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Enterprise Act 2002

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Merger noticesU.K.

96 Merger noticesU.K.

(1)A person authorised to do so by regulations under section 101 may give notice to the [F1CMA] [F2of arrangements or proposed arrangements which might have resulted or might result in the creation of a relevant merger situation].

(2)Any such notice (in this Part a “merger notice”)—

(a)shall be in the prescribed form;

[F3(aa)shall contain the prescribed information;] and

(b)shall state that the existence of the proposal has been made public.

[F4(2A)Where the CMA is satisfied that a merger notice meets the requirements of subsection (2), it shall give notice to that effect to the person who gave the merger notice.]

F5(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F5(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(5)In this section and sections 99(5)(c) and 100(1)(c) “prescribed” means prescribed by the [F6CMA] by notice having effect for the time being and published in the London, Edinburgh and Belfast Gazettes.

(6)In this Part “notified arrangements” means arrangements of which notice is given under subsection (1) above or arrangements not differing from them in any material respect.

F797 Period for considering merger noticesU.K.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F898 Section 97: supplementaryU.K.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

99 Certain functions of [F9CMA] in relation to merger noticesU.K.

(1)The [F10CMA] shall, so far as practicable and when [F11the initial period (within the meaning of section 34ZA) begins in relation to the merger notice], take such action as the [F10CMA] considers appropriate to bring—

(a)the existence of the proposal;

(b)the fact that the merger notice has been given; and

(c)the date on which the period for considering the notice may expire;

to the attention of those whom the [F10CMA] considers would be affected if the arrangements were carried into effect.

F12(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F12(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F12(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(5)The [F13CMA] may, at any time before the end of [F14the initial period (within the meaning of section 34ZA) in relation to a merger notice], reject the notice if—

(a)the [F13CMA] suspects that any information given in respect of the notified arrangements (whether in the merger notice or otherwise) by the person who gave the notice or any connected person is in any material respect false or misleading;

(b)the [F13CMA] suspects that it is not proposed to carry the notified arrangements into effect; [F15or ]

(c)any prescribed information is not given in the merger notice [F16or the person who gave the merger notice has failed (with or without a reasonable excuse) to comply with any requirement of a notice under section 109 in relation to the case concerned]; F17...

F17(d). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(6)In this section and section 100 “connected person”, in relation to the person who gave a merger notice, means—

(a)any person who, for the purposes of section 127, is associated with him; or

(b)any subsidiary of the person who gave the merger notice or of any person so associated with him.

Textual Amendments

F12S. 99(2)-(4) omitted (1.4.2014) by Enterprise and Regulatory Reform Act 2013 (c. 24), s. 57, Sch. 15 para. 35(2), S.I. 2014/416, art. 2(1)(f) (with Sch.)

100 Exceptions to protection given by merger noticesU.K.

(1)[F18Sections 22(3)(za) and 33(3)(za) do not] prevent any reference being made [F19under section 22 [F20, 33, 68B or 68C]] if—

(a)before the end of [F21the initial period (within the meaning of section 34ZA) in relation to the merger notice], the [F22CMA] rejects the notice under section 99(5);

F23(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(c)any information (whether prescribed information or not) that—

(i)is, or ought to be, known to the person who gave the merger notice or any connected person; and

(ii)is material to the notified arrangements;

is not disclosed to the [F22CMA] F24...;

(d)at any time after the merger notice is given but before the enterprises to which the notified arrangements relate cease to be distinct from each other, any of those enterprises ceases to be distinct from any enterprise other than an enterprise to which those arrangements relate;

(e)the six months beginning with the end of [F25the initial period (within the meaning of section 34ZA) in relation to the merger notice] expires without the enterprises to which the notified arrangements relate ceasing to be distinct from each other;

(f)the merger notice is withdrawn; or

(g)any information given in respect of the notified arrangements (whether in the merger notice or otherwise) by the person who gave the notice or any connected person is in any material respect false or misleading.

(2)Subsection (3) applies where—

(a)two or more transactions which have occurred, or, if any arrangements are carried into effect, will occur, may be treated for the purposes of a reference under [F26section 22 [F27, 33, 68B or 68C]] as having occurred simultaneously on a particular date; and

(b)[F28sections 22(3)(za) and 33(3)(za) do not] prevent such a reference in relation to the last of those transactions.

(3)[F29Sections 22(3)(za) and 33(3)(za) do not] not prevent such a reference in relation to any of those transactions which actually occurred less than six months before—

(a)that date; or

(b)the actual occurrence of another of those transactions in relation to which such a reference may be made (whether or not by virtue of this subsection).

(4)In determining for the purposes of subsections (2) and (3) the time at which any transaction actually occurred, no account shall be taken of any option or other conditional right until the option is exercised or the condition is satisfied.

(5)In this section references to the enterprises to which the notified arrangements relate are references to those enterprises that would have ceased to be distinct from one another if the arrangements mentioned in the merger notice concerned had been carried into effect at the time when the notice was given.

Textual Amendments

101 Merger notices: regulationsU.K.

(1)The Secretary of State may make regulations for the purposes of sections 96 to 100.

(2)The regulations may, in particular—

(a)provide for F30... section 100(1)(e) to apply as if any reference to a period of days or months were a reference to a period specified in the regulations for the purposes of the enactment concerned;

(b)provide for the manner in which any merger notice is authorised or required to be rejected or withdrawn, and the time at which any merger notice is to be treated as received or rejected;

F31(c). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F31(d). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F31(e). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F31(f). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F31S. 101(2)(c)-(f) omitted (1.4.2014) by virtue of Enterprise and Regulatory Reform Act 2013 (c. 24), s. 32(2), Sch. 8 para. 12(3), S.I. 2014/416, art. 2(1)(d)

102 Power to modify sections 97 to 101U.K.

The Secretary of State may, for the purposes of determining the effect of giving a merger notice and the action which may be or is to be taken by any person in connection with such a notice, by order modify sections 97 to 101.

Yn ôl i’r brig

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