New guideline adopted by ACCC for future informal merger reviews
The Australian Competition and Consumer Commission implemented new processes for reviewing informal merger proposals on 18 October 2004.
The processes, outlined in the ACCC's Guideline for Informal Merger Reviews, will be applied to all new complex merger proposals received by the ACCC.
The guideline will supplement the existing Merger guidelines.
Broadly speaking the new processes will result in the following changes:
The establishment of a new register on the ACCC's internet site where information (e.g. timelines, Statement of Issues, Public Competition Assessments) concerning merger proposals will be posted—subject to appropriate protection of confidentiality requirements.
The provision of indicative timelines for the more complex merger assessments. These timelines will be developed by ACCC staff and, when possible, in consultation with the merger parties, before the commencement of the assessment. When it is deemed appropriate, 'clock stoppers' will be included in the timelines.
The provision of a Statement of Issues for proposals when competition issues have been identified following appropriate consultation with the merger parties and those issues require further information and consideration. This statement will be placed on the public register on the ACCC internet site.
An expansion in the provision of Public Competition Assessments (these outline the basis for reaching a final conclusion on a transaction proposal) to include those matters where:
a merger is rejected
a merger is subject to enforceable undertakings
the merger parties seek such disclosure, or
a merger is approved but raises important issues that the ACCC considers should be made public.
Additional guidance as to communication between the merger parties, their advisers and the ACCC staff and Commissioners.
Additional guidance concerning the types of information that should be submitted by the merging parties in order to ensure a proper assessment by the ACCC.
An updated guide to unconscionable conduct law was launched on 18 October by Australian Competition and Consumer Commission (ACCC) Chairman, Mr Graeme Samuel.
Mr Samuel told the ACCC's Small Business Advisory Group in Canberra, that the guide was part of a suite of educative material about the unconscionable conduct law.
The guide added to the existing education campaign which included the Competing Fairly Forum video special on unconscionable conduct law, regular presentations to small business groups by the ACCC's rural outreach and small business managers and a forthcoming 'simple English' guide for businesspeople, he said.
'Unconscionable conduct law is not static. Since its strengthening several years ago it has been developed and refined by private and ACCC litigation in the courts and the guide reflects this.'
The guide contains recent interpretations of the unconscionable conduct law and provides guidance on how the law applies in dealings with business and consumers.
The guide costs $10 for a printed copy (post paid) and is available from ACCC offices in all capital cities and Townsville or from the ACCC publishing unit on 02 6243 1143. It is also available to download, free, from the ACCC website.
