Change 1 Article Choose an article Title and introductory text 1 2 The Director General of Fair Trading 3 Annual plan 4 Annual and other reports 5 Acquisition of information etc. 6 Provision of information etc. to the public 7 Provision of information and advice to Ministers etc. 8 Promoting good consumer practice 8A Exclusion of public consumer advice scheme 9 Repeal of certain powers of direction 10 Part 2 of the 1973 Act 11 Super-complaints to OFT 12 The Competition Appeal Tribunal 13 The Competition Service 14 Constitution of Tribunal for particular proceedings and its decisions 15 Tribunal rules 16 Transfers of certain proceedings to and from Tribunal 17 Third party appeals 18 Monetary claims 19 Claims on behalf of consumers 20 Findings of infringements 21 Amendment of 1998 Act relating to the Tribunal 22 Duty to make references in relation to completed mergers 23 Relevant merger situations 23A Relevant enterprises 24 Time-limits and prior notice 25 Extension of time-limits 26 Enterprises ceasing to be distinct enterprises 27 Time when enterprises cease to be distinct 28 Turnover test 29 Obtaining control by stages 30 Relevant customer benefits 31 Information powers in relation to completed mergers 32 Supplementary provision for purposes of section 25 33 Duty to make references in relation to anticipated mergers 34 Supplementary provision in relation to anticipated mergers 34ZA Time-limits for decisions about references 34ZB Extension of time-limits 34ZC Sections 34ZA and 34ZB: supplementary 34ZD Fast-track reference requests 34ZE Fast-track reference requests: procedure 34ZF Acceptance by the CMA of fast-track reference requests 34A Duty of CMA where case referred by the European Commission 34B Power to request information in referred cases 34C Functions to be exercised by CMA groups 35 Questions to be decided in relation to completed mergers 36 Questions to be decided in relation to anticipated mergers 37 Cancellation and variation of references under section 22 or 33 38 Investigations and reports on references under section 22 or 33 39 Time-limits for investigations and reports 40 Section 39: supplementary 41 Duty to remedy effects of completed or anticipated mergers 41A Time-limit for discharging duty under section 41 41B Section 41A: supplementary 42 Intervention by Secretary of State in certain public interest cases 43 Intervention notices under section 42 44 Investigation and report by CMA 44A Additional investigation and report by OFCOM: media mergers 45 Power of Secretary of State to refer matter to CMA 46 References under section 45: supplementary 46A Cases referred by the European Commission where intervention notice is in force 46B Extension of preliminary assessment period 46C Power to request information in referred cases 46D Functions to be exercised by CMA groups 47 Questions to be decided on references under section 45 48 Cases where references or certain questions need not be decided 49 Variation of references under section 45 50 Investigations and reports on references under section 45 51 Time-limits for investigations and reports by CMA 52 Section 51: supplementary 53 Restrictions on action where public interest considerations not finalised 54 Decision of Secretary of State in public interest cases 55 Enforcement action by Secretary of State 56 Competition cases where intervention on public interest grounds ceases 57 Duties of CMA and OFCOM to inform Secretary of State 58 Specified considerations 58A Construction of consideration specified in section 58(2C) 59 Intervention by Secretary of State in special public interest cases 59A Construction of conditions in section 59(3C) and (3D) 60 Special intervention notices under section 59 61 Initial investigation and report by CMA 61A Additional investigation and report by OFCOM: certain media mergers 62 Power of Secretary of State to refer the matter 62A Functions to be exercised by CMA groups 63 Questions to be decided on references under section 62 64 Cancellation and variation of references under section 62 65 Investigations and reports on references under section 62 66 Decision and enforcement action by Secretary of State 67 Intervention to protect legitimate interests 68 Scheme for protecting legitimate interests 68A Relevant merger situations involving energy network mergers 68B Further duty to make references in relation to completed mergers 68C Further duty to make references in relation to anticipated mergers 68D Opinion of the Gas and Electricity Markets Authority 68E Combined references 68F Modification of this Part 69 Newspaper mergers 70 Water mergers 70A Intervention by the Secretary of State 70B Investigation and report by the CMA 70C Intervention to prevent foreign control of a newspaper enterprise 70D Other powers under this Part 70E Meaning of “foreign power” 70F Other interpretation 70G Regulations 71 Initial undertakings: completed mergers 72 Initial enforcement orders: completed or anticipated mergers 73 Undertakings in lieu of references under section 22(1), 33(1), 68B or 68C 73A Time-limits for consideration of undertakings 73B Section 73A: supplementary 74 Effect of undertakings under section 73 75 Order-making power where undertakings under section 73 not fulfilled etc. 76 Supplementary interim order-making power 77 Restrictions on certain dealings: completed mergers 78 Restrictions on certain share dealings: anticipated mergers 79 Sections 77 and 78: further interpretation provisions 80 Interim undertakings 81 Interim orders 82 Final undertakings 83 Order-making power where final undertakings not fulfilled 84 Final orders 85 Enforcement regime for public interest and special public interest cases 86 Enforcement orders: general provisions 87 Delegated power of directions 88 Contents of certain enforcement orders 89 Acceptance and subject-matter of undertakings 90 Procedural requirements for certain undertakings and orders 91 Register of undertakings and orders 92 Duty of CMA to monitor undertakings and orders 93 Further role of CMA in relation to undertakings and orders 94 Rights to enforce undertakings and orders 94A Interim undertakings and orders under this Part: penalties 94AA Enforcement of undertakings and orders: imposition of penalties 94AB Penalties under section 94AA: amount 94B Statement of policy in relation to functions under sections 94 and 94AA 95 Rights to enforce statutory restrictions 95A Transferred EU merger commitments 95B Power of directions in connection with transferred EU merger commitments 96 Merger notices 97 Period for considering merger notices 98 Section 97: supplementary 99 Certain functions of CMA in relation to merger notices 100 Exceptions to protection given by merger notices 101 Merger notices: regulations 102 Power to modify sections 97 to 101 103 Duty of expedition in relation to references under section 45 or 62 104 Certain duties of relevant authorities to consult 104A Public consultation in relation to media mergers 105 General information duties of CMA 106 Advice and information about references under section 22, 33, 68B or 68C 106A Advice and information in relation to media mergers 106B General advisory functions of OFCOM 107 Further publicity requirements 108 Defamation 109 Attendance of witnesses and production of documents etc. 109A Transferred EU merger commitments: witnesses, documents etc 109B Extra-territorial application of notices under section 109 110 Enforcement of powers under section 109: imposition of penalties 110A Restriction on powers to impose penalties under section 110 110B Section 110A: supplementary provision 111 Penalties : amount 112 Penalties: main procedural requirements 113 Payments and interest by instalments 114 Appeals in relation to penalties 115 Recovery of penalties 116 Statement of policy 116A Intentional destruction etc of documents 117 False or misleading information 118 Excisions from reports 119 Minority reports of CMA 119A Other general functions of OFCOM in relation to this Part 119B Monitoring role for CMA in relation to media mergers 120 Review of decisions under Part 3 121 Fees 122 Primacy of EU law 123 Power to alter conditions for a relevant merger situation 124 Orders and regulations under Part 3 125 Offences by bodies corporate 126 Service of documents by the CMA, OFCOM or the Secretary of State 127 Associated persons 128 Supply of services and market for services etc. 129 Other interpretation provisions 130 Index of defined expressions 130A Duty to publish market study notice 131 Power of CMA to make references 131A Decisions about references under section 131: consultation 131B Market studies and the making of decisions to refer: time-limits etc 131C Time-limits under section 131B: supplementary 132 Ministerial power to make references 133 Contents of references 133A Functions to be exercised by CMA groups 134 Questions to be decided on market investigation references 135 Variation of market investigation references 136 Investigations and reports on market investigation references 137 Time-limits for market investigations and reports 138 Duty to remedy adverse effects 138A Time-limits for discharging duty under section 138 138B Section 138A: supplementary 139 Public interest intervention by Secretary of State 140 Intervention notices under section 139(1) 140A Section 139(1) intervention notices: Secretary of State's duty to refer 140B Variation of restricted PI references and full PI references 141 Restricted PI references: questions to be decided by CMA 141A Full PI references: questions to be decided by CMA 141B Full PI references: power of Secretary of State to appoint expert 142 Investigations and reports by CMA 143 Restricted PI references: publication 143A Full PI references: publication etc of reports of CMA 144 Time-limits for investigations and reports: Part 4 145 Restrictions where public interest considerations not finalised: Part 4 146 Restricted PI references: decision of Secretary of State 146A Full PI references: decision of Secretary of State 147 Restricted PI references: remedial action by Secretary of State 147A Full PI references: remedial action by Secretary of State 148 Restricted PI references: reversion of the matter to CMA 148A Full PI references: reversion of the matter to CMA 149 Intervention notices under section 139(2) 150 Power of veto of Secretary of State 151 Public interest intervention cases: interaction with general procedure 152 Certain duties of CMA 153 Specified considerations: Part 4 154 Undertakings in lieu of market investigation references 154A Undertakings fully or partially in lieu of references or reports 155 Undertakings in lieu: procedural requirements 156 Effect of undertakings in lieu 157 Interim undertakings: Part 4 158 Interim orders: Part 4 159 Final undertakings: Part 4 160 Order-making power where final undertakings not fulfilled: Part 4 161 Final orders: Part 4 161A Acceptance of enforcement undertakings: Part 4 161B Implementation trials: purpose and interpretation 161C Power to conduct implementation trials 161D Implementation trials: notices 161E Implementation trials: supplementary 162 Duty of CMA to monitor the carrying out of undertakings and orders: Part 4 162A Duty of CMA to monitor effectiveness of undertakings and orders: Part 4 162B Power to vary etc undertakings and orders: implementation trials 163 Role of CMA in relation to undertakings and orders in public interest cases: Part 4 164 Enforcement undertakings and orders under this Part: general provisions 165 Procedural requirements for certain undertakings and orders: Part 4 166 Register of undertakings and orders: Part 4 167 Rights to enforce undertakings and orders under this Part 167A Enforcement of undertakings and orders etc: imposition of penalties 167B Penalties under section 167A: amount 167C Statement of policy in relation to functions under sections 167 and 167A 168 Regulated markets 169 Certain duties of relevant authorities to consult: Part 4 170 General information duties 171 Advice and information: Part 4 172 Further publicity requirements: Part 4 173 Defamation: Part 4 174 Attendance of witnesses and production of documents etc. 174ZA Extra-territorial application of notices under section 174 174A Enforcement of powers under section 174: imposition of penalties 174B Restriction on powers to impose penalties under section 174A 174C Section 174B: supplementary provision 174D Penalties : amount 174E Statement of policy on penalties 175 Enforcement of powers under section 174: offences 176 Investigation powers of the Commission 177 Excisions from reports etc: Part 4 178 Minority reports of CMA: Part 4 179 Review of decisions under Part 4 180 Offences 181 Orders and regulations under Part 4 182 Service of documents: Part 4 183 Interpretation: Part 4 184 Index of defined expressions: Part 4 186 Annual report of Commission 188 Cartel offence 188A Circumstances in which cartel offence not committed 188B Defences to commission of cartel offence 189 Cartel offence: supplementary 190 Cartel offence: penalty and prosecution 190A Cartel offence: prosecution guidance 191 Extradition 192 Investigation of offences under section 188 193 Powers when conducting an investigation 195 Exercise of powers by authorised person 196 Privileged information etc. 197 Restriction on use of statements in court 198 Use of statements obtained under Competition Act 1998 199 Surveillance powers 200 Authorisation of action in respect of property 201 Offences 202 Interpretation of sections 192 to 201 203 Powers of entry 204 Disqualification 205 Super-complaints to regulators other than CMA 206 Power to modify Schedule 8 207 Repeal of Schedule 4 to the 1998 Act 208 Repeal of Part 6 of Fair Trading Act 1973 209 Reform of EU competition law 237 General restriction 238 Information 239 Consent 240 EU obligations 241 Statutory functions 241A Civil proceedings 242 Criminal proceedings 243 Overseas disclosures 243A Overseas disclosures for both overseas and domestic purposes 243B Overseas disclosures for overseas purposes only 243C Overseas disclosures for designated cooperation arrangement purposes 243D Use and further disclosure of information disclosed under sections 243A and 243B 243E Directions by the Secretary of State relating to overseas disclosures under sections 243A and 243B 243F Relevant considerations relating to overseas disclosures under sections 243A and 243B 244 Specified information: considerations relevant to disclosure 245 Offences 246 Subordinate legislation 246A Interpretation 247 Repeals 248 Replacement of Part II of Insolvency Act 1986 249 Special administration regimes 250 Prohibition of appointment of administrative receiver 251 Abolition of Crown preference 252 Unsecured creditors 253 Liquidator’s powers 254 Application of insolvency law to foreign company 255 Application of law about company arrangement or administration to non-company 256 Duration of bankruptcy 257 Post-discharge restrictions 258 Investigation by official receiver 259 Income payments order 260 Income payments agreement 261 Bankrupt’s home 262 Powers of trustee in bankruptcy 263 Repeal of certain bankruptcy offences 264 Individual voluntary arrangement 265 Disqualification from office: justice of the peace 266 Disqualification from office: Parliament 267 Disqualification from office: local government 268 Disqualification from office: general 269 Minor and consequential amendments 270 Fees 271 Insolvency Services Account: interest 272 Insolvency Services Accounts 273 Interpretation 274 Provision of financial assistance for consumer purposes 275 Financial provision 276 Transitional or transitory provision and savings 277 Power to make consequential amendments etc. 278 Minor and consequential amendments and repeals 279 Commencement 280 Extent 281 Short title SCHEDULE 2 The Competition Appeal Tribunal SCHEDULE 3 The Competition Service SCHEDULE 4 Tribunal: procedure SCHEDULE 5 Proceedings under Part 1 of the 1998 Act SCHEDULE 5A Energy network mergers affecting comparative regulation: modification of Chapter 1 of Part 3 SCHEDULE 6 Schedule to be inserted in the Water Industry Act 1991 Schedule 6A Determination of when a foreign state newspaper merger situation has been created Schedule 6B Control or influence of a person by a foreign power SCHEDULE 7 Enforcement regime for public interest and special public interest cases SCHEDULE 8 Provision that may be contained in certain enforcement orders SCHEDULE 9 Certain amendments of sectoral enactments SCHEDULE 10 Procedural requirements for certain enforcement undertakings and orders SCHEDULE 14 Specified functions SCHEDULE 15 Enactments conferring functions SCHEDULE 16 Schedule B1 to Insolvency Act 1986 SCHEDULE 17 Administration: minor and consequential amendments SCHEDULE 18 Schedule 2A to Insolvency Act 1986 SCHEDULE 19 Duration of bankruptcy: transitional provisions SCHEDULE 20 Schedule 4A to Insolvency Act 1986 SCHEDULE 21 Effect of bankruptcy restrictions order and undertaking SCHEDULE 22 Individual voluntary arrangement SCHEDULE 23 Individual insolvency: minor and consequential amendments SCHEDULE 24 Transitional and transitory provisions and savings SCHEDULE 25 Minor and consequential amendments SCHEDULE 26 Repeals and revocations
What to do with it
As published
29 Obtaining control by stages
(1) Where an enterprise is brought under the control of a person or group of persons in the course of two or more transactions (in this section a “series of transactions”) to which subsection (2) applies, those transactions may, if the decision-making authority considers it appropriate, be treated for the purposes of a reference as having occurred simultaneously on the date on which the latest of them occurred.
(2) This subsection applies to—
(a) any transaction which—
(i) enables that person or group of persons directly or indirectly to control or materially to influence the policy of any person carrying on the enterprise;
(ii) enables that person or group of persons to do so to a greater degree; or
(iii) is a step (whether direct or indirect) towards enabling that person or group of persons to do so; and
(b) any transaction by virtue of which that person or group of persons acquires a controlling interest in the enterprise or, where the enterprise is carried on by a body corporate, in that body corporate.
(3) Where a series of transactions includes a transaction falling within subsection (2)(b), any transaction occurring after the occurrence of that transaction is to be disregarded for the purposes of subsection (1).
(4) Where the period within which a series of transactions occurs exceeds two years, the transactions that may be treated as mentioned in subsection (1) are any of those transactions that occur within a period of two years.
(5) Sections 26(2) to (4) and 127(1), (2) and (4) to (6) shall apply for the purposes of this section to determine—
(a) whether an enterprise is brought under the control of a person or group of persons; and
(b) whether a transaction is one to which subsection (2) applies;
as they apply for the purposes of section 26 to determine whether enterprises are brought under common control.
(6) In determining for the purposes of this section the time at which any transaction occurs, no account shall be taken of any option or other conditional right until the option is exercised or the condition is satisfied.
Your wording
Your change, as a redline
29 Obtaining control by stages
(1) Where an enterprise is brought under the control of a person or group of persons in the course of two or more transactions (in this section a “series of transactions”) to which subsection (2) applies, those transactions may, if the decision-making authority considers it appropriate, be treated for the purposes of a reference as having occurred simultaneously on the date on which the latest of them occurred.
(2) This subsection applies to—
(a) any transaction which—
(i) enables that person or group of persons directly or indirectly to control or materially to influence the policy of any person carrying on the enterprise;
(ii) enables that person or group of persons to do so to a greater degree; or
(iii) is a step (whether direct or indirect) towards enabling that person or group of persons to do so; and
(b) any transaction by virtue of which that person or group of persons acquires a controlling interest in the enterprise or, where the enterprise is carried on by a body corporate, in that body corporate.
(3) Where a series of transactions includes a transaction falling within subsection (2)(b), any transaction occurring after the occurrence of that transaction is to be disregarded for the purposes of subsection (1).
(4) Where the period within which a series of transactions occurs exceeds two years, the transactions that may be treated as mentioned in subsection (1) are any of those transactions that occur within a period of two years.
(5) Sections 26(2) to (4) and 127(1), (2) and (4) to (6) shall apply for the purposes of this section to determine—
(a) whether an enterprise is brought under the control of a person or group of persons; and
(b) whether a transaction is one to which subsection (2) applies;
as they apply for the purposes of section 26 to determine whether enterprises are brought under common control.
(6) In determining for the purposes of this section the time at which any transaction occurs, no account shall be taken of any option or other conditional right until the option is exercised or the condition is satisfied.
A proposal here is not law. Support on Solon is evidence that people want the change; the official route says what it takes to make it law.