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.
Global Competition Law also provides insight into possible future developments in the field.

Global Competition Law

In accordance with Section 27 of the Act, the Competition Authority has 30 calendar days to make a decision either authorizing the concentration or initiating a second stage investigation. In the absence of a decision from the Competition Authority within 30 days of receipt of notification, the concentration is considered authorized (Section 27(5)). Under Phase 2 proceedings, the Competition Autho …

Proceedings before the Competition Authority

Where the thresholds are met, the Competition Authority must be notified of a concentration subject to control before the entry into force of the concentration in conformity with the terms provided in Sections 26 and 27 of this Act, and after: 1) entry into a merger agreement or performance of a transaction or other act for acquisition of parts of the undertaking ; 2) performance of a transaction or other act for acquisition of control; 3) performance of a transaction or other act for acquisition of joint control ; 4) announcement of a public bid for securities (Section 25(1)). Before notification of a concentration, a State fee for processing the notice must be paid pursuant to the procedure provided by the State Fees Act. The notification must include data concerning the turnover of the parties and all other relevant information necessary for the Authority to assess the effect on competition. There is no official form similar to EU form CO to be filled by the parties to a merger, but the Guidelines for submission of notices of concentration established by the Minister of Economic Affairs and Communications set out a full list of the information to be supplied (see also Section 26 of the Act). The filing fee is set at EUR 1.920.

Parties may not implement a transaction before the Competition Authority has cleared the concentration.

Merger notification

In accordance with Section 27 of the Act, the Competition Authority has 30 calendar days to make a decision either authorizing the concentration or initiating a second stage investigation. In the absence of a decision from the Competition Authority within 30 days of receipt of notification, the concentration is considered authorized (Section 27(5)). Under Phase 2 proceedings, the Competition Authority has four months to reach a decision. If the Competition Authority does not notify its decision within the four-month term, the concentration is deemed to be authorized.

The Competition Authority has the same powers of investigation in merger proceedings as it enjoys in the area of anticompetitive conduct. Thus, it may demand information from all natural and legal persons, and from State and local Government agencies. Moreover, interested parties, i.e. third parties with a legitimate interest, have the right to submit opinions and objections to the Authority within 7 calendar days after the publication of a notice announcing a concentration notification. Pursuant to Section 28(5), at the request of the parties or where considered necessary by the Authority, an oral hearing of the parties may be held.

Section 27 of the Competition Act was amended in June 2013 and now provides that the parties to a cleared concentration must implement the merger within six months. The Competition Authority may extend the specified term once for up to one year. 

Global Competition Law

230. Proceedings before the Competition Authority

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Les notions juridiques connexes

230. Proceedings before the Competition Authority

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