Competition and Consumer Act 2010

A notification of an acquisition becomes stale immediately after the end of the relevant period (see subsections (2) and (3)), assuming there is such a period.

Unless subsection (3) applies, the relevant period is the 12‑month period starting at the time (if any) at which the Commission:

unless paragraph (b) of this section applies—makes a determination under paragraph 51ABZE(1)(a) in respect of the notification; or

if the Commission makes a determination under paragraph 51ABZW(1)(a) in respect of a public benefit application that relates to the notification—makes that determination.

The Commission may, on written request, decide to extend by up to a further 6 months the relevant period applying under subsection (2), or under an earlier application of this subsection, if the Commission has had regard to the following:

whether there are reasonable reasons why the acquisition has not been put into effect;

whether there have been material changes to the market since the determination described in subsection (2) was made;

whether it would be more appropriate for there to be another notification of the acquisition.

Any conditions included in a determination under paragraph 51ABZE(1)(a) or 51ABZW(1)(a) continue to apply during the extended period.

A request for an extension under subsection (3) may be made by the notifying party of the notification. The Commission must give written notice to that party of the Commission’s decision whether or not to grant the extension.