Part 3Mergers

Chapter 2Public interest cases

Reports on references

51 Time-limits for investigations and reports by F1CMA

(1)

The F2CMA shall prepare its report under section 50 and give it to the Secretary of State under that section within the period of 24 weeks beginning with the date of the reference concerned.

(2)

F3Where article 9(6) of the European Merger Regulations applies in relation to the reference under section 45, the F2CMA shall prepare its report under section 50 and give it to the Secretary of State—

(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.

F4(2A)

Where —

(a)

the CMA and the persons carrying on the enterprises concerned agree—

(i)

that the period within which a report under section 50 is to be prepared and published (the “original period”) should be extended, and

(ii)

the duration of the period by which the original period should be extended (the “extension period”), and

(b)

the Secretary of State consents to the original period being extended by the extension period,

the CMA may extend the original period by the extension period.

(3)

The F2CMA may extend, by no more than 8 weeks, the period within which a report under section 50 is to be prepared and given to the Secretary of State if it considers that there are special reasons why the report cannot be prepared and given to the Secretary of State within that period.

(4)

The F2CMA may extend the period within which a report under section 50 is to be prepared and given to the Secretary of State 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 subsection (4) “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)

An extension under subsection F5(2A), (3) or (4) shall come into force when published under section 107.

F6(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,

(ii)

the Secretary of State consents to the cancellation of the extension with effect from that time, and

(iii)

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)

the person concerned provides the information or documents to the satisfaction of the F7CMA or (as the case may be) appears as a witness in accordance with the requirements of the F7CMA; or

(b)

the F7CMA publishes its decision to cancel the extension.

(9)

This section is subject to sections 52 and 53.