The business community is being asked for input on a set of process guidelines the Commerce Commission plans to publish, giving guidance to businesses seeking clearance for a merger or acquisition.

Section 47 of the Commerce Act prohibits the acquisition of assets of a business or shares if that acquisition would have, or would be likely to have, the effect of substantially lessening competition in a market. The merger and acquisition clearance regime administered by the Commission is voluntary.  Section 66 provides that those proposing to undertake an acquisition may seek clearance from the Commission for the transaction.

The Commission is inviting submissions on a draft set of process guidelines and revised application form for businesses seeking clearance.

Submissions can be made in writing to:

Mergers and acquisitions clearance process feedback
Commerce Commission
PO Box 2351
Wellington, 6140

or by email to magfeedback@comcom.govt.nz by 5pm Friday 01 August 2008.