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ARTICLE · 04 AUGUST 2023

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Update: Screening Of Third Country Transactions Bill

William Fry LLP
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It is anticipated that the Screening of Third Countries Transactions Bill 2022 (Bill) will be enacted shortly, but at the time of writing, it is not clear when it will be commenced.

IrelandAntitrust/Competition Law
Cormac Little SC
Cormac Little SC
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It is anticipated that the Screening of Third Countries Transactions Bill 2022 (Bill) will be enacted shortly, but at the time of writing, it is not clear when it will be commenced.

Once commenced, the Bill will provide for the screening of transactions completed after the commencement date, as well as providing a "look-back" review mechanism for transactions entered into prior to commencement.

The Bill underwent Committee Stage in January 2023 before the Dail Select Committee on Enterprise, Trade and Employment, where a number of amendments were proposed and passed. These amendments included revisions to the definitions of "transaction" and "control", and also clarified when the 90-day screening period shall commence.

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