51ABZECommission consideration of acquisitions

51ABZE Commission consideration of acquisitions

(1) If the Commission is notified of a proposed acquisition in accordance with subsection 51ABX(1), the Commission may, in writing, determine:

(a) that the acquisition may be put into effect; or

(b) that the acquisition must not be put into effect.

Note: The determination may include:

(a) conditions (see section 51ABZF); or

(b) declarations relating to goodwill protection provisions (see section 51ABZG).

(2) The Commission must not determine that the acquisition must not be put into effect unless:

(a) the notification is subject to phase 2 review; and

(b) the Commission has given a notice of competition concerns in relation to the notification in accordance with section 51ABZK; and

(c) the Commission is satisfied that the acquisition, if put into effect, would, in all the circumstances, have the effect, or be likely to have the effect, of substantially lessening competition in any market.

(3) In considering whether to determine that the acquisition may be put into effect or must not be put into effect, the Commission must have regard to:

(a) the object of this Act; and

(b) all relevant matters, including the interests of consumers.

(4) The Commission must give:

(a) written notice of the determination under subsection (1); and

(b) a written statement of the Commission’s reasons for making the determination;

to the notifying party of the notification of the acquisition.

Note 1: If the Commission determines that the acquisition must not be put into effect, the notifying party may apply to the Commission under Division 5 for a determination that the acquisition would be of public benefit.

Note 2: For review of a determination made under subsection (1), see Division 1B of Part IX.

(5) For the purposes of this Act (other than this Division, Subdivision B of Division 6 and paragraph 51ABZZM(2)(a)), the determination is taken to be made when the Commission includes a copy of it on the acquisitions register.