Section 99 Federal Competition and Consumer Protection Act 2018

Section 99 of the Federal Competition and Consumer Protection Act 2018 is about Revocation of merger approval. It is under Part XII (Price Mergers) of the Act.

(1) The Commission may revoke its own decision to approve or conditionally approve a small or large merger if-
(a) the decision was based on incorrect information for which a party to the merger is responsible;
(b) the approval was obtained by deceit;
(c) the parties fail to implement the merger within 12 months after the approval was granted; or
(d) an undertaking concerned has breached an obligation attached to the decision of the Commission approving the merger.

(2) Where the Commission revokes its decision approving a merger under subsection (1), it may prohibit that merger even though any time limit set out under the relevant provision of this Part may have elapsed and the merger was approved on account of the failure of the Commission to reach a decision within the period prescribed under this Act.