News story: Government responds to the proposed merger of Impcross Ltd and Gardner Aerospace Holdings Ltd

The government has been made aware of the proposed merger of Impcross Ltd and Gardner Aerospace Holdings Ltd.

Under the Enterprise Act 2002, the Secretary of State for Business, Energy and Industrial Strategy has the power to intervene in certain mergers on public interest grounds relating to national security. This responsibility is discharged in a quasi-judicial capacity, which means that the Secretary of State must act, and be seen to act, in a fair and impartial manner.

On 5 December 2019, acting on official advice, the Secretary of State issued a public interest intervention notice, confirming that she is intervening in the merger on national security grounds. In reaching this decision, she considered the representations received from the Secretary of State for Defence.

The Competition and Markets Authority (CMA) will prepare a report on the jurisdictional, competition and national security aspects of the proposed transaction. The CMA has until midnight on 2 March 2020 to complete and submit this report to the Secretary of State.

In addition, an Order was made pursuant to paragraph 2(2) of schedule 7 to the Enterprise Act 2002 to prevent the parties taking any actions that might raise national security concerns. The comprehensive Order prevents the completion of the transaction and the transfer of material or information between the parties. The Order can be varied by the Secretary of State and she must act reasonably when considering any requests from the parties to amend it.

It was necessary to make and bring this Order into force before it could be laid before Parliament as to do otherwise would have given the parties the opportunity to take actions that might have undermined the purpose and effectiveness of the order. The Secretary of State has written to the Lord Speaker and the Clerks of both Houses to inform them of her decision. The Order will be laid before the new Parliament when it is assembled, and normal Parliamentary scrutiny will then take place.

Business Secretary Andrea Leadsom said:

The Enterprise Act provides the government with the power to intervene in, and, if necessary, block mergers in order to protect national security.

I will not hesitate to use my powers to protect national security, if it is appropriate to do so.

Following careful consideration, I have issued an intervention notice to the Competition and Markets Authority to investigate the national security concerns and competition aspects in this case.

The CMA will now investigate and carry out a review of the national security implications of the transaction. They must report back to me by 2 March 2020.

Additionally, I have placed an Order on the companies while the transaction is being investigated to prevent them taking actions which might raise national security concerns. Beyond what is needed to protect national security, I will ensure that this does not impede the companies when acting in the normal course of business.

For more information about the intervention powers, see the guidance on mergers and on CMA’s jurisdiction and procedure.

Notice: Proposed acquisition of Impcross Limited by Gardner Aerospace Holdings Limited

Under the Enterprise Act 2002, the Secretary of State for Business, Energy and Industrial Strategy has the power to intervene in mergers on public interest grounds relating to national security. This responsibility is discharged in a quasi-judicial capacity, which means that the Secretary of State must act, and be seen to act, in a scrupulously fair and impartial manner.

On 5 December 2019, acting on official advice, the Secretary of State issued a public intervention notice confirming that she is intervening in the merger on national security grounds.

The Competition and Markets Authority (CMA) is now required to investigate and prepare a report which they must submit to the Secretary of State by midnight on 2 March 2020.

See the related news story.

Career breaks

There are no laws that deal specifically with taking a career break – it is only an agreement between the employer and the employee.

Employers do not have to offer career breaks. If they do, the policy must be clearly laid out (for example, in a staff handbook) and should cover things like:

  • eligibility and notice periods
  • how to apply and how long is allowed
  • if the employment contract’s terms and conditions continue - for example, qualifying for pay increases

Employees can make arrangements to return to work after a career break but these agreements are not legally binding and it could mean ending the existing contract of employment.

Employees cannot take legal action if an employer decides they cannot return to their job or a similar one.

Career breaks

There are no laws that deal specifically with taking a career break – it is only an agreement between the employer and the employee.

Employers do not have to offer career breaks. If they do, the policy must be clearly laid out (for example, in a staff handbook) and should cover things like:

  • eligibility and notice periods
  • how to apply and how long is allowed
  • if the employment contract’s terms and conditions continue - for example, qualifying for pay increases

Employees can make arrangements to return to work after a career break but these agreements are not legally binding and it could mean ending the existing contract of employment.

Employees cannot take legal action if an employer decides they cannot return to their job or a similar one.

National Statistics: Building materials and components statistics: November 2019

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National Statistics: Building materials and components statistics: November 2019

This file is in an OpenDocument format

This file may not be suitable for users of assistive technology. Request an accessible format.

If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email enquiries@beis.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.

Co-operate with the official receiver after your company has been liquidated

You must help the official receiver (OR) when the company you’re a director of is wound up (liquidated) as a result of insolvency.

Your responsibilities when your company is being liquidated

When your company is being liquidated, the court will appoint an official receiver to settle your company’s debts and investigate why your company became insolvent.

The official receiver will send you a questionnaire about your company and ask you to attend an interview.

At the interview you must:

  • give the official receiver your completed questionnaire
  • hand over all company books (accounts), records and paperwork in your possession
  • give full details of all the company’s assets and liabilities
  • tell the official receiver if somebody else is holding assets or trading records

If you do not co-operate with the official receiver, you might:

  • be prosecuted
  • be disqualified as a company director
  • have to answer questions in court
  • have a warrant issued for your arrest

What you can and cannot do after liquidation

After liquidation you:

  • must co-operate with the official receiver
  • cannot control the company’s business
  • cannot act for or on behalf of the company
  • cannot use company assets to pay creditors or for your own use and benefit
  • cannot re-use the company name

Settling the company’s debts and paying for shares

You may have to help the official receiver sell the company’s assets during liquidation.

If you’ve guaranteed any of the company’s debts, it means that you’ve agreed to pay the debt if the company cannot. You may also have to help pay debts if the company has traded wrongfully or fraudulently.

If you’re a shareholder of the company, you may be asked to pay for any shares that you have not paid for in full.