(10) In subsection (9), “specified period” means—
- (a) the period of 12 months from the date on which control of the other undertaking was acquired; or
- (b) if in a particular case the undertaking shows that it is not reasonably possible to effect the disposal concerned within the period referred to in paragraph (a), within such longer period as the Commission determines and specifies with respect to that case.
Excluded mergers
55. The section 54 prohibition shall not apply to any merger specified in the Fourth Schedule.
Requests for Commission to consider merger
56.—(1) Sections 57 and 58 provide for a merger to be considered by the Commission on the application of a party to that merger who thinks the merger may infringe the section 54 prohibition.
(2) The Minister may by regulations provide for the procedure to be followed—
- (a) by any party making an application; and
- (b) by the Commission, in considering such an application.
Notification for guidance
57.—(1) A party to a merger which applies for the merger to be considered under this section shall—
- (a) notify the Commission of the merger; and
- (b) apply to it for guidance.
(2) On an application under this section, the Commission may give the applicant guidance as to whether or not, in its view, the merger is likely to infringe the section 54 prohibition.
Notification for decision
58.—(1) A party to a merger which applies for the merger to be considered under this section shall—
- (a) notify the Commission of the merger; and
