Trade Practices (Transfer of Market Dominance) Amendment Act 1986 (Cth)

Trade Practices (Transfer of Market Dominance) Amendment Act 1986

No. 8 of 1986

 

An Act to ensure that section 50 of the Trade Practices Act 1974 does not apply to certain acquisitions

[Assented to 1 May 1986]

BE IT ENACTED by the Queen, and the Senate and the House of Representatives of the Commonwealth of Australia, as follows:

Short title, &c.

1. (1) This Act may be cited as the Trade Practices (Transfer of Market Dominance) Amendment Act 1986.

(2) The Trade Practices Act 19741is in this Act referred to as the Principal Act.

Commencement

2. This Act shall come into operation on a day to be fixed by Proclamation.

 

Mergers and other acquisitions

3. Section 50 of the Principal Act is amended by inserting before sub-section (3) the following sub-section:

“(2c) This section does not apply to the acquisition by a person of any shares in the capital, or any assets, of a body corporate where—

(a) before the acquisition, the body corporate was in a position to dominate a market for goods or services; and

(b) as a result of the acquisition, the person is not, and is not likely to be, in a stronger position to dominate that market.”.

NOTE

1. No. 51, 1974, as amended. For previous amendments, see Nos. 56 and 63, 1975; Nos. 88 and 157, 1976; Nos. 81, 111 and 151, 1977; Nos. 206 and 207, 1978; No. 73, 1980; Nos. 61 and 176, 1981; No. 80, 1982; No. 39, 1983; Nos. 63, 73 and 165, 1984; and No. 65, 1985.

[Minister’s second reading speech made in—

House of Representatives on 19 March 1986

Senate on 9 April 1986