224.The main provisions of this Chapter:
introduce statutory time limits and information gathering powers for all parts of the merger review process;
introduce a time limited period after the Phase 1 decision where merging parties can offer and negotiate undertakings in lieu (“UILs”) of a referral;
strengthen the voluntary notification regime by giving the CMA the ability to suspend all integration steps in completed and anticipated mergers;
clarify the type and range of measures that the CMA can take at Phase 1 and Phase 2 to prevent pre-emptive action; and
introduce financial penalties for breach of CMA interim measures.