competition reference period
- competition reference period
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United Kingdom
A phrase used in the Takeover Code to describe the period from the announcement of a referral of a takeover offer to the Competition Commission or of the initiation of proceedings by the European Commission under Article 6(1)(c) of Council Regulation 139/2004/EC, until the announcement of clearance (including clearance subject to conditions) or prohibition by the Competition Commission or the Secretary of State, as appropriate; or the issuance of a decision under Article 8(1), Article 8(2) or Article 8(3) of the said Council Regulation; or the expiry of the time limits set out in Article 10(3) of the said Council Regulation with no decision having been issued by the European Commission and the offer being deemed compatible with the common market under Article 10(6).
Practical Law Dictionary. Glossary of UK, US and international legal terms.
www.practicallaw.com.
2010.
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