- (c) it gives notice in writing to the party on whose application the guidance was given that it is removing the immunity as from the date specified in its notice.
(5) If the Commission has reasonable grounds for suspecting that information—
- (a) on which it based its guidance; and
- (b) which was provided to it by a party to the agreement,
was incomplete, false or misleading in a material particular, the date specified in a notice under subsection (4)(c) may be earlier than the date on which the notice is given.
Effect of decision that section 34 prohibition has not been infringed
46.—(1) This section shall apply to an agreement if the Commission has determined an application under section 44 by making a decision that the agreement has not infringed the section 34 prohibition.
(2) The Commission shall take no further action under this Part with respect to the agreement unless—
- (a) it has reasonable grounds for believing that there has been a material change of circumstance since it gave its decision; or
- (b) it has reasonable grounds for suspecting that the information on which it based its decision was incomplete, false or misleading in a material particular.
(3) No penalty may be imposed under this Part in respect of any infringement of the section 34 prohibition by an agreement to which this section applies.
(4) The Commission may remove the immunity given by subsection (3) if—
- (a) it takes action under this Part with respect to the agreement in one of the circumstances mentioned in subsection (2);
- (b) it considers that it is likely that the agreement will infringe the section 34 prohibition; and
- (c) it gives notice in writing to the party on whose application the decision was made that it is removing the immunity as from the date specified in its notice.
