PART 4

CMA: referrals and functions
CHAPTER 2

General functions

Monitoring and reporting on subsidy control
65
1
The CMA must, in relation to each relevant period, undertake a review of—
a
the effectiveness of the operation of this Act, and
b
the impact of the operation of this Act on competition and investment within the United Kingdom.
2
The CMA must prepare a report on the outcome of the review in relation to each relevant period.
3
Subject to subsection (5), “relevant period” means—
a
the period beginning with the commencement date and ending with 31 March in the third year after the year in which the commencement date falls,
b
the following period of three years, and
c
each subsequent period of five years.
4
The Secretary of State may direct the CMA to prepare a report in relation to a specified period.
5
The Secretary of State may exercise the power in subsection (4) only after the CMA has prepared its reports in relation to the first two relevant periods mentioned in subsection (3).
6
Where the CMA prepares a report in relation to a specified period, “relevant period” means—
a
the period beginning with the day after the last day of the specified period and ending with the 31 March in the fifth year after the year in which the day after the last day of the specified period falls, and
b
each subsequent period of five years.
7
The CMA must publish a report under this section as soon as practicable after the end of the period to which it relates and in such manner as the CMA considers appropriate.
8
The CMA must arrange for a copy of a report prepared under this section to be laid before Parliament.
9
In this section, “commencement date” means the day on which this section comes into force.
S. 65 not in force at Royal Assent, see s. 91(2)
S. 65 in force at 4.1.2023 by S.I. 2022/1359, reg. 2