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The Merger References (Increase in Value of Assets) Order 1994
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Statutory Instruments
1994 No. 72
MONOPOLIES AND MERGERS
The Merger References (Increase in Value of Assets) Order 1994
Made
11th January 1994
Laid before Parliament
19th January 1994
Coming into Operation
9th February 1994
The Secretary of State in exercise of his powers under section 64(7) of the Fair Trading Act 1973(1) hereby makes the following Order:
1. This Order may be cited as the Merger References (Increase in Value of Assets) Order 1994 and shall come into operation on 9th February 1994.
2. In section 64(1) of the Fair Trading Act 1973 (circumstances in which a merger reference may be made), in paragraph (b) (value of assets taken over), for the sum of £30 million, there is hereby substituted the sum of £70 million:
Provided that this variation shall not have effect in relation to any merger reference which was made to the Monopolies and Mergers Commission before the coming into operation of this Order.
Neil Hamilton
Parliamentary Under Secretary of State
Department of Trade and Industry
11th January 1994
Explanatory Note
(This note is not part of the Order)
This Order increases from £30 million to £70 million the sum specified in section 64(1)(b) of the Fair Trading Act 1973. The Secretary of State may refer a merger to the Monopolies and Mergers Commission where, among other things, the value of the assets taken over exceeds the sum specified. The sum was previously increased, from £15 million, by the Merger References (Increase in Value of Assets) Order 1984 (S. I.1984/932).
(1)
1973 c. 41; section 64(1) was previously amended by the Merger References (Increase in Value of Assets) Order 1984 (S.I.1984/932).
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