CCP launches online pre-merger application filing system
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>