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Press Center Chinese Antimonoply Law | Chinese Antimonoply Law |
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| Written by Lynn Sum | |||||||||||
| 2008-08-01 | |||||||||||
Page 6 of 9
Article 22: A concentration refers to following situations, shall not notify to the antimonopoly execution authorities: (i) one undertaking which is a party to the concentration has the power to exercise more than half the voting rights of every other undertaking, whether of the equity or the asset; (ii) one undertaking which is not a party to the concentration has the power to exercise more than half the voting rights of every undertaking concerned, whether of the equity or the asset; Article 23: Undertakings which notify a concentration in advance with the antimonopoly execution authorities, shall submit following documents or materials: (i) summary of notification; (ii) the effect on competition on the relevant market of the concentration; (iii) agreement of concentration; (iv) the financial reports and accounting reports of the proceeding accounting year of the undertakings concerned; (v) other documents or materials stipulated by antimonopoly execution authorities. The summary of notification shall record, name, residence, scope of business, expected date for concentrating and other items stipulated by antimonopoly execution authorities of the undertakings concerned. Article 24: In case that the documents submitted by the notifying undertakings are not complete, shall submit the rest of the documents and materials with a set period stipulated by antimonopoly execution authorities. It will be taken as not notified, when the added documents and materials are not timely submitted. Article 25: The antimonopoly execution authorities shall preliminarily review the notified concentration and take the decisions whether to precede review and notify the undertakings in written form within 30 days, calculated from the date of receipt of the complete filing documents and materials referred to article 23 submitted by the undertakings. Before a decision taken by the antimonopoly execution authorities, the concentration shall be not implemented. If the antimonopoly execution authorities has taken decision not to precede review or has not decided in case of expiring of the period, the concentration shall be implemented. Article 26: If the antimonopoly execution authorities has decided to precede the review, shall review and decide whether to prohibit the concentration and notify the undertakings in written form within 90 days, calculated form the date of the decision being taken. If the concentration is prohibited, the reasons shall be explained. Within the review period the concentration shall be not implemented. Under the following circumstances, the time limit stipulated in the first paragraph may be extended to add 60 days after notifying the undertakings in written form: (i) the undertakings concerned agree to extend the time limit; (ii) the documents or materials submitted are inaccurate and need verification; (iii) other significant events occurred after notification. If the antimonopoly execution authorities have not decided in case of expiring of the period, the concentration shall be implemented. Article 27: In the review of a concentration the following factors shall be considered: (i) market share in the relevant market of the undertakings concerned and their ability to control the market; (ii) concentrate degree of the relevant market ; (iii) effect on the market entry and technology improvement; (iv) effect on consumers and other undertakings; (v) effect on national economical improvement (vi) other factors shall affect the competition, be considered by the antimonopoly execution authorities. |
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| Last Updated ( 2008-08-02 ) | |||||||||||
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