ACCC Testimony on Merger Reform and Competitive Economy

Gina Cass-Gottlieb, ACCC Chair, testified about new merger laws, stressing the need to prevent anti-competitive mergers. The reform aims to create a more competitive economy by protecting small businesses and designating sectors with lower thresholds for mandatory notification. The ACCC will conduct faster, more transparent merger reviews, focusing on high-risk transactions while minimising regulatory burden. The reforms will provide certainty for businesses, with 80% of transactions expected to be decided within 15-20 business days. The ACCC is preparing for the changes, having issued implementation goals and planning to release draft consultations. The community, large and small businesses will have opportunities to comment on the reforms. The ACCC will also increase its use of data analysis in the merger process, working with the Treasury to examine industry concentration.