Commission releases policy documents

THE Independent Consumer and Competition Commission (ICCC) has released its three policy documents: the Business Acquisition Review Guidelines; the Leniency Policy and the Confidentiality Guidelines for use by stakeholders and the public.
According to ICCC, the business acquisition review guidelines was intended to explain the processes of clearance and authorisation under the ICCC Act 2002.
This guideline explains the legal requirements under the ICCC Act in terms of when to apply for a clearance or authorisation, the thresholds for mandatory notification, whether the ICCC would have issues with a transaction which may not meet the notification thresholds and therefore raise competition concerns.
It also sets out the processes that the ICCC is required to follow when assessing and determining an application for clearance or authorisation.
Commissioner and chief executive officer Paulus Ain said it was an important and informative document for businesses to appraise themselves about the prohibitions on anti-competitive business acquisitions under the ICCC Act.