Exposure Draft Released for Merger Reform Notification Thresholds Instrument Submission

the business community throughout this consultation process. The collaboration with our members, who share their expertise and practical experience with us, guides our submissions and recommendations.

Throughout the consultation process on merger reform, the BCA has consistently emphasized the need to provide the ACCC with increased insight into mergers and acquisitions. This visibility is crucial for enabling the ACCC to effectively examine potential competition issues that may arise. We appreciate the proactive approach taken by both the Treasury and the ACCC in engaging with the business sector to ensure that these reforms strike a balance between policy objectives and efficient implementation.

Acknowledging the enactment of the Treasury Laws Amendment (Mergers and Acquisitions Reform) Act 2024, it is clear that the current consultation focuses on the specific details of the legislative instruments essential for supporting the reforms, rather than revisiting the broader reform policy. As such, our submission addresses key concerns and issues within the exposure draft of the Notification of Acquisitions.

The success of these merger reforms hinges on their design and effective implementation to prevent any adverse effects on economic growth, market competitiveness, and the potential for innovation and investment. These regulations must align with the reform’s objectives and establish a functional framework that promotes confidence in investing in Australia while safeguarding competition. A well-executed regime will boost confidence in investing in Australia, whereas a poorly functioning one could lead to increased regulatory burdens and hinder economic growth.

In light of these considerations, we propose amendments to the exposure draft to better reflect commercial realities, align with international standards, and adopt a risk-based approach. These adjustments are crucial for simplifying the regulations, enhancing their clarity and consistency, and enabling the ACCC to focus on transactions that present higher competition risks rather than on low-risk ones.

Our submission exclusively addresses the exposure draft published on 28 March 2025, highlighting significant gaps within the document, such as sections related to waiver applications, waiver determination, contents of the register, the public benefit form, and tribunal review. By addressing these shortcomings and incorporating our recommendations, we aim to assist in the seamless implementation of these reforms and ensure their effectiveness in strengthening Australia’s merger control regime.