151FACCC to accept or reject functional separation undertaking

#### 151F ACCC to accept or reject functional separation undertaking Scope (1) This section applies if: (a) a person gives the ACCC a standard functional separation undertaking; or (b) 2 or more persons give the ACCC a joint functional separation undertaking. Decision to accept or reject undertaking (2) After considering the undertaking, the ACCC must: (a) accept the undertaking; or (b) reject the undertaking. Notice of decision (3) If the ACCC accepts the undertaking, the ACCC must give the person or persons a written notice stating that the undertaking has been accepted. (4) If the ACCC rejects the undertaking, the ACCC must give the person or persons a written notice: (a) stating that the undertaking has been rejected; and (b) setting out the reasons for the rejection. ACCC to make decision within 3 months (5) The ACCC must take all reasonable steps to ensure that a decision about the undertaking is made under subsection (2) within 3 months after receiving the undertaking. (6) In calculating the 3‑month period referred to in subsection (5), disregard: (a) if: (i) the ACCC has given a notice under section 151K in relation to the undertaking; and (ii) no varied undertaking was given to the ACCC in response to the notice; a day in the period specified in the notice; and (b) if: (i) the ACCC has given a notice under section 151K in relation to the undertaking; and (ii) a varied undertaking was given to the ACCC in response to the notice; a day in the period: (iii) beginning on the day on which the notice was given; and (iv) ending at the end of the time limit specified by the ACCC when it published the varied undertaking under section 151G; and (c) if the ACCC has not given a notice under section 151K in relation to the undertaking—a day in the period: (i) beginning on the day on which the ACCC published the undertaking under section 151G; and (ii) ending at the end of the time limit specified by the ACCC when it published the undertaking under section 151G; and (d) if the ACCC has requested further information under section 151D in relation to the undertaking—a day during any part of which the request, or any part of the request, remains unfulfilled. Extension of decision‑making period (7) The ACCC may, by written notice given to the person or persons, extend the 3‑month period referred to in subsection (5) (the initial 3‑month period), so long as: (a) the extension is for a period of not more than 3 months; and (b) the notice includes a statement explaining why the ACCC has been unable to make a decision on the undertaking within the initial 3‑month period. (8) As soon as practicable after the ACCC gives a notice under subsection (7), the ACCC must publish a copy of the notice on the ACCC’s website.