Section 135(4)

After subsection (7) insert— Where the CMA— the CMA may subsequently make a reference under section 131 in relation to the matter (without first publishing a market study notice in relation to the matter) only where subsection (9) applies. has published a market study notice, and has decided not to make a reference under section 131 in relation to the matter specified in the notice, This subsection applies where— the reference under section 131 is made two years or more after the publication of the market study report in relation to the market study notice, or there has been a material change in circumstances since the preparation of the report.

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Source: legislation.gov.uk · retrieved 2026-07-30