(1) In section 25 of ERRA 2013 (the Competition and Markets Authority), after subsection (4) insert -

"(5) In making any decision, or otherwise taking action, for the purposes of any of its functions within Schedule 4A the CMA must have regard to the need for making a decision, or taking action, as soon as reasonably practicable."

(2) After Schedule 4 to ERRA 2013 insert -

"Schedule 4A FUNCTIONS TO WHICH THE CMA'S DUTY OF EXPEDITION APPLIES

Section 25

Part 1 INTRODUCTION

1 The following functions are functions within this Schedule for the purposes of section 25(5).

Part 2 COMPETITION FUNCTIONS

Functions under the Enterprise Act 2002

2 Functions under Part 3 of the 2002 Act (mergers) other than functions under -

(a) section 94B (statement of policy about functions under sections 94 and 94AA);

(b) section 106 (advice and information about references under section 22 or 33);

(c) section 116 (statement of policy about penalties).

3 Functions under Part 4 of the 2002 Act (market studies and market investigations) other than functions under -