Home Page / Legislation / Competition and Consumer Act 2010 / s 95AE

Competition and Consumer Act 2010 (Cth)

Section 95AE
Requirement for valid clearance application

 

The provision

(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.

 

Legislative history

 

Commentary

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.