Competition and Consumer Act 2010 (Cth)
Commission to notify if clearance application is invalid
If the Commission receives a purported application that it considers is not a valid application, it must, within 5 business days of receiving the purported application, give the person who made the purported application a written notice:
(a) stating that the person has not made a valid application; and
(b) giving reasons why the purported application does not comply with this Division.
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.
See mergers page.