(1) Subsection (2) applies if the European Commission has by a decision referred the whole or part of a case to the CMA under Article 4(4) or 9 of the EC Merger Regulation, or is deemed to have taken such a decision, unless an intervention notice is in force in relation to that case.
(2) Before the end of the preliminary assessment period, the CMA shall –
(a) decide whether to make a reference under section 22 or 33; and
(b) inform the persons carrying on the enterprises concerned by notice of that decision and of the reasons for it.
(3) The CMA may, for the purposes of subsection (2), decide not to make a reference on the basis that it is considering whether to seek or accept undertakings under section 73 instead of making a reference; but a decision taken on that basis does not prevent the CMA from making a reference under section 22 or 33 in the event of no such undertakings being offered or accepted.
(4) In this section–