CCP launches on­line pre-merger ap­pli­ca­tion fil­ing sys­tem

Enterprise - - National news -

The Com­pe­ti­tion Com­mis­sion of Pak­istan (CCP) launched an on­line merger fil­ing sys­tem to fa­cil­i­tate the stake­hold­ers in sub­mit­ting their pre-merger ap­pli­ca­tions with CCP in elec­tronic form, a state­ment said.

“The on­line merger fil­ing sys­tem has been launched as part of an ini­tia­tive un­der­taken by the Com­pe­ti­tion Com­mis­sion of Pak­istan to au­to­mate its sys­tems and pro­ce­dures as a step to­wards cre­at­ing a less pa­per en­vi­ron­ment,” it added. “Un­der­tak­ings can now sub­mit pre­merger ap­pli­ca­tions on­line as well as in print form.”

The state­ment said un­der sec­tion 11 of the Com­pe­ti­tion Act, 2010, the un­der­tak­ings in­tend­ing to ac­quire the shares or as­sets of an­other un­der­tak­ing, or two or more un­der­tak­ings in­tend­ing to merge and meet the pre-merger no­ti­fi­ca­tion thresh­olds stip­u­lated in the merger reg­u­la­tions, have to ap­ply for clear­ance from the Com­pe­ti­tion Com­mis­sion of Pak­istan.

“The CCP’s Merg­ers C Ac­qui­si­tions Depart­ment pro­cesses the pre-merger ap­pli­ca­tion in light of the law and the com­mis­sion is­sues the ap­proval in the form of an or­der within thirty days af­ter re­ceiv­ing a com­plete pre-merger ap­pli­ca­tion,” it said.

In case of the phase-II re­view, the pre-merger ap­pli­ca­tion is pro­cessed and or­der is is­sued by the Com­pe­ti­tion Com­mis­sion of Pak­istan within ninety days.

The state­ment said the on­line merger fil­ing sys­tem helps all un­der­tak­ings to sub­mit the re­quired doc­u­ments elec­tron­i­cally us­ing a pre-de­fined for­mat through an on­line soft­ware ap­pli­ca­tion that has been pro­vided by the Com­pe­ti­tion Com­mis­sion of Pak­istan.

Through the new sys­tem, an un­der­tak­ing can file com­plete pre-merger ap­pli­ca­tion on­line and with­out any has­sle.

“To en­sure safety of the doc­u­men­ta­tion, the sys­tem uses se­cure cer­tifi­cates to en­sure that all com­mu­ni­ca­tions be­tween the Com­pe­ti­tion Com­mis­sion of Pak­istan and the con­cerned un­der­tak­ing is con­fi­den­tial.”

The on­line merger fil­ing sys­tem not only aids to ex­pe­dite the ap­pli­ca­tion process, but the un­der­tak­ings can also eas­ily trace the sta­tus of their ap­pli­ca­tions on­line.

The pre-merger ap­pli­ca­tions can now also be sub­mit­ted with the Com­pe­ti­tion Com­mis­sion of Pak­istan on­line at www. cc.gov.pk YhttpWLLwww.cc.gov.pk>

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.