Complying with Competition Law Page 12

Complying with Competition Law

Mergers and acquisitions

Mergers over a certain financial threshold must be notified
to the Competition Authority. We have the power to block a
merger if we think it will substantially reduce competition. This
is likely to be the case if the merged entity's market position
would enable it to raise prices after the merger. We also have
the power to challenge anti-competitive mergers that have not
been notified to the Authority.

Checklist of key items relating to mergers and acquisitions

Be aware of what generally constitutes a merger or

acquisition

Be aware of the obligation to notify mergers and

acquisitions above certain thresholds

Carefully consider whether a merger below the thresholds

might need to be notified

Seek legal advice or contact the Competition Authority if

you are in doubt about whether a joint venture, merger or
acquisition should be notified to the Competition Authority

Do not `gun jump' i.e. complete the deal in any way

before the Competition Authority has approved it, where
approval is needed

Be careful about any exchange of information between the

merging firms before the deal has been completed if they
are your competitors, they will still be your competitors if
the deal does not go ahead

Our investigative powers

Under the Competition Act 2002, the Authority has the following
powers of investigation:

power to enter and search: authorised officers may enter
and search a business premises or home with a valid
warrant issued by the District Court

power to seize documents and records: authorised officers
can seize documents or records, including computer
hard-drives, laptops and mobile phones with a valid
warrant issued by the District Court

power to summon witnesses: we can summon witnesses to
be questioned under oath. Witnesses have the same
immunities and privileges as a witness before the High
Court. Failure to appear before the Competition Authority
on foot of a witness summons is a criminal offence

power to demand records and information from third
parties: we have the power to require witnesses and third
parties, such as telephone companies and financial
institutions, on foot of a witness summons, to produce
records and information.

We are also responsible for enforcing European Union
competition law in Ireland. We have a duty to actively assist
the European Commission in carrying out inspections in Ireland,
or to carry out inspections on behalf of the Commission, if
we are requested to do so. We can also use our investiga-
tive powers referred to above, to assist National Competition
Agencies of other Member States with inspections in the State,
or on our own initiative, to investigate alleged infringements of
European Union competition law in Ireland.