New rules on the handling of merger cases

The Competition Authority is now publishing revised rules on notification and procedure in merger cases for consultation. The new rules are based to a large extent on applicable rules from 2008, as amended. The amendments now being made are principally of two kinds:

1. Formalities are procedural changes in the handling of merger cases aimed at increased efficiency, but the supervisory authority has previously sought consultation on this and held meeting in the 'Conversation on Competition' series of meetings, where useful discussions were held about the experience.
2. The rules are updated in light of changes to competition law which came into force on 23 July this year.

Specifically, the following are the main changes contained in the draft:

• In line with changes to competition law, the turnover thresholds for merger notifications are being updated and broader
  Authorisation to submit a shorter notification for mergers and updates
  Provisions on time limits for merger investigations. The provisions on merger fees are also revised and brought into line with new legislation. 

• Improved
  is with regard to the provision on the right to communicate with merger parties in the run-up
  Notifications of mergers for pre-notification talks. The provision formalises such communication, with the aim that this preparation leads to a faster and even more thorough handling of merger cases.

• Improved
  is with regard to the provision for summoning the merger parties to a shareholders' meeting there.
  which the Competition Authority informs the merger parties of the status of the investigation on
  at the relevant stage (a State of play meeting). The purpose of such status meetings is to promote more transparent, thorough and efficient decision-making in merger matters.

• Improved
  regarding provisions on conciliation talks with the Competition Authority concerning mergers.
  The purpose of the provision is to establish a clearer framework for such discussions.
  to ensure both efficiency and the rights of the parties in such discussions.
  The provision deals with the rights and requirements that must be made to
  of companies that request conciliation talks and a deadline by which proposals for conditions must be submitted.

• Finally, the drafts contain various minor changes, for example, it is stipulated that a merger notification and supporting documents must also be submitted in an electronically readable format, and the possibility of publishing merger filings publicly during merger investigations is explicitly provided for.   

That
Comments are requested on the attached draft rules on notification and
Proceedings in merger cases should be sent by post or to the email address. samkeppni@samkeppni.is no later than 5 December.

At the same time
The Competition Authority intends to convene an open remote meeting (Dialogue on
competition) where interested parties have the opportunity to take part in discussions
about the guidelines and listen to viewpoints. The webinar will be presented.
More details later.

Draft new rules on notification and procedure in merger cases.