[56D Reports on references]

[56D  Reports on references]

[(1)     In making a report on a reference under section 56C, the [CMA] shall include in the report definite conclusions on whether the fact that the activities specified in the reference (or the reference as varied) are not licensable activities operates, or may be expected to operate, against the public interest.

(2)     The [CMA] shall also include in the report such an account of its reasons for those conclusions as in its opinion is expedient for facilitating proper understanding of the questions raised by the reference and of its conclusions.

(3)     Where the [CMA] concludes that the fact that particular activities are not licensable activities operates, or may be expected to operate, against the public interest, it shall specify in the report—

(a)     the effects adverse to the public interest which that fact has or may be expected to have; and

(b)

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