Merger Control In PNG: New Mandatory Notification Requirements

PNG has introduced new merger control rules. PNG's competition regulator, the Independent Consumer and Competition Commission (ICCC), must now be notified of a merger or acquisition, in advance, if certain thresholds are met.

This is a significant change to the former voluntary notification regime.

Overview

Last week, the Independent Consumer and Competition (Amendment) Bill 2018 (Bill) was passed by the Parliament of Papua New Guinea, introducing mandatory pre-merger notification requirements if:

• the transaction value of the proposed acquisition exceeds PGK 50 million; or
• the proposed acquisition is likely to result in a market share increase of 50 percent or more of the acquirer.