(1) |
The Minister, in consultation with the Competition Commission, must determine— |
(a) |
a lower and a higher threshold of combined annual turnover or assets, or a lower and a higher threshold of combinations of turnover and assets, in the Republic, in general or in relation to specific industries, for purposes of determining categories of mergers contemplated in subsection (5): and |
(b) |
a method for the calculation of annual turnover or assets to be applied in relation to each of those thresholds. |
(2) |
The Minister may make a new determination in terms of subsection (1) in consultation with the Competition Commission. |
(3) |
Before making a determination contemplated in this section, the Minister, in consultation with the Competition Commission, must publish in the Gazette a notice— |
(a) |
setting out the proposed threshold and method of calculation for purposes of this section; and |
(b) |
inviting written submissions on that proposal. |
(4) |
Within six months after publishing a notice in terms of subsection (3), the Minister, in consultation with the Competition Commission, must publish in the Gazette a notice— |
(a) |
setting out the new threshold and method of calculation for purposes of this section; and |
(b) |
the effective date of that threshold. |
(5) |
For purposes of this Chapter— |
(a) |
‘a small merger’ means a merger or proposed merger with a value at or below the lower threshold established in terms of subsection (1)(a); |
(b) |
‘an intermediate merger’ means a merger or proposed merger with a value between the lower and higher thresholds established in terms of subsection (1 )(a): and |
(c) |
‘a large merger’ means a merger or proposed merger with a value at or above the higher threshold established in terms of subsection (1)(a). |
[Section 11 substituted by section 6 of Notice No. 1354, GG 21880, dated 13 December 2000]