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COMPETITION ORDINANCE
Ord. No. 14 of 2012
A1363

(3) After the Commission has made its decision, it must inform the applicant in writing of the decision, the date of its decision and the reasons for it.

12. Effect of decision

(1) Subject to subsection (2), if the Commission makes a decision that an agreement is excluded or exempt from the application of the first conduct rule or this Part then each undertaking specified in the decision is immune from any action under this Ordinance with regard to that agreement.

(2) The immunity provided by subsection (1) applies to an undertaking only to the extent of the first conduct rule or this Part, and in so far as that undertaking complies with every condition and limitation subject to which the decision is to have effect.

13. Non-compliance with condition or limitation

(1) If an undertaking fails or ceases to comply with a condition or limitation subject to which a decision has effect, the immunity provided by section 12 ceases to apply with respect to that undertaking with effect from the date on which the non-compliance begins.

(2) If an undertaking starts to comply or resumes compliance with the condition or limitation, the immunity provided by section 12 applies to that undertaking with effect from the date on which the compliance begins or resumes.

(3) Action may be taken under this Ordinance against any undertaking relating to a contravention of the first conduct rule by that undertaking, that occurs during any period in which the immunity provided by section 12 does not apply to it.

14. Rescission of decision

(1) The Commission may rescind a decision made under section 11 if it has reason to believe—

(a) that there has been a material change of circumstances since the decision was made; or
(b) that the information on which it based its decision was incomplete, false or misleading in a material particular.

(2) Before rescinding a decision under this section the Commission must—

(a) in order to bring the proposed rescission to the attention of those undertakings the Commission considers likely to be affected by it, publish notice of the proposed rescission—