Part 1Digital Markets
Chapter 5Mergers
63Delay to possible mergers etc
(1)
A person to whom the duty in section 57(1) applies in relation to a reportable event must not allow the event to take place—
(a)
without a report in relation to the event having been given to the CMA under section 57(1), or
(b)
before the end of the waiting period in relation to the event.
(2)
The waiting period in relation to a reportable event is the period of 5 working days beginning with the first working day after the day on which the CMA gives the person that made a report a notice under section 62(1) confirming that the CMA accepts that the report relating to the event is sufficient.
(3)
If a reportable event takes place in contravention of subsection (1), each person to whom the duty in section 57(1) applied in relation to the event is to be treated as having breached subsection (1).
(4)
The CMA may—
(a)
give its consent to a reportable event happening before the end of the waiting period;
(b)
revoke that consent before the reportable event happens.
(5)
Subsection (1) does not apply in relation to a reportable event where the CMA gives and does not revoke consent under subsection (4) in relation to a reportable event.
(6)
Section 95 of EA 2002 (rights to enforce statutory restrictions) applies in relation to the obligation to comply with subsection (1) as it applies in relation to the obligation to comply with section 77(2) or (3) or 78(2) of that Act.