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

A concentration must be notified to the Competition Commission within thirty days after the conclusion of the agreement or the publication of the tender or exchange or acquisition of a controlling interest in cases where established thresholds are satisfied (Section 6(1)). Where a merger agreement is involved, each of the undertakings concerned must notify the concentration. In all other cases, on …

Merger notification

A concentration must be notified to the Competition Commission within thirty days after the conclusion of the agreement or the publication of the tender or exchange or acquisition of a controlling interest in cases where established thresholds are satisfied (Section 6(1)). Where a merger agreement is involved, each of the undertakings concerned must notify the concentration. In all other cases, only the person, undertaking or group acquiring control of the whole or part of another undertaking is required to notify the concentration (Section 6(3)). 

A concentration subject to the premerger notification requirement cannot be implemented until the Competition Commission issues a decision, except in the case of public offer, or acquisition in stock market trading holding, if the concentration is notified within the thirty-days period and the acquirer does not exercise the voting rights associated with the securities concerned or does so only to maintain the full value of those investments and with the Commission's permission (Section 9(2)). According to Section 9(3), the Competition Commission may also, upon request, dispense with the obligations set out in paragraphs 1 and 2 in order to avoid serious damage to one or more firms involved in the merger or to third parties (Section 9(3)). The filing fee is set at EUR 1,100.

In 2013, the Competition Commission adopted new Guidelines for Merger Notification Forms (No 558/VII/2013) which provide different forms and detail the criteria applicable for filing notifications. 

 Once notification is submitted to the Competition Commission, it examines the proposed concentration. Where a finding is made that the proposed concentration is not covered by the Competition Act, i.e. it does not meet the thresholds for notification or is not a concentration for the purposes of the Act, the President of the Competition Commission issues a decision including such finding within one month of receipt of notification (Section 8(2)). If the notified concentration, although falling within the scope of paragraph 1 of Section 6, does not raise serious doubts as to the compatibility thereof with the requirements of operation of competition in individual markets concerned, the Competition Commission, in a decision issued within one month of notification, approves the merger (Section 8(3)). In both those cases the proceedings will terminate at Phase 1.

  However, if the notified concentration raises serious doubts as to its compatibility with competition in the individual markets concerned, the President of the Competition Commission shall initiate the process of full investigation of the concentration and inform the undertakings of its decision within one month of notification (Phase 2). Firms can make modifications to the merger or propose commitments so as to remove any serious doubts as to the compatibility of the operation with competition in the individual markets concerned.

  Phase 2 takes approximately ninety days. If, on expiry of that deadline, the Commission has not yet come to a decision, the concentration is considered as authorized (Section 9(6)). The decisions and opinions of the Competition Commission under the provisions of the Competition Act are published in the Gazette and posted on the Internet (Section 47).

Global Competition Law

358. Merger notification

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Les notions juridiques connexes

358. 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