Section 51ABQ — Competition and Consumer Act 2010: Classes of acquisitions that are required to be notified

(1) The Minister may, by legislative instrument, determine a class of acquisitions for the purposes of subparagraph 51ABO(b)(ii). (2) Without limiting subsection (1) of this section, the Minister may determine a class of acquisitions under that subsection wholly or partly by reference to: (a) a party, or a class of parties, to an acquisition or to a contract, arrangement or understanding; or (b) an asset or a class of assets; or (c) a business or a class of businesses; or (d) a market or a class of markets; or (e) an industry or a class of industries; or (f) another acquisition, or a class of acquisitions. (3) In making an instrument under subsection (1), the Minister must consider all of the following: (a) the likely effect of making the instrument on: (i) the interests of consumers; and (ii) promoting competition; and (iii) the public interest; (b) the likely regulatory impact of requiring the class of acquisitions to which the determination relates to be notified; (c) any other matters the Minister considers relevant. (4) In making an instrument under subsection (1) of this section, the Minister may consider any reports or advice of the Commission (including any reports given under subparagraph 51ABR(2)(a)(ii)). Note: For consultation requirements, see section 17 of the Legislation Act 2003. (5) An instrument made under subsection (1) must not be expressed to commence earlier than the 30th day after the instrument is registered under the Legislation Act 2003. (6) This subsection repeals an instrument made under subsection (1) on the fifth anniversary of the registration of the instrument under the Legislation Act 2003, unless the instrument is repealed earlier. (7) To avoid doubt, an instrument made under subsection (1) does not affect the meaning of substantially lessening competition.