51ABZITime for making determinations

51ABZI Time for making determinations

Earliest time for making determinations

(1) The Commission must not make a determination under subsection 51ABZE(1) in respect of a notification of an acquisition earlier than 15 business days after the effective notification date of the notification.

Commission deemed to make determination at end of determination period

(2) The Commission is taken to determine under paragraph 51ABZE(1)(a), at the end of the determination period for a notification of an acquisition, that the acquisition may be put into effect, unless the Commission makes a determination under subsection 51ABZE(1) in respect of the notification before the end of that period.

Note: A determination the Commission is taken to make under this subsection does not include any conditions under subsection 51ABZF(1) or declarations under subsection 51ABZG(1).

Determination periods

(3) The determination period for a notification of an acquisition is:

(a) if the notification is not subject to phase 2 review—the phase 1 determination period for the notification; or

(b) if the notification is subject to phase 2 review—the phase 2 determination period for the notification.

(4) The phase 1 determination period for a notification of an acquisition that has an effective notification date:

(a) starts on the effective notification date; and

(b) subject to subparagraph 51ABZB(2)(a)(ii) and section 51ABZZE (extensions of determination periods), ends 30 business days after it starts.

(5) If a notification of an acquisition is subject to phase 2 review, the phase 2 determination period for the notification:

(a) starts immediately after the end of the phase 1 determination period for the notification; and

(b) subject to paragraph 51ABZB(2)(b), subsections 51ABZK(5), 51ABZL(4) and 51ABZN(2) and section 51ABZZE (extensions of determination periods), ends 90 business days after it starts.

Invalid determinations etc.

(6) Subsection (7) applies if:

(a) the Commission purports to make a determination in respect of a notification of an acquisition under subsection 51ABZE(1) before the end of the determination period; and

(b) the determination is invalid, or a court:

(i) sets the determination aside; or

(ii) remits the decision to make the determination back to the Commission to be remade.

(7) A reference in subsection (2) of this section to making a determination before the end of the determination period includes a reference to purportedly making a determination as mentioned in paragraph (6)(a).