Competition Act 2002

F106[Power to require notification of below threshold mergers or acquisitions

18A

18A.(1) This section applies to a merger or acquisition that—

(a) is not required to be notified under section 18(1),

(b) has not been notified to the Commission under section 18(3) or 18(3A), and

(c) may, in the opinion of the Commission, have an effect on competition in markets for goods or services in the State.

(2) In relation to a merger or acquisition to which this section applies, the Commission may require, in accordance with subsection (3), each of the undertakings involved in the merger or acquisition to notify the Commission in writing, and provide full details, of the merger or acquisition and an undertaking of which such a requirement is made shall comply with the requirement.

(3) A requirement under subsection (2) shall—

(a) be made by notice in writing served on each of the undertakings involved in the merger or acquisition,

(b) specify a period within which the undertakings involved in the merger or acquisition shall submit a notification to the Commission, and

(c) be made by the Commission no later than 60 working days after the earliest of the following dates:

(i) the date on which one of the undertakings involved in the merger or acquisition publicly announces an intention to make a public bid or a public bid is made but not yet accepted;

(ii) the date on which the Commission becomes aware that the undertakings involved in the merger or acquisition have entered into an agreement the result of which will, if the agreement is implemented, be that the merger or acquisition occurs;

(iii) the date on which the merger or acquisition is put into effect.

(4) Where an undertaking of which a requirement is made under subsection (2) requests in writing, before the expiration of—

(a) the period specified in the requirement, or

(b) such period as stands extended from time to time in accordance with this subsection,

an extension to the period within which it is required to notify the merger or acquisition concerned to the Commission, the Commission may, where it considers it appropriate to do so, extend that period, and an undertaking in respect of which such an extension is granted shall comply with the requirement within the period as so extended.

(5) (a) Subject to paragraph (b), sections 18(8), 18(12), 19, 20, 21 and 22 shall apply to a notification under subsection (2) as if it were a notification under section 18(1).

(b) Where a merger or acquisition to which this section applies has already been put into effect at the time a requirement is made under this section, subsections (1) to (5) of section 19 shall not apply to the merger or acquisition.

(6) Where an undertaking does not comply with a requirement to notify a merger or acquisition under subsection (2) within the period specified in the requirement, the Commission may, in relation to the merger or acquisition, do one or more of the following:

(a) examine the merger or acquisition in accordance with section 20 as if a notification had been received by the Commission in respect of it on the last day of the period specified in the requirement under subsection (1);

(b) where the Commission considers it appropriate to do so due to the risk that the merger or acquisition may have an effect on competition in any markets for goods or services in the State, impose interim measures and the provisions of section 18B will apply mutatis mutandis to any measures so imposed.]

Annotations:

Amendments:

F106

Inserted (27.09.2023) by Competition (Amendment) Act 2022 (12/2022), s. 15, S.I. No. 448 of 2023, subject to transitional provisions in s. 3.