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Law Council of Australia

Business Law Section

Response to Competition Review Merger Reform Consultation Paper

The Competition and Consumer Committee (the Committee) of the Business Law Section of the Law Council of Australia welcomes the opportunity to participate in the consultation being undertaken by the Competition Review (Taskforce) into Australia’s merger review processes.The Committee is also grateful for the opportunities that have been provided to members of the Committee to meet with the Taskforce directly to discuss the Taskforce consultation paper.

The submission focuses on three distinct aspects of the Taskforce consultation paper which the Committee considers most significant:

While such improvements can (and should) be made, the Committee considers that the current model has proven over several decades to largely “strike the right balance”. Our merger clearance model supports flexible, robust and timely deal-making in Australia and has contributed to our economy remaining attractive to global capital. The Committee remains doubtful that the case has been made to shift the merger regime radically away from this approach to greater regulatory discretion and substantially reduced independent oversight—a shift that risks doing materially more harm than good.

Read the full submission below.


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