Chapter 2U.K.Mergers
127Relevant merger situations and special merger situationsU.K.
Schedule 4 makes provision amending the thresholds in Part 3 of EA 2002 (mergers) for the creation of relevant merger situations and special merger situations.
128Fast-track references under sections 22 and 33 of EA 2002U.K.
Schedule 5 makes provision amending Part 3 of EA 2002 (mergers) to include provision about the making of fast-track references under section 22 or 33 of that Act.
129Mergers of energy network enterprisesU.K.
Schedule 6 makes provision amending Part 3 of EA 2002 (mergers) and Schedule 16 to the Energy Act 2023 (mergers of energy network enterprises) in relation to mergers involving energy network enterprises.
130Mergers involving newspaper enterprises and foreign powersU.K.
(1)Schedule 7 makes provision for the purposes of preventing foreign powers from gaining control or influence over newspaper enterprises.
(2)The amendments made by that Schedule—
(a)apply in relation to enterprises ceasing to be distinct on or after the effective date, but not in relation to enterprises ceasing to be distinct before the effective date;
(b)apply in relation to arrangements in progress or in contemplation on or after the effective date which, if carried into effect, would result in the creation of a foreign state newspaper merger situation by virtue of enterprises ceasing to be distinct on or after the effective date.
(3)In subsection (2), “the effective date” means 13 March 2024.
131Mutual agreements to extend time-limits: duty to make reference casesU.K.
(1)Chapter 1 of Part 3 of EA 2002 (mergers: duty to make references) is amended as follows.
(2)In section 39 (time-limits for investigations and reports)—
(a)before subsection (3) insert—
“(2A)Where the CMA and the persons carrying on the enterprises concerned agree—
(a)that the period within which a report under section 38 is to be prepared and published (the “original period”) should be extended, and
(b)the duration of the period by which the original period should be extended (the “extension period”),
the CMA may extend the original period by the extension period.”;
(b)in subsection (7), after “subsection” insert “(2A),”;
(c)after that subsection insert—
“(7A)An extension under subsection (2A) continues in force until—
(a)the end of the extension period, or
(b)an earlier time if, before the end of that period—
(i)the CMA and the persons carrying on the enterprises concerned agree that the extension should be cancelled with effect from the earlier time, and
(ii)the CMA publishes its decision to cancel the extension with effect from that time.”
(3)In section 40 (section 39: supplementary)—
(a)for subsection (3) substitute—
“(3)A period extended under any subsection of section 39 may also be extended under any other subsection of that section.”;
(b)in subsection (5), for “section 39(3)” substitute “section 39(2A), (3)”.
(4)In Chapter 5 of Part 3 (mergers: supplementary), in section 107(2) (further publicity requirements), in paragraph (d), for “section 39(8)(b)” substitute “section 39(7A)(b) or (8)(b)”.
132Mutual agreements to extend time-limits: public interest casesU.K.
(1)Chapter 2 of Part 3 of EA 2002 (mergers: public interest cases) is amended as follows.
(2)In section 51 (time-limits for investigations and reports by CMA)—
(a)before subsection (3) insert—
“(2A)Where —
(a)the CMA and the persons carrying on the enterprises concerned agree—
(i)that the period within which a report under section 50 is to be prepared and published (the “original period”) should be extended, and
(ii)the duration of the period by which the original period should be extended (the “extension period”), and
(b)the Secretary of State consents to the original period being extended by the extension period,
the CMA may extend the original period by the extension period.”;
(b)in subsection (7), after “subsection” insert “(2A),”;
(c)after that subsection insert—
“(7A)An extension under subsection (2A) continues in force until—
(a)the end of the extension period, or
(b)an earlier time if, before the end of that period—
(i)the CMA and the persons carrying on the enterprises concerned agree that the extension should be cancelled with effect from the earlier time,
(ii)the Secretary of State consents to the cancellation of the extension with effect from that time, and
(iii)the CMA publishes its decision to cancel the extension with effect from that time.”
(3)In section 52 (section 51: supplementary)—
(a)for subsection (3) substitute—
“(3)A period extended under any subsection of section 51 may also be extended under any other subsection of that section.”;
(b)in subsection (5), for “section 51(3)” substitute “section 51(2A), (3)”.
(4)In Chapter 5 of Part 3 (mergers: supplementary), in section 107(2)(j), for “section 51(8)(b)” substitute “section 51(7A)(b) or (8)(b)”.
133Publication of merger notices onlineU.K.
In Chapter 5 of Part 3 of EA 2002 (mergers: supplementary), in section 96(5) (merger notices), for “in the London, Edinburgh and Belfast Gazettes” substitute “online”.