Section 95 Federal Competition and Consumer Protection Act 2018
Section 95 of the Federal Competition and Consumer Protection Act 2018 is about Notification requirements for a small merger. It is under Part XII (Price Mergers) of the Act.
(1) A party to a small merger-
(a) is not required to notify the Commission of that merger unless the Commission requires it to do so in accordance with the provision of subsection (3); and
(b) may implement that merger without approval, unless it is required to notify the Commission in accordance with the provisions of subsection (3).
(2) A party to a small merger may voluntarily notify the Commission of that merger at any time.
(3) Within six months after a small merger is implemented, the Commission may require the parties to that merger to notify it of the merger in the prescribed manner and form if, in the opinion of the Commission, having regard to the provisions of the section, the merger may substantially prevent or lessen competition.
(4) The notification of the merger referred to in subsection (3) shall be published within five business days after receipt by the Commission.
(5) A party to a merger to which subsection (4) applies may take no further steps to implement that merger until the merger has been approved by the Commission with or without conditions.
(6) Within 20 business days after parties to a small merger have fulfilled the notification requirement referred to in subsection (3), the Commission may extend the period in which it has to consider the merger by a single period not exceeding 40 business days and, in that case, the Commission shall –
(a) issue an extension notice to any party who notified it of the merger; or
(b) after having considered the merger as required under this section, issue a report in the prescribed form-
(i) approving the merger,
(ii) approving the merger subject to any conditions,
(iii) prohibiting implementation of the merger, if it has not been implemented, or
(iv) declaring the merger to be prohibited.
(7) Where, upon the expiry of the 20 business days provided for in subsection ( 6), the Commission has not issued the extension notice referred to in subsection (6) (a) or, upon the expiry of an extension period referred to in that subsection, the Commission has not issued a report referred to in subsection ( 6) (b), the merger shall be deemed to have been approved.
(8) The Commission shall-
(a) publish a notice of any decision it makes pursuant to this section in the Federal Government Gazette; and
(b) issue written reasons for the decision if-
(i) it prohibits or conditionally approves a merger, or
(ii) requested to do so by a party to a merger.
