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

Competition and Consumer Act 2010 (Cth)

Section 95AZH
When authorisation must not be granted

 

The provision

(1) The Tribunal must not grant an authorisation in relation to a proposed acquisition of shares or assets unless it is satisfied in all the circumstances that the proposed acquisition would result, or be likely to result, in such a benefit to the public that the acquisition should be allowed to occur.

(2) In determining what amounts to a benefit to the public for the purposes of subsection (1):

(a) the Tribunal must regard the following as benefits to the public (in addition to any other benefits to the public that may exist apart from this paragraph):

(i) a significant increase in the real value of exports;

(ii) a significant substitution of domestic products for imported goods; and

(b) without limiting the matters that may be taken into account, the Tribunal must take into account all other relevant matters that relate to the international competitiveness of any Australian industry.

(3) To avoid doubt, an authorisation cannot be granted for an acquisition that has occurred.

 

Legislative history

Forthcoming

 

Commentary

See further mergers page.

 

Cases

Application by AGL Energy Limited for merger authorisation (proposed acquisition of Macquarie Generation) (24 March 2014). On 25 June 2014 the Tribunal granted authorisation for the proposed acquisition.

Application by Sea Swift Pty Limited for merger authorisation (proposed acquisition of certain Toll Marine Logistics assets)
(made and withdrawn in 2015; new application 2016). On 1 July 2016 the Tribunal granted authorisation (subject to conditions)

Tabcorp Holdings and Tatts Group - proposed merger (ACT 1 of 2017)
(authorised subject to condition that Tabcorp divest Odyssey Gaming business in Queensland (20 June 2017))