It shall be the duty of the Director—
(a)to take all such steps as are reasonably practicable for keeping himself informed about actual or prospective arrangements or transactions which may constitute or result in the creation of merger situations qualifying for investigation, and
(b)to make recommendations to the Secretary of State as to any action under this Part of this Act which in the opinion of the Director it would be expedient for the Secretary of State to take in relation to any such arrangements or transactions.