UK Law and Practice Contributed by: Becket McGrath and Marc Freedman, Van Bael & Bellis
its decision on its website, which triggers a public consultation process. • Third parties will have the opportunity to submit their views to the CMA during the public consulta - tion period, which lasts at least 15 calendar days. If the UILs are modified in a material way, then a second consultation of at least seven calendar days is required. • Taking account of third-party comments, a full assessment of the offered UILs will be undertaken by the CMA, which will decide whether to accept the UILs within 50 working days of the SLC deci - sion. An extension of up to 40 working days is available if the CMA considers that there are spe - cial reasons for granting this. Whilst this is accurate at the time of writing, it should be noted that – as part of a wider package of pro - posed refinements to the UK competition regime – in January 2026, the UK government announced plans (which are subject to an ongoing consultation pro - cess) under which the initial Phase I merger remedies timeframes would be extendable from up to ten to up to 20 working days following an SLC decision (though the starting point would still be for parties to put for - ward their proposals within five working days, unless otherwise agreed), with the possibility for deadlines to be extended by the CMA by up to five working days. Process for proposing remedies at Phase II As a general matter, the CMA’s updated procedural guidance codifies – at various points – the CMA’s position that it encourages early “without prejudice” discussions/proposals on remedies at Phase II. More specifically, in its updated guidance documents, the CMA now envisages enhanced opportunities for the merging parties to propose draft submissions and hold early discussions with the inquiry group – and, crucially, obtain feedback – ahead of the publication of the interim report (eg, on the basis of a draft Phase II Remedies Form). Notwithstanding earlier opportunities to engage on remedies, where the inquiry group identifies an SLC in its interim report, it will consider potential remedies it deems appropriate to address the SLC and will con - sult with the merging parties, as well as third parties, on any proposed remedies.
• In order to propose possible remedies for the inquiry group’s consideration, merging parties should submit a Phase II Remedies Form (or an updated version if a draft Phase II Remedies Form has already been submitted) as soon as practi - cable, but usually no more than 14 calendar days from the notification of the interim report. Merg - ing parties should confirm to the CMA case team whether they intend to submit a completed Phase II Remedies Form as soon as possible after they are notified of the CMA’s interim report – and, in any case, within three working days of publication of the CMA’s interim report. The level of detailed information required by the CMA in the Phase II Remedies Form will vary according to the type and structure of remedy/remedies proposed. • Following submission of the Phase II Remedies Form by the merger parties, the CMA will publish an Invitation to Comment on Remedies, which will set out any remedy proposals provided by the merging parties in the Phase II Remedies Form (based on the non-confidential summary of the proposal), and which thus serves as a basis for consultation with the merging parties and other parties (including customers, competitors and any relevant sectoral regulator). Where merging parties do not submit a Phase II Remedies Form, the CMA will issue an Invitation to Comment on Remedies based on the information available to the CMA at that time. • Following the merging parties’ submission of the Phase II Remedies Form, and prior to the Interim Report on Remedies, the CMA will continue to assess remedies, by gathering further evidence and consulting with the merger parties and third parties (eg, on the basis of remedy calls/meetings). • Once the CMA has consulted as required, it will issue an Interim Report on Remedies (which has replaced the remedies working paper) to the merg - ing parties, setting out its provisional decision on remedies based on the inquiry group’s assess - ment of the different options. The merging parties will typically have at least seven calendar days to respond to this report. Where the Interim Report on Remedies indicates that the inquiry group provi - sionally considers that any remedies proposed by the merger parties would not be practicable or effective, the merger parties may wish to amend
714 CHAMBERS.COM
Powered by FlippingBook