SCHEDULES
SCHEDULE 2Minor and consequential amendments and revocations
I12
1
Section 23 (relevant merger situations) is amended as follows.
2
For subsections (1) and (2) substitute—
1
For the purposes of this Part, a relevant merger situation has been created if—
a
two or more enterprises have ceased to be distinct enterprises at a time or in circumstances falling within section 24; and
b
the value of the turnover in the United Kingdom of the enterprise being taken over exceeds £70 million.
2
For the purposes of this Part, a relevant merger situation has also been created if—
a
two or more enterprises have ceased to be distinct enterprises at a time or in circumstances falling within section 24; and
b
as a result, one or both of the conditions mentioned in subsections (3) and (4) below prevails or prevails to a greater extent.
3
Omit subsections (2A), (4A) and (4B).
4
In subsection (5), for “(3), (4), (4A) or (4B)” substitute “
(3) or (4)
”
.
5
In subsection (6), for “(3), (4), (4A) and (4B)” substitute “
(3) and (4)
”
.
6
Omit subsection (10).