Key Facts

• Clause 91 makes destroying or falsifying information a criminal offence.
• Government amendment 34 clarifies that named senior managers and nominated officers cannot be criminally liable for not fulfilling their duties.
• Clause 95 restricts extraterritorial application of certain offences to persons with a UK connection.
• Clause 97 gives power to disqualify directors under the Company Directors Disqualification Act 1986.
• Government amendment 35 clarifies that costs relating to a court order can be made against any person who has breached requirements.
• Government amendment 36 clarifies that a costs order can be made against officers of an SMS firm responsible for non-compliance.
• Clause 98 allows the DMU to apply for a court order if an SMS firm fails to comply with regulatory requirements.
• Clause 99 allows parties to seek redress privately if they suffer harm or loss from breaches by SMS firms.
• Clause 100 sets out that CMA’s final breach decisions are binding on courts and the Competition Appeal Tribunal.
• Clause 101 provides for appeals of DMU decisions to the Competition Appeal Tribunal using judicial review principles.
• Clause 97 is about disqualifying directors who violate conduct requirements.
• Amendments 35 and 36 are made to clarify enforcement provisions in clause 98.
• Clauses 102, 103, 104-109, 110-114, and 115 are ordered to stand part of the Bill.
• New clause 4 would require an annual report by the Secretary of State on the operation of the CMA’s functions under Part 1.
• The MP believes this undermines the CMA's operational independence.
• Current approach: CMA publishes its own reports and accounts.
• Clause 102 allows the CMA to extend deadlines by up to three months under special reasons.
• Clause 103 permits the CMA to extend SMS designations for up to three months.
• Clause 106 lists specific regulators that must be consulted, including the Bank of England and Ofcom.
• MP Philip Hollobone is addressing several clauses and schedules of the Digital Markets, Competition and Consumers Bill.
• Clauses 117 to 121, schedule 3, clauses 122 and 123, and clauses 134 and 135 are under discussion.
• The proposal suggests these clauses should stand part without further amendments or debate at this stage.
• Clauses 116-120 and 135 affect the Competition and Markets Authority (CMA) and sector regulators.
• Clause 116 extends territorial reach of chapter 1 prohibition to agreements implemented outside the UK with immediate, substantial, and foreseeable effects on trade within the UK.
• Clause 117 introduces a new duty for persons who know or suspect an investigation under Competition Act 1998 to preserve documents.
• Clause 118 strengthens CMA's powers to require production of electronic information stored remotely without demonstrating specific relevance initially.
• Clause 116 expands territorial reach of parts of the Competition Act 1998.
• Proposed new section 25B will set out duties for companies during CMA investigations.
• Clause 118 amends sections to allow electronic information production under warrants.
• Clause 120 changes the standard of review on appeals against interim measures directions.
• Schedule 3 gives CAT power to make legally binding statements on law application.
• New acquirer-focused threshold for mergers where acquiring business has UK turnover of more than £350 million and at least 33% share of supply.
• Turnover test level increased from £70 million to £100 million.
• Safe harbour introduced for transactions with all parties having UK turnover no more than £10 million.
• Fast-track procedure allows mergers to be expedited to phase 2 investigation.
• The new acquirer-focused threshold grants CMA jurisdiction if one party has at least 33% UK share supply and £350 million turnover.
• The target turnover threshold is increased from £70 million to £100 million.
• A safe harbour threshold is introduced where no party has more than £10 million of UK turnover despite meeting the 25% share-of-supply test.
• The current timeframe for starting consultations on making a market investigation reference is six months.
• Clause 129 removes the time limit to give flexibility in consultation timing.
• Schedule 6 allows CMA to accept voluntary undertakings at any stage of inquiries.
• Clause 132 introduces schedule 7, giving new powers for trial remedies limited initially to information provision or publication.