Global Competition Law is primarly a practitioner's guide presenting the most salient aspects of the major competition laws country by country, giving an overview of their structure and most charasteristic elements.
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Global Competition Law

Notification is not mandatory. However, undertakings having serious concerns as to whether their anticipated merger will, if carried into effect, be in violation of the law, or that their merger has infringed the Section 54 prohibition, may apply to the CCCS for a decision. Under the former CCS's Guidelines on the Substantive Assessment of Mergers of December 2016, the CCCS is generally of the vie …

Merger notification

Notification is not mandatory. However, undertakings having serious concerns as to whether their anticipated merger will, if carried into effect, be in violation of the law, or that their merger has infringed the Section 54 prohibition, may apply to the CCCS for a decision. Under the former CCS's Guidelines on the Substantive Assessment of Mergers of December 2016, the CCCS is generally of the view that competition concerns are unlikely to arise in a merger situation unless: the merged entity will have a market share of 40% or more; or the merged entity will have a market share of between 20% to 40% and the post-merger concentration ratio of the three largest firms is 70% or more. According to the CCCS, those thresholds are merely indicators of potential competition concerns and do not give rise to a presumption that such a merger will lessen competition substantially.

Filling fees are set at S$ 15,000 (US$ 11,016), S$ 50,000 (US$ 36,720) or S$ 100,000 (US$ 73,440) where the target turnover or asset respectively is equal to or less than S$ 200 million (US$ 146.8 million) is between S$ 200 and 600 million (US$ 146.8 million and 440 million) or above 600 million (US$ 434 million).

If any interested party wishes to inform the CCCS of a merger that it considers might raise concerns under the merger provisions of the Act, it is encouraged to make use of the Complaint Form on the CCCS website in order to register the complaint. Complainants should try to provide all the information requested in the form. The CCCS endeavors to keep complaints and the identity of complainants confidential. It should be noted that there is no obligation on the CCCS to follow-up or investigate complaints relating to non-notified mergers as this would undermine the benefits of the voluntary regime.

The CCCS has certain powers of investigation if there are reasonable grounds for suspecting that the Section 54 prohibition will be infringed by any anticipated merger if carried into effect or has been infringed by any merger (Section 62 et seq.).

The CCCS adopts a two-phased approach when evaluating notified anticipated mergers and mergers. Upon receiving the notification, the CCCS will carry out Phase 1 review, which is expected to be completed within 30 working days from when the applicable Phase 1 filing requirements have been met. Anticipated mergers and mergers that clearly do not raise any competition concerns under the Section 54 prohibition will be cleared under Phase 1. If the CCCS is unable, based on the information submitted during the Phase 1 review, to conclude that the anticipated merger or merger does not raise any competition concerns, it will proceed to the Phase 2 review. The Phase 2 review entails a more detailed assessment, and is expected to be completed within 120 working days from when the applicable Phase 2 filing requirements have been met. The timeframes of 30 working days and 120 working days are administrative in nature, and may be stopped if parties fail to comply with the CCCS' requests for further information or if commitments are being negotiated.

Where the CCCS proposes upon a notification to make a decision that the notified anticipated merger will if carried into effect infringe, or that the notified merger has infringed, the Section 54 prohibition, it will give notice to the party who applied for the decision or, where that party no longer exists, the merged entity. That party may, within 14 days of the notice, apply to the Minister for the anticipated merger or merger to be exempted from the Section 54 prohibition on the ground of any public interest consideration.

Global Competition Law

1238. Merger notification

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Les notions juridiques connexes

1238. Merger notification

Demandez un accès gratuit au contenu exclusif Livv – juristes d’entreprise

Les notions juridiques connexes

Demandez un accès gratuit
au contenu exclusif Livv – juristes d’entreprise