77 Restrictions on certain dealings: completed mergersU.K.
(1)Subsections (2) and (3) apply where—
(a)a reference has been made under section 22 but not finally determined; and
(b)no undertakings under section F1... 80 are in force in relation to the relevant merger situation concerned and no orders under section 72 or 81 are in force in relation to that situation.
(2)No relevant person shall, without the consent of the [F2CMA] —
(a)complete any outstanding matters in connection with any arrangements which have resulted in the enterprises concerned ceasing to be distinct enterprises;
(b)make any further arrangements in consequence of that result (other than arrangements which reverse that result); or
(c)transfer the ownership or control of any enterprises to which the reference relates.
(3)No relevant person shall, without the consent of the [F2CMA], assist in any of the activities mentioned in paragraphs (a) to (c) of subsection (2).
(4)The prohibitions in subsections (2) and (3) do not apply in relation to anything which the person concerned is required to do by virtue of any enactment.
(5)The consent of the [F3CMA] under subsection (2) or (3)—
(a)may be general or special;
(b)may be revoked by the [F3CMA]; and
(c)shall be published in such manner as the [F3CMA] considers appropriate for the purpose of bringing it to the attention of any person entitled to the benefit of it.
(6)Paragraph (c) of subsection (5) shall not apply if the [F3CMA] considers that publication is not necessary for the purpose mentioned in that paragraph.
(7)Subsections (2) and (3) shall apply to a person’s conduct outside the United Kingdom if (and only if) he is—
(a)a United Kingdom national;
(b)a body incorporated under the law of the United Kingdom or of any part of the United Kingdom; or
(c)a person carrying on business in the United Kingdom.
(8)In this section “relevant person” means—
(a)any person who carries on any enterprise to which the reference relates or who has control of any such enterprise;
(b)any subsidiary of any person falling within paragraph (a); or
(c)any person associated with any person falling within paragraph (a) or any subsidiary of any person so associated.
Textual Amendments
F1Words in s. 77(1)(b) omitted (1.4.2014) by virtue of Enterprise and Regulatory Reform Act 2013 (c. 24), s. 103(3), Sch. 15 para. 30; S.I. 2014/416, art. 2(1)(f) (with Sch.)
F2Word in s. 77(2)(3) substituted (1.4.2014) by Enterprise and Regulatory Reform Act 2013 (c. 24), s. 103(3), Sch. 5 para. 117 (with s. 28); S.I. 2014/416, art. 2(1)(d) (with Sch.)
F3Word in s. 77(5)(6) substituted (1.4.2014) by Enterprise and Regulatory Reform Act 2013 (c. 24), s. 103(3), Sch. 5 para. 117 (with s. 28); S.I. 2014/416, art. 2(1)(d) (with Sch.)