The competition framework Part 4: Competition Reform Summary and Background
224.The main provisions of this Chapter:
	introduce statutory time limits and information gathering powers for all parts of the merger review process;
	introduce a time limited period after the Phase 1 decision where merging parties can offer and negotiate undertakings in lieu (“UILs”) of a referral;
	strengthen the voluntary notification regime by giving the CMA the ability to suspend all integration steps in completed and anticipated mergers;
	clarify the type and range of measures that the CMA can take at Phase 1 and Phase 2 to prevent pre-emptive action; and
	introduce financial penalties for breach of CMA interim measures.