3(1)This paragraph applies where the Board receives a request under paragraph 2, in respect of an activity, from—E+W
(a)the Lord Chancellor,
(b)the OFT,
(c)the Consumer Panel, or
(d)the Lord Chief Justice.
(2)The Board must—
(a)carry out such inquiries as it considers appropriate to enable it to determine whether it is appropriate to hold a section 24 investigation or, as the case may be, a section 26 investigation in respect of the activity, and
(b)make that determination within the preliminary inquiry period.
(3)“The preliminary inquiry period” means the period of 3 months beginning with the day on which the request under paragraph 2 was received by the Board.
(4)The Board may, before the end of the preliminary inquiry period in relation to a request, issue a notice extending that period by a period specified in the notice.
(5)More than one notice may be issued under sub-paragraph (4), but the total preliminary inquiry period must not exceed 4 months.
(6)A notice under sub-paragraph (4) must state the Board's reasons for extending the preliminary inquiry period.
(7)The Board must publish a notice issued under sub-paragraph (4).