Competition and Consumer Act 2010 (Cth)
When clearance is in force
(1) A clearance that is not subject to conditions comes into force on the day on which the determination granting the clearance is made.
(2) A clearance that is subject to conditions comes into force:
(a) if an application is made to the Tribunal for a review of the Commission’s determination and the application is not withdrawn—on the day on which the Tribunal makes a determination on the review; or
(b) if an application is made to the Tribunal for a review of the Commission’s determination and the application is withdrawn—on the day on which the application is withdrawn; or
(c) if the person to whom the clearance was given gives a notice in writing to the Commission stating that the person will not make an application to the Tribunal for review—on the day on which the notice is given; or
(d) in any other case—at the end of the period in which an application may be made to the Tribunal for review of the determination.
(3) A clearance may be expressed to be in force for a period specified in the clearance and, if so expressed, remains in force for that period only.
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.