Competition and Consumer Act 2010 (Cth)
Requirement for valid clearance application
(1) To be valid, the application must:
(a) be in a form prescribed by the regulations and contain the information required by the form; and
(b) be accompanied by such other information or documents as are prescribed by the regulations; and
(c) be accompanied by the fee (if any) prescribed by the regulations.
(2) The regulations may prescribe that the application form contain a requirement that the applicant give an undertaking under section 87B that the applicant will not make the acquisition while the application is being considered by the Commission.
Division 3 of Part VII of the Act was introduced in 2006 following recommendations by the Dawson Committee. Subdivision B allows parties to apply for 'formal clearance' of their mergers. There is no mandatory pre-merger notification regime operating in Australia and the ACCC may still provide informal advice to parties regarding the legality of their proposed merger.
Regulations currently prescribe a fee and a form to be used for merger clearance applications. Currently, a fee of $25,000 is payable to the ACCC for a formal clearance application (reg 28/Schedule 1B). Applications must be in accordance with Form O (reg 73(1)).
See mergers page.