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Competition Act, 1998 (Act No. 89 of 1998)

Competition Commission Rules

Part 6 - Merger Procedures

35. Revocation of approval of intermediate merger

 

1) If the Commission is contemplating revoking its own decision to approve or conditionally approve a merger in terms of section 14(5), the Commission must—
a) if the proposed revocation is based on section 14(5)(c), comply with Rule 34 before taking any further steps in terms of this Rule; and
b) in any case—
i) advise any firm concerned, in writing, of the intention to do so; and
ii) publish a notice of the proposed revocation in the Gazette.

 

2) The Commission may request further information from any person who submits a representation in response to a notice published in terms of sub-rule (1)(b).

 

3) After considering any submissions or other information received in relation to the proposed revocation, the Commission must—
a) either confirm the approval or conditional approval, as the case may be, in writing, or revoke it by issuing a Notice of Revocation of Merger Decision in Form CC 18 to the primary acquiring firm concerned;
b) publish a notice of that decision in the Gazette; and
c) report its decision in writing to each participant in the merger proceedings.

 

4) Within 10 days after receiving a Notice of Revocation of Merger Decision in terms of sub-rule (3), the firm concerned may request the Competition Tribunal to review the notice on the grounds that there is no factual basis in terms of section 14(5) for the approval or conditional approval to be revoked.

 

5) If no review is applied for in terms of sub-rule (4), or if the Competition Tribunal upholds the Notice of Revocation of Merger Decision, the effect of that notice is—
a) the Certificate of approval or conditional approval in respect of the relevant merger is deemed to have been rejected as of the date of that Certificate;
b) each party to the merger is, for all purposes of the Act, in the same position as if they had never notified the Commission of that merger; and
c) the Commission may further consider that merger only if a party to the merger subsequently files a new Merger Notice with respect to it; and
d) if a new Merger Notice is subsequently filed in respect of that merger, the Commission must consider that merger on the basis of that new notice without reference to any previous notice filed in respect of it.