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

6   Subsection 4(1)

Insert:

acquisition determination , in respect of a notification of an acquisition, means:

(a) a determination made under subsection 51ABZE(1) in respect of the notification; or

(b) a determination made under subsection 51ABZW(1) in respect of a public benefit application relating to the notification.

acquisitions provision means any of the following provisions:

(a) a provision of Division 1A of Part IV;

(b) a provision of Part IVA;

(c) a provision of Division 1B of Part IX;

(d) another provision of this Act, to the extent that it relates to a provision covered by paragraph (a), (b) or (c).

acquisitions register means the register kept by the Commission under subsection 51ABZZH(1).

business day : in Part IVA, business day has the meaning given by section 51ABK.

Chapter 6 entity has the meaning given by subsection 51ABJ(1).

determination period :

(a) for a notification of an acquisition - has the meaning given by subsection 51ABZI(3); and

(b) for a public benefit application - has the meaning given by subsection 51ABZZ(2).

effective application date , of a public benefit application, has the meaning given by subsection 51ABZP(6), paragraph 51ABZR(1)(a), subsection 51ABZS(5) and paragraph 51ABZT(2)(a).

effective notification date , of a notification of an acquisition, has the meaning given by subsection 51ABW(4), paragraph 51ABZ(1)(a), subsection 51ABZA(5) and subparagraph 51ABZB(2)(a)(i).

finally considered , in relation to a notification of an acquisition, has the meaning given by subsection 51ABF(1).

goodwill protection provision : a provision of a contract is a goodwill protection provision of the contract if:

(a) the contract is for the sale of a business or of shares in the capital of a body corporate carrying on a business; and

(b) the provision is solely for the protection of the purchaser in respect of the goodwill of the business.