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Change 1
As published
37 Interim measures: pre-emptive action: markets
(1) Part 4 of the 2002 Act (market investigations) is amended as follows.
(2) In section 157 (interim undertakings: Part 4), after subsection (2) insert—
(2A) Subsection (2B) applies where—
(a) subsection (1)(a) to (c) applies; and
(b) the relevant authority has reasonable grounds for suspecting that pre-emptive action has or may have been taken.
(2B) The relevant authority may, for the purpose of restoring the position to what it would have been had the pre-emptive action not been taken or otherwise for the purpose of mitigating its effects, accept, from such persons as the relevant authority considers appropriate, undertakings to take such action as the relevant authority considers appropriate.
(3) After subsection (2B) of that section insert—
(2C) A person may, with the consent of the relevant authority, take action of a particular description where the action would otherwise constitute a contravention of an undertaking accepted under this section.
(4) In section 158 (interim orders: Part 4), after subsection (2) insert—
(2A) Subsection (2B) applies where—
(a) subsection (1)(a) to (c) applies; and
(b) the relevant authority has reasonable grounds for suspecting that pre-emptive action has or may have been taken.
(2B) The relevant authority may by order, for the purpose of restoring the position to what it would have been had the pre-emptive action not been taken or otherwise for the purpose of mitigating its effects—
(a) do anything mentioned in subsection (2)(b) to (d);
(b) impose such other obligations, prohibitions or restrictions as it considers appropriate for that purpose.
(5) After subsection (2B) of that section insert—
(2C) A person may, with the consent of the relevant authority, take action of a particular description where the action would otherwise constitute a contravention of an order under this section.
Your change, as a redline
37 Interim measures: pre-emptive action: markets
(1) Part 4 of the 2002 Act (market investigations) is amended as follows.
(2) In section 157 (interim undertakings: Part 4), after subsection (2) insert—
(2A) Subsection (2B) applies where—
(a) subsection (1)(a) to (c) applies; and
(b) the relevant authority has reasonable grounds for suspecting that pre-emptive action has or may have been taken.
(2B) The relevant authority may, for the purpose of restoring the position to what it would have been had the pre-emptive action not been taken or otherwise for the purpose of mitigating its effects, accept, from such persons as the relevant authority considers appropriate, undertakings to take such action as the relevant authority considers appropriate.
(3) After subsection (2B) of that section insert—
(2C) A person may, with the consent of the relevant authority, take action of a particular description where the action would otherwise constitute a contravention of an undertaking accepted under this section.
(4) In section 158 (interim orders: Part 4), after subsection (2) insert—
(2A) Subsection (2B) applies where—
(a) subsection (1)(a) to (c) applies; and
(b) the relevant authority has reasonable grounds for suspecting that pre-emptive action has or may have been taken.
(2B) The relevant authority may by order, for the purpose of restoring the position to what it would have been had the pre-emptive action not been taken or otherwise for the purpose of mitigating its effects—
(a) do anything mentioned in subsection (2)(b) to (d);
(b) impose such other obligations, prohibitions or restrictions as it considers appropriate for that purpose.
(5) After subsection (2B) of that section insert—
(2C) A person may, with the consent of the relevant authority, take action of a particular description where the action would otherwise constitute a contravention of an order under this section.
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