Paragraph 12

In section 303 of the Act^f1 (initial report by OFT), after subsection (5) insert—

“(6)

In the case of an application for recognition under section 287, the OFT must issue its report under subsection (3) before the end of the period of 12 weeks beginning with the date on which it receives the copy sent to it under subsection (1).

(7)

Subsection (6) does not apply if the application is made by an overseas investment exchange.”.