Assessment process and review timelines

About the competition assessment

The ��ԭ�� is the first-instance decision maker on each notified acquisition. The Australian Competition Tribunal can review an ��ԭ�� decision following an application by the notifying party or a third party.

Once an acquisition has been notified, we assess whether it would be likely to substantially lessen competition. We must do this within set timelines.

Notified acquisitions will initially be considered in phase 1. Most acquisitions are expected to be approved during this phase.

A small number of acquisitions may require a further, in-depth assessment in phase 2.

Information about notified acquisitions, including written reasons for key decisions, will be made public on the acquisitions register.

The merger assessment guidelines outline the analytical framework we apply when assessing notified acquisitions.

Timelines and key steps

The ��ԭ�� must make its assessment within set timelines.

Text description for merger control regime process and timelines diagram

The diagram details the merger control regime process and timelines.

The first stage of the ��ԭ��’s assessment is referred to as phase 1 and is up to 30 business days, subject to timeline extensions.
The earliest the ��ԭ�� can make an early decision to approve the acquisition is business day 15.
In phase 1, the final date for businesses to offer a remedy is business day 20.
Before the end of phase 1, the ��ԭ�� may determine that the acquisition is approved (with or without conditions) or decide that the notification will be subject to phase 2 for further, in-depth consideration.
Phase 2 is up to 90 additional business days, subject to timeline extensions.
25 business days after the start of phase 2 the ��ԭ�� will issue a Notice of Competition Concerns.
The final date for businesses to respond to the Notice of Competition Concerns is business day 50
In phase 2, the final date for businesses to offer a remedy is business day 60.
In phase 2, businesses cannot provide information to the ��ԭ�� after business day 75.
Before the end of phase 2, the ��ԭ�� may determine that the acquisition is approved (with or without conditions), or not approved.
It is optional for businesses to apply for a public benefit assessment. The public benefit phase is 50 business days, subject to any extensions’
20 business days after the start of the public benefit phase the ��ԭ�� will issue a public benefit assessment.
The final date for businesses to respond to the public benefit assessment is business day 35.
In the public benefit phase, business day 35 is also the final date for businesses to offer a remedy and provide information to the ��ԭ��.
Before the end of the public benefit phase, the ��ԭ�� may determine that the acquisition would be of public benefit (with or without conditions) and is approved, or not grant the public benefit application applied for.
A person dissatisfied with an ��ԭ�� decision to approve the acquisition in phase 1; to approve or not approve in phase 2; or after a public benefit assessment can apply to the Tribunal for a review of the ��ԭ��’s decision.

Phase 1

Notified acquisitions are initially considered in phase 1, which is up to 30 business days unless extended. We expect most acquisitions to be approved within phase 1. The earliest the ��ԭ�� may approve an acquisition is after 15 business days.

If we decide to approve the acquisition, we may approve it outright or may approve it with conditions.

If we consider that the acquisition could be likely to substantially lessen competition, we may decide a further in-depth assessment in phase 2 is required. If this happens, we issue a phase 2 notice explaining the nature of the possible harm to competition and the matters we intend to consider further. The notice will also include information about the fee payable when an assessment moves to phase 2.

Key steps in typical phase 1 assessment

Text description of typical phase 1 assessment diagram

The diagram details the key steps in a typical phase 1 assessment.

The effective notification date is the day the notification is made and the applicable fee is paid. This can be a non-business day.
Business day 1 is the first business day after the effective notification date. The ��ԭ�� publishes details of the notification on the acquisitions register.
Business day 15 is the earliest the ��ԭ�� can approve the acquisition. The ��ԭ�� is required to wait 15 business days to allow time for third parties to comment on the notified acquisition.
Business day 20 is the final day parties to the acquisition can offer a remedy. If parties to the acquisition offer a remedy, the phase 1 timeline may be extended by up to 15 business days.
Business day 30 is the conclusion of phase 1, unless the timeline is extended.

Phase 2

For notified acquisitions that are subject to phase 2, the ��ԭ�� will conduct an in-depth assessment of the acquisition. Only a small number of matters are expected to require a phase 2 assessment. Phase 2 is up to 90 business days, unless extended.

Before the end of phase 2, we will decide to approve, with or without conditions or not approve the acquisition.

Key steps in typical phase 2 assessment

Text description of typical phase 2 assessment diagram

The diagram details the key steps in a typical phase 2 assessment.

Business day 1 is the start of phase 2 and commences immediately after the end of phase 1. If the applicable phase 2 fee is not paid before the deadline, the ��ԭ�� ceases considering the notification. The deadline for the fee is on or before 7 business days after the day the ��ԭ�� advises the notifying party that the notification is subject to phase 2.
By business day 25 the ��ԭ�� issues a notice of competition concerns if ��ԭ�� has not already approved the acquisition by this day.
By business day 50 deadline for parties to the acquisition to respond to Notice of Competition Concerns.
By business day 60 final day for parties to the acquisition to offer a remedy. If parties to the acquisition offer a remedy after day 50, the phase 2 timeline may be extended by up to 15 business days.
Business day 75 is the final day to provide information to the ��ԭ��. Except in limited circumstances, parties to the acquisition and third parties may not provide information or submissions between days 75 and 90 (block out period).
Business day 90 is the conclusion of phase 2, unless the timeline is extended.

When the timelines may change

The timelines may be extended or adjusted in limited circumstances, for example when the notifying party:

offers a commitment or undertaking
requests an extension to the timeline
does not provide information to the ��ԭ�� by the specified date, or
takes longer than 10 days to respond to a compulsory information request.

When an acquisition is approved

When a notified acquisition is approved, the ��ԭ��’s reasons are published on the acquisition register.

There is a 14 calendar days period from the date the reasons are published before the acquisition can proceed. This is to allow for applications to the Tribunal for review.

The acquisition needs to be completed within 12 months of the ��ԭ�� decision to avoid needing to re-notify.

Consideration of public benefits

Businesses may only lodge a public benefit application if the ��ԭ�� has first considered the competitive effects of the notified acquisition and either:

did not approve the acquisition, or
approved the acquisition with conditions.

We assess public benefit applications to determine if the acquisition is:

likely to result in a benefit to the public, and
the benefit would outweigh the detriment to the public that is likely to result.

The ��ԭ�� expects only a very small number of acquisitions to proceed to the public benefits phase.

Timelines and key steps

The public benefit phase is 50 business days, subject to any extensions.

Before the end of the public benefit phase the ��ԭ�� may determine that:

acquisition would be of public benefit (with or without conditions) and may be put into effect, or
not grant the public benefit determination applied for and therefore the relevant phase 1 or phase 2 decision stands.

Key steps in a typical public benefit phase

Text description of typical public benefits phase diagram

The diagram details the key steps in a typical public benefit phase.

The effective application date is the day the application is lodged and the applicable fee is paid. This can be a non-business day.
Business day 1 the ��ԭ�� publishes details of the application on the acquisitions register.
By business day 20 the ��ԭ�� issues a public benefit assessment.
Business day 35 is the final day parties to the acquisition can respond to the public benefit assessment and/or to offer a remedy. If parties to the acquisition offer a remedy by day 35, the public benefit phase may be extended by up to 15 business days.
Business day 50 is the conclusion of the public benefit phase, unless the timeline is extended.

Apply for a public benefit assessment

You should contact the ��ԭ�� team allocated to your notification to discuss making a public benefit application and how to pay the fee.

To make a public benefit application you need to answer the questions required by the form and pay the applicable fee.

Business must lodge a public benefit application within 21 calendar days of the ��ԭ��’s decision.

Public benefit determination application form and guidance ( PDF 204.81 KB )

Fee to apply for a public benefit assessment

The fee to apply for a public benefit assessment is:

$401,000

The lodgement fees are set out in made by a Treasury Minister.

Small businesses may be eligible for a fee exemption.

Tribunal review

Applying for a review of the ��ԭ�� decision

A notifying party dissatisfied with an ��ԭ�� determination may apply to the Australian Competition Tribunal for a review of the decision. The Tribunal may also allow dissatisfied third parties to apply for a review of the ��ԭ��’s determination.

An application for review must be made within 14 calendar days after the ��ԭ��’s reasons for the decision are published on the acquisitions register.

The Tribunal may affirm, set aside or vary the ��ԭ��’s decision.

The Tribunal’s review is based on the information that was before the ��ԭ��. However, the Tribunal may take other information into account in some circumstances.

Checking if an application has been made for Tribunal review

The Tribunal will publish applications for review on its website under ’current matters‘. Interested parties can check the for a list of current applications.

When the ��ԭ�� becomes aware of an application to the Tribunal for review we will let the notifying party know (if they are not the applicant for review).

You can contact the Tribunal registry directly if you are seeking to confirm whether:

an application for review of an ��ԭ�� decision has been made
acquisition determination where the matter is not listed on the Tribunal’s website.

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