Singapore legislation
Section 58
Section 58
Notification of merger
(1)
A party involved in a merger which applies for the merger to be considered under this section must —
notify the Commission of the merger; and
apply to it for a decision.
(2)
Subject to subsections (3) and (5) and sections 60A(1) and 60B(1), on an application under this section, the Commission may make a decision as to —
whether the section 54 prohibition has been infringed; and
if it has not been infringed, whether that is —
because of the effect of an exclusion;
because the merger is exempted from the prohibition under subsection (3); or
because a commitment has been accepted pursuant to section 60A(1).
(3)
Where the Commission proposes to make a decision that the section 54 prohibition has been infringed, the Commission must give written notice to —
the party who applied for a decision on the merger; or
in a case where section 57(9) applies, the party who applied for a decision on the anticipated merger (which was carried into effect) or, where that party no longer exists, the merged entity,and the party or merged entity so notified by the Commission may, within 14 days of the date of the notice, apply to the Minister for the merger to be exempted from the section 54 prohibition on the ground of any public interest consideration.
(4)
The decision of the Minister made under subsection (3) is final.
(5)
Where the Minister exempts a merger under subsection (3), the Commission may make a decision under subsection (2)(b)(ii).
(6)
The Minister may revoke the exemption of a merger granted under subsection (3) if the Minister has reasonable grounds for suspecting that the information on which the Minister based his or her decision was incomplete, false or misleading in a material particular.
(7)
A reference in any provision of this Act to an application or a notification under section 58 includes a reference to an application or a notification under section 57 that the Commission treats as an application or a notification under section 58 pursuant to section 57(9).