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(1)Every merger reference shall specify a period (not being longer than six months beginning with the date of the reference) within which a report on the reference is to be made ; and a report of the Commission on a merger reference shall not have effect, and no action shall be taken in relation to it under this Act, unless the report is made before the end of that period or of such further period (if any) as may be allowed by the Secretary of State in accordance with the next following subsection.
(2)The Secretary of State shall not allow any further period for a report on a merger reference except on representations made by the Commission and on being satisfied that there are special reasons why the report cannot be made within the period specified in the reference ; and the Secretary of State shall allow only one such further period on any one reference, and no such further period shall be longer than three months.
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