Paragraph 2 I1

Section 23 (relevant merger situations) is amended as follows.

For subsections (1) and (2) substitute—

“(1)

For the purposes of this Part, a relevant merger situation has been created if—

(a)

two or more enterprises have ceased to be distinct enterprises at a time or in circumstances falling within section 24; and

(b)

the value of the turnover in the United Kingdom of the enterprise being taken over exceeds £70 million.

(2)

For the purposes of this Part, a relevant merger situation has also been created if—

(a)

two or more enterprises have ceased to be distinct enterprises at a time or in circumstances falling within section 24; and

(b)

as a result, one or both of the conditions mentioned in subsections (3) and (4) below prevails or prevails to a greater extent.”

Omit subsections (2A), (4A) and (4B).

In subsection (5), for “(3), (4), (4A) or (4B)” substitute “ (3) or (4) ”.

In subsection (6), for “(3), (4), (4A) and (4B)” substitute “ (3) and (4) ”.

Omit subsection (10).