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

Schedule 1   Acquisitions

Part 2   Amendments commencing 1 July 2025

Division 2   Other amendments

Corporations Act 2001

85   At the end of section 839J

Add:

Competition and Consumer Act 2010

(4) Subject to paragraph (5)(b), nothing in this Division limits the operation of any of the provisions of the Competition and Consumer Act 2010.

(5) For the purposes of section 50 and related provisions of the Competition and Consumer Act 2010, and the acquisitions provisions (within the meaning of that Act):

(a) a transfer of shares or business that takes effect under this Division is taken to be:

(i) to the extent that the transfer is of shares in the capital of a body corporate - an acquisition of the shares by the receiving body; and

(ii) to the extent that the transfer is of other assets - an acquisition of those assets by the receiving body; and

(b) the acquisition is not required to be notified under Division 2 of Part IVA of the Competition and Consumer Act 2010.

Note: For the purposes of the acquisitions provisions, the receiving body is the principal party to the acquisition.

(6) For the purposes of subsection 51(1) of the Competition and Consumer Act 2010, the following things are specified and specifically authorised:

(a) a transfer of shares or business under this Division;

(b) anything done to enable or facilitate a transfer of shares or business under this Division (including an agreement referred to in section 837D).