Creeping Acquisitions - The Way Forward

Date:

Content ID:

Abstract:

The Assistant Treasurer and Minister for Competition Policy and Consumer Affairs, Chris Bowen MP, has released a discussion paper on creeping acquisitions.

This paper continues the consultation process initiated by the Government with the release of the first discussion paper on 1 September 2008. The purpose of the second discussion paper is to explore further the options for a proposed way forward in relation to creeping acquisitions, taking into account the views presented in submissions to the first paper.

The Government considers reform in relation to creeping acquisitions as an election commitment, but wishes to ensure it gets the balance right.

The term creeping acquisitions refers to the acquisition of a number of individual assets or businesses over time that may collectively raise competition concerns, but which individually are unlikely to contravene section 50 of the Trade Practices Act 1974.

Interested parties are invited to submit comments on the implementation of a creeping acquisitions law, or any other matter in relation to the issue of creeping acquisitions.

Submissions

While submissions may be lodged electronically or by post, electronic lodgement is preferred. For accessibility reasons, please email responses in a Word or RTF format. An additional PDF version may also be submitted.

All information (including name and address details) contained in submissions will be made available to the public on the Treasury website unless you indicate that you would like all or part of your submission to remain in confidence. Automatically generated confidentiality statements in emails do not suffice for this purpose. Respondents who would like part of their submission to remain in confidence should provide this information marked as such in a separate attachment. A request made under the Freedom of Information Act 1982 (Commonwealth) for a submission marked 'confidential' to be made available will be determined in accordance with that Act.

Closing date for submissions: The closing date for submissions has been extended by four weeks, to 10 July 2009

Address written submissions to:
The General Manager
Competition and Consumer Policy Division
The Treasury
Langton Crescent
PARKES  ACT  2600

Fax: (02) 6263 3964.

Email: creepingacquisitions@treasury.gov.au

For enquiries, please call Tim Clausen (02) 6263 2987

Documents Available:

 Acrobat (PDF)

 Microsoft Word (RTF)

Related Items: