reports
(1)
The F1CMA shall prepare and publish its report under section 38 within the period of 24 weeks beginning with the date of the reference concerned.
F2(2)
Where article 9(6) of the European Merger Regulations applies in relation to the reference under section 22 or 33, the Commission shall prepare and publish its report under section 38—
(a)
within the period of 24 weeks beginning with the date of the reference; or
(b)
if it is a shorter period, within such period as is necessary to ensure compliance with that article.
F3(2A)
Where the CMA and the persons carrying on the enterprises concerned agree—
(a)
that the period within which a report under section 38 is to be prepared and published (the “original period”) should be extended, and
(b)
the duration of the period by which the original period should be extended (the “extension period”),
the CMA may extend the original period by the extension period.
(3)
F5(3A)
The CMA may extend, by no more than 11 weeks, the period within which a report under section 38 on a reference under section 22(1A) or 33(1A) is to be prepared and published if it considers that there are special reasons why the report cannot be prepared and published within that period.
(4)
The F6CMA may extend the period within which a report under section 38 is to be prepared and published if it considers that a relevant person has failed (whether with or without a reasonable excuse) to comply with any requirement of a notice under section 109.
(5)
In F7this section “relevant person” means—
(a)
any person carrying on any of the enterprises concerned;
(b)
any person who (whether alone or as a member of a group) owns or has control of any such person; or
(c)
any officer, employee or agent of any person mentioned in paragraph (a) or (b).
(6)
For the purposes of subsection (5) a person or group of persons able, directly or indirectly, to control or materially to influence the policy of a body of persons corporate or unincorporate, but without having a controlling interest in that body of persons, may be treated as having control of it.
(7)
F10(7A)
An extension under subsection (2A) continues in force until—
(a)
the end of the extension period, or
(b)
an earlier time if, before the end of that period—
(i)
the CMA and the persons carrying on the enterprises concerned agree that the extension should be cancelled with effect from the earlier time, and
(ii)
the CMA publishes its decision to cancel the extension with effect from that time.
(8)
An extension under subsection (4) shall continue in force until—
(a)
(b)
the F6CMA publishes its decision to cancel the extension.
F11(8A)
In the case of a report on a reference under section 33, the CMA may provide that a specified period of no more than 3 weeks is to be disregarded for the purposes of any time-limit for the preparation and publication of the report which applies by virtue of this section if—
(a)
a relevant person has so requested before the end of the period of 3 weeks beginning with the date of the reference concerned; and
(b)
the CMA reasonably believes that the arrangements in question might be abandoned.
(8B)
If the CMA exercises the power under subsection (8A), the CMA shall publish a notice to that effect.
(9)
References in this Part to the date of a reference shall be construed as references to the date specified in the reference as the date on which it is made.
(10)
This section is subject to section 40.