Originally published in Blakes Bulletin on Competition,
Antitrust & Foreign Investment, February 2010
On February 2, 2010, the proposed Regulations Amending the Notifiable
) (the Regulations) came into force. The most significant change in
the new Regulations is the imposition of more onerous document
production requirements on merging parties. In particular, pursuant
to Section 114(1) of the Competition Act, merging parties
must now supply the following information to the Commissioner of
Competition as part of the merger review process:
all documents evaluating the proposed transaction with respect
to market shares, competition, competitors, markets, potential for
sales growth or expansion into new product or geographic regions.
In the United States these are called "4c
a copy of each legal document (the most recent draft if not yet
executed) that is to be used to implement the proposed
a list of the foreign competition or antitrust authorities that
have been notified of the proposed transaction by the parties and
the date on which each authority was notified; and
the total annual volume or dollar value of purchases from and
sales to all suppliers and customers for each principal category of
The above information, along with the additional information
that always has been required in a short-form notification (e.g.,
customer and supplier information, description of the principal
categories of products and geographic areas of sale, etc.), must be
filed by both parties (other than in the context of a hostile bid
where special rules may apply) to a transaction in order for the
initial 30-day waiting period to begin.
The primary impetus behind these amendments is to bring the
Canadian merger review process under the Competition Act
more in line with that of the United States.
The Regulations will be published in the Canada Gazette Part II
on February 17, 2010.
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