Australian Treasurer Announces Merger Changes

Already a subscriber?In announcing his merger changes, Treasurer Jim Chalmers pointed to the package as a balanced set of reforms that is intended to result in a “faster, stronger and simpler” clearance process. It’s too early to be certain, but that may well overstate what will be delivered.

Treasurer Jim Chalmers says stronger competition powers will improve the economy and overall living standards.for business is that the government has rejected the ACCC’s initial call for the test for merger approval to push the onus onto merger parties to prove that their deal was not anticompetitive.

First, as expected, the regime introduces a compulsory notification regime. The combination of mandatory notification and an “on the papers” review process before the tribunal, which limits the information to what had been provided to the ACCC, means that all notifiable mergers may be subject to more onerous up-front information requirements.

Third, ACCC decisions will not be subject to full evidentiary review. A decision to block will be subject only to limited merits review, meaning there is little scope for parties to test the veracity of evidence gathered by the ACCC or to correct gaps in the ACCC’s investigative process or economic analysis.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Treasurer Jim Chalmers embarks on legacy-building merger reformsHow the treasurer’s merger reforms end up working in practice will be known in just a few years. Whether they achieve their economic objective will not be known for decades.
Source: FinancialReview - 🏆 2. / 90 Read more »

Merger law: Jim Chalmers reveals changes to merger regimeThe ACCC will be able to block serial acquisitions and those that entrench the market power of big players, but Jim Chalmers rejected a “presumptive ban” on mergers.
Source: FinancialReview - 🏆 2. / 90 Read more »

Proposed Reforms to Australian Merger ApprovalsThe Australian Competition and Consumer Commission has been pushing for reform in this area for years, warning that the current model is hurting consumers and letting anti-competitive deals go ahead. This article discusses the two key reforms that will change how deals are done in Australia and the potential impact on foreign investors.
Source: FinancialReview - 🏆 2. / 90 Read more »

Australian Government to Announce Changes to Business Merger LawsFederal Treasurer Jim Chalmers has stated that the government will unveil modifications to the federal laws governing business mergers this week. The announcement is part of the government's strategy to enhance competition in the economy.
Source: SBSNews - 🏆 3. / 89 Read more »