ISLAMABAD ( BMZ REPORT )
The Competition Commission of Pakistan (CCP) has launched an Online Merger Filing System to facilitate the stakeholders in submitting pre-merger applications with CCP in electronic form.
The online merger filing system has been launched as part of an initiative undertaken by CCP to automate its systems and procedures as a step towards creating a ‘less paper’ environment. Undertakings can now submit pre-merger applications online as well as in print form.
Under Section 11 of the Competition Act, 2010, the undertakings intending to acquire the shares or assets of another undertaking, or two or more undertakings intending to merge and meet the pre-merger notification thresholds stipulated in the Merger Regulations, have to apply for clearance from CCP. The CCP’s Mergers & Acquisitions Department processes the pre-merger application in light of the law and the Commission issues the approval in the form of an order within thirty days after receiving a complete pre-merger application. In case of the Phase-II review, the pre-merger application is processed and order is issued by the CCP within ninety days.
The online merger filing system helps all undertakings to submit the required documents electronically using a pre-defined format through an online software application provided by CCP. Through this system, an undertaking can file complete pre-merger application online and without any hassle.
In order to ensure safety of the documentation, the system uses secure certificates to ensure that all communications between CCP and the concerned undertaking is confidential.
This online merger filing system not only aids to expedite the application process, but the undertakings can also easily trace the status of their applications online. The pre-merger applications can now also be submitted with CCP online at www.cc.gov.pk.