47 Questions to be decided on references under section 45

47  Questions to be decided on references under section 45

(1)     The [CMA] shall, on a reference under section 45(2) or (3), decide whether a relevant merger situation has been created.

(2)     If the [CMA] decides that such a situation has been created, it shall, on a reference under section 45(2), decide the following additional questions—

(a)     whether the creation of that situation has resulted, or may be expected to result, in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services; and

(b)     whether, taking account only of any substantial lessening of competition and the admissible public interest consideration or considerations concerned, the creation of that situation operates or may be expected to operate against the public interest.

(3)     If the [CMA] decides that a relevant merger situation has been created, it shall, on a reference under section 45(3), decide whether, taking account only of the admissible public interest consideration or considerations concerned, the creation of that situation operates or may be expected to operate against the public interest.

(4)     The [CMA] shall, on a reference under section 45(4) or (5), decide whether arrangements are in progress or in contemplation which,

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