2 results
Singapore
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- By Kala Anandarajah, Rajah & Tann LLP, Singapore, Dominique Lombardi, Rajah & Tann LLP, Singapore
- General editor Maher M. Dabbah, Queen Mary University of London, Paul Lasok QC
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- Book:
- Merger Control Worldwide
- Published online:
- 05 November 2014
- Print publication:
- 31 May 2012, pp 1204-1221
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- Chapter
- Export citation
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Summary
The merger provisions in the Singapore Competition Act (Cap 50B) (‘the Act’) came into force on 1 July 2007 and only apply to mergers implemented after 1 July 2007. Under these provisions, mergers that may result in a substantial lessening of competition within any market in Singapore are prohibited.
The merger regime, which is administered by the Competition Commission of Singapore (CCS), provides for a voluntary rather than a mandatory notification process. However, notification of a merger to the CCS is possible and is even recommended when the market share of the merged entity meets an indicative threshold, as this will suggest that the merger is likely to result in a substantial lessening of competition (SLC).
From the merger regime’s coming into force on 1 July 2007 to the end of 2009, 15 mergers had been notiied to the CCS. All these mergers but one have been declared as not infringing the merger prohibition in the Act.
This chapter provides an overview of the operation of the merger provisions in Singapore. It does not discuss the provisions of the Takeover Code, which typically applies to all mergers and acquisitions.
23 - Singapore
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- By Kala Anandarajah, Partner, Dominique Lombardi, Foreign Lawyer Rajah & Tann
- General editor Maher M. Dabbah, Queen Mary University of London, K. P. E. Lasok QC
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- Book:
- Merger Control Worldwide
- Published online:
- 30 July 2009
- Print publication:
- 29 May 2008, pp 114-128
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- Chapter
- Export citation
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Summary
The Singapore Competition Act (Cap. 50B) (the “Act”) was passed into law in October 2004. The Act has been brought into force in phases. In phase 1, the provisions establishing the Competition Commission of Singapore (the “CCS”) and the Competition Appeal Board first came into force, respectively on 1 January 2005 and on 1 September 2005. In phase 2, the provisions relating to anti-competitive agreements (the section 34 prohibition) and abuse of dominance (the section 47 prohibition) came into force on 1 January 2006. The merger provisions, which are also regulated by the Act, were brought into force as part of phase 3 of the implementation of the Act.
The Merger control regime of Singapore applies only to mergers that have occurred after 1 July 2007, i.e. where control has not passed or was not acquired or transferred before 1 July 2007. However, it is important to note that where the documentation in relation to the merger has been executed before 1 July 2007 but control has not passed before 1 July 2007, the merger would still be reviewed under the regime.
Although the notification of a merger is not compulsory under the Act, the CCS encourages merger parties to notify their merger situation when an indicative threshold is met, as this will suggest that the merger is likely to result in a substantial lessening of competition (SLC).
This chapter provides an overview of the operation of the merger provisions in Singapore.