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[F119.(1)The limitation or prescriptive period for a competition claim against an infringer begins with the later of—
(a)the day on which the infringement of competition law that is the subject of the claim ceases, and
(b)the claimant’s day of knowledge.
(2)“The claimant’s day of knowledge” is the day on which the claimant first knows or could reasonably be expected to know—
(a)of the infringer’s behaviour,
(b)that the behaviour constitutes an infringement of competition law,
(c)that the claimant has suffered loss or damage arising from that infringement, and
(d)the identity of the infringer.
(3)Where the claimant has acquired the right to make the competition claim from another person (whether by operation of law or otherwise) —
(a)the reference in sub-paragraph (2) to the day on which the claimant first knows or could reasonably be expected to know something is to be read as a reference to the first day on which either the claimant or a person in whom the cause of action was previously vested first knows or could reasonably be expected to know it, and
(b)the reference to the claimant in sub-paragraph (2)(c) is to be read as a reference to the injured person.
(4)In sub-paragraph (3), “injured person”, in relation to a competition claim, means a person who suffered the loss or damage that is the subject of the claim.
(5)Where a person (“P”) has acquired an infringer’s liability in respect of an infringement of competition law from another person (whether by operation of law or otherwise)—
(a)the reference to an infringer in sub-paragraph (1) is to be read as a reference to P, but
(b)the references to the infringer in sub-paragraph (2) are to be read as references to the original infringer.
(6)The references in sub-paragraphs (2) and (3) to a person knowing something are to a person having sufficient knowledge of it to bring competition proceedings.
(7)This paragraph has effect subject to the provision in paragraphs 20 to 25, which defers the beginning of the limitation or prescriptive period in certain circumstances.]
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