Competition watchdog boss Gina Cass-Gottlieb has seized on the current economic uncertainty to make an urgent push to overhaul merger laws to require companies to gain formal clearance from the regulator before pursuing any tie-up.
Ms Cass-Gottlieb had stayed quiet on her own merger reform plans until Wednesday’s speech, with some legal insiders suggesting her corporate law background may mean she took a less litigious approach to Mr Sims. Ms Cass-Gottlieb said the changes the ACCC sought would bring Australia’s merger regime into line with many OECD countries.
Under the current regime, mergers can be prohibited if they are likely to result in a substantial lessening of competition.However, companies are not required to notify the ACCC of the planned marriage nor wait for ACCC clearance before the merger is finalised. “Given that there are no up-front information requirements for an informal review, merger parties are increasingly giving us late, incomplete, or incorrect information,” she said.
What about building companies who go bust and open up next week under different name, ABN etc. with same directors. acccgovau ato_gov_au
I don't remember voting for that.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
South Africa South Africa Latest News, South Africa South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gina Rinehart sells four Kidman cattle stations from company's dwindling portfolioThe Gina Rinehart-owned S. Kidman and Co has sold four of its stations spanning 2.4 million hectares in Queensland and the Northern Territory. read that as …. sells four Kidneys 😂 And what a trend-setter pic that is. Matching cufflinks and hat with the lips. Brilliant. Very rich indeed.🐂 This isn't news
Source: abcnews - 🏆 5. / 83 Read more »
‘It will get worse’ for large building companies as Porter Davis collapses“It will get worse” for large building companies as they attempt to rescue collapsed building company Porter Davis, says Association of Professional Builders’ Russ Stephens. “That’s simply because the damage that has been done since the back end of 2020 with those contracts being signed,” he told Sky News Australia. “That is all beneath the surface, it’s not clearly visible to anyone outside of the company having access to those financials to see that the true damage those price rises did.”
Source: SkyNewsAust - 🏆 7. / 78 Read more »
New groundwater fee for fracking companies in NT 'not anywhere near' enough, economists sayFracking companies will soon be charged a flat $3,000 fee for taking groundwater, but water economists say that's too cheap. I have a great idea. Why not give the rights to all our groundwater to Chinese companies, they can then charge the landowners (on whose land the water lies) for a water license to use their own water. Opps, I am too late, some genius thought of this before me. Thats about a government saying 'look what we've done', while doing nothing. Political smoke and mirrors.
Source: abcnews - 🏆 5. / 83 Read more »