ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -The ACCC reviews mergers to determine whether they are likely to substantially lessen competition. Our aim is to ensure that markets work well for consumers.

Detailed explanation-2: -Merger authorisation is a formal process Merger authorisation recognises that some mergers may give rise to public benefits that outweigh public harm. Merger authorisation is a formal process under the Competition and Consumer Act 2010. It provides an alternative to the informal merger review process.

Detailed explanation-3: -The Australian Competition and Consumer Commission is an independent Commonwealth statutory authority. We are Australia’s competition and consumer regulator. We promote competition and fair trading and regulate national infrastructure to make markets work for everyone.

Detailed explanation-4: -To stop a merger that we consider is anti-competitive, the ACCC must persuade the Federal Court that the proposed acquisition is likely to have the effect of substantially lessening competition in the future, in breach of section 50 of the Competition and Consumer Act 2010 (the CCA).