A valid application for authorisation or notification must be lodged using the prescribed lodgement form/s and accompanied by the prescribed fee.
Notification is an alternative process to authorisation where parties that propose to engage in certain conduct may seek protection from legal action under the Competition and Consumer Act, if the conduct is in the public interest.
The ACCC can ‘authorise’ businesses to engage in anti-competitive arrangements or conduct when it is satisfied that the public benefit from the arrangements or conduct outweighs any public detriment. Authorisation provides protection from legal action under the Competition and Consumer Act.
Merger parties are not legally required to notify the ACCC of a merger and have the option of proceeding with the merger without seeking any regulatory consideration. However, this will not prevent the ACCC from subsequently investigating the merger, including making public inquiries to assist its investigation and, if necessary, taking legal action.