31 Interim measures: financial penalties: mergers
Enterprise and Regulatory Reform Act 2013 (2013 c 24) | Legislation

31  Interim measures: financial penalties: mergers

(1)     After section 94 of the 2002 Act (rights to enforce undertakings and orders under Part 3) insert—

“94A Interim undertakings and orders under this Part: penalties

(1)     Where the appropriate authority considers that a person has, without reasonable excuse, failed to comply with an interim measure, it may impose a penalty of such fixed amount as it considers appropriate.

(2)     A penalty imposed under subsection (1) shall not exceed 5% of the total value of the turnover (both in and outside the United Kingdom) of the enterprises owned or controlled by the person on whom it is imposed.

(3)     For the purposes of subsection (2), the Secretary of State may by order make provision for determining—

(a)     when an enterprise is to be treated as controlled by a person; and

(b)     the turnover

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