Competition and Consumer Act 2010

The Commission must give the notifying party of a notification of an acquisition a written notice (a public benefit assessment) in accordance with subsections (2) and (3) if a public benefit application in relation to the notification has an effective application date.

The public benefit assessment must set out:

the Commission’s preliminary assessment of the benefits and detriments to the public that the Commission has identified could result, or be likely to result, from the acquisition, including an assessment of the significance of those benefits and detriments; and

the grounds on which the Commission makes the assessment, referring to the evidence or other material on which those grounds are based.

The Commission must give the public benefit assessment:

no later than the 20th business day after the effective application date of the application; or

if it is not practicable to give the public benefit assessment by that day—as soon as practicable after that 20th business day.

If the Commission does not give the public benefit assessment before the end of the 20th business day mentioned in paragraph (3)(a), the following paragraphs apply in relation to making a determination under subsection 51ABZW(1) in respect of the public benefit application:

if the notifying party of the notification of the acquisition agrees in writing to this paragraph applying in relation to the application—the determination period for the application is extended by the number of business days to which subsection (5) of this section applies (not including a day occurring on or after the day, if any, on which the notifying party withdraws its agreement);

in any case (but subject to subsection (6) of this section)—the 15 business days mentioned in subsections 51ABZZD(3) and (5) are reduced by the number of business days to which subsection (5) of this section applies;

in any case—the period mentioned in paragraph 51ABZZE(3)(c) is extended by the number of business days to which subsection (5) of this section applies.

This subsection applies to a business day if:

the day occurs after the 20th business day after the effective application date of the application; and

the Commission does not give the public benefit assessment on or before the day.

If the reduction under paragraph (4)(b) would be of more than 15 business days, subsections 51ABZZD(3) and (5) do not apply in relation to making the determination.