The Competition Commission of Pakistan (CCP) has decided to introduce an online system for the submission of pre-merger applications by the companies. Sources told Business Recorder on Wednesday, the CCP had introduced the facility for the undertakings to expedite processing of applications on mergers.
The pre-merger application, being submitted electronically, would be considered as a legal document for initiation of hearing by the commission. Under the procedure, the applicant undertaking/undertakings can submit pre-merger application, along with a scanned copy of a bank draft on account of fee, online to the commission through email: [email protected], which will be treated as an advance copy or advance intimation.
On receipt of the same the commission would start preliminary examination of the application. The case will, however, be finally disposed of and an order issued in the matter, following the receipt of the hard copy of the pre-merger application along with supporting documents and a bank draft/pay order on account of fee as prescribed in regulation 5 of the Competition (Merger Control) regulations, 2007.
Therefore, the applicant undertaking/undertakings, while submitting their application online, would ensure the commission that it is an advance intimation of merger/acquisition of shares concerned and the hard copy of the application and the relevant documents (as highlighted in the pre-merger application form) along with the bank draft would follow the procedure.
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