s 151M

Renewal of functional separation undertaking

In force

(1)

If:

(a)

a standard functional separation undertaking (the existing undertaking) given by a person is in force; and

(b)

at least 12 months before the expiry of the existing undertaking, the person gives the ACCC another standard functional separation undertaking;

the other undertaking may be expressed to be given by way of renewal of the existing undertaking.

Note:

For acceptance or rejection of the other undertaking, see section 151F.

(2)

If:

(a)

a joint functional separation undertaking (the existing undertaking) given by 2 or more persons is in force; and

(b)

at least 12 months before the expiry of the existing undertaking, those persons give another joint functional separation undertaking to the ACCC;

the other undertaking may be expressed to be given by way of renewal of the existing undertaking.

Note 1:

For acceptance or rejection of the other undertaking, see section 151F.

Note 2:

For consultation on a decision to accept or reject the other undertaking, see section 151G.

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