Treasury Laws Amendment (Mergers and Acquisitions Reform) Act 2024 (137 of 2024)

Schedule 1   Acquisitions

Part 2   Amendments commencing 1 July 2025

Division 1   Amendment of the Competition and Consumer Act 2010

Competition and Consumer Act 2010

43   After section 80AC

Insert:

80AD Injunctions if acquisition determinations made on the basis of false or misleading information

If, on the application of the Commission, the Federal Court is satisfied that:

(a) a person is proposing to put an acquisition into effect; and

(b) the Commission made an acquisition determination under paragraph 51ABZE(1)(a) or 51ABZW(1)(a) in respect of a notification of the acquisition on the basis of information that was false or misleading in a material particular; and

(c) the information was material to the Commission making the determination; and

(d) that information was given by:

(i) the person; or

(ii) if the person is a body corporate - a body corporate that was related to the person; and

(e) apart from the determination, putting the acquisition into effect would contravene Subdivision B of Division 1A of Part IV;

then the Court may grant an injunction in such terms as the Court determines to be appropriate.