2021 No. 993

Competition

The Public Interest Merger Reference (Perpetuus Advanced Materials plc) (Pre-emptive Action) Order 2021
Made
at 6.30 p.m. on 5th September 2021
Coming into force
at 7.30 p.m. on 5th September 2021
Laid before Parliament
on 7th September 2021
The Secretary of State has reasonable grounds for suspecting that it is or may be the case that as a result of the proposed acquisition of Perpetuus Advanced Materials plc by Taurus International Ltd, its interconnected bodies corporate, Dr. Zhongfu Zhou, or other persons or bodies corporate associated with Dr. Zhongfu Zhou, arrangements are in progress or in contemplation which, if carried into effect, will result in two or more enterprises ceasing to be distinct.
An intervention notice in respect of the relevant merger situation concerned, given by the Secretary of State on 5th September 2021 under section 42 of the Enterprise Act 2002 , is in force.
In the opinion of the Secretary of State the exercise of the powers as set out in this Order is required for the purpose of preventing action which might prejudice a reference of the matter to the Competition and Markets Authority under section 45 of the Enterprise Act 2002 or impede the taking of any action under Part 3 of that Act which may be justified by the Secretary of State’s decisions on the reference.
The Secretary of State, for the purpose of preventing pre-emptive action , in exercise of the powers conferred by sections 86(1) and (3), 87(1) and (3) and 124(2)(b) of, and paragraph 2(2) of Schedule 7 to, the Enterprise Act 2002 , makes the following Order:
2002 c.40; section 42 was amended by paragraphs 59 and 82 of Schedule 5, and paragraphs 15 and 21 of Schedule 15, to the Enterprise and Regulatory Reform Act 2013 (c. 24) and S.I. 2019/93.
Section 45 was amended by paragraphs 59 and 85 of Schedule 5 to the Enterprise and Regulatory Reform Act 2013; there is another amendment to section 45 but it is not relevant to this Order.
“Pre-emptive action” is defined in paragraph 2(12) of Schedule 7 to the Enterprise Act 2002 (paragraph 2(12) was inserted into Schedule 7 by paragraphs 1 and 4 of Schedule 7 to the Enterprise and Regulatory Reform Act 2013).
Paragraph 2(2) of Schedule 7 was amended by paragraphs 59 and 160 of Schedule 5 to the Enterprise and Regulatory Reform Act 2013.