GIBRALTAR Law and Practice Contributed by: Emma Lejeune, Stuart Dalmedo, Nicholas Isola, James Castle and Louise Anne Turnock, ISOLAS LLP
• enterprises of interconnected bodies corpo - rate; • enterprises carried on by two or more bodies corporate of which one and the same person or group of persons has control; or • an enterprise carried on by a body corporate and an enterprise carried on by a person or group of persons having control of that body corporate. The threshold for the value of the turnover in Gibraltar of the enterprise being taken over must exceed: (i) GBP1 million, if in the course of the enterprise ceasing to be distinct, a person or persons has brought a relevant enterprise under the ownership or control of the person or group; or (ii) GBP25 million in any other case. The share of supply test is met if: • as a result of the enterprises ceasing to be distinct, one or both of the conditions men - tioned in Subsections (4) and (5) (as set out below) prevails or prevails to a greater extent; or • in the course of the enterprises ceasing to be distinct, a person or group of persons has brought a relevant enterprise under the ownership or control of the person or group mentioned in Subsections (6) and (7) (as set out below) was satisfied in relation to the relevant enterprise before it ceases to be a distinct enterprise. For the purpose of Subsection (4), in relation to the supply of goods of any description, at least two thirds of all the goods of that description which are supplied in Gibraltar: • are supplied by one and the same person or are supplied to one and the same person; or
• are supplied by the persons by whom the enterprises concerned are carried on, or are supplied to those persons. For the purpose of Subsection (5), in relation to the supply of services of any description, the supply of services of that description in Gibraltar is to the extent of at least two-thirds: • supply by one and the same person, or sup - ply for one and the same person; or • supply by the persons by whom the enter - prises concerned are carried on, or supply for those persons. For the purpose of Subsection (6), in relation to the supply of goods of any description: • at least two thirds of all goods of that descrip - tion which were supplied in Gibraltar were supplied by or to the person or persons by whom the enterprise was carried on; and • that supply was made in connection with activities of the enterprise by virtue of which it was a relevant enterprise. For the purpose of Subsection (7), in relation to the supply of services of any description: • the supply of services of that description in Gibraltar was to the extent of at least two thirds of all the services of that description, supply by or for the person or persons by whom the enterprise is carried on; and • that supply was made in connection with activities of the enterprise by virtue of which it was a relevant enterprise. 6.2 Merger Control Procedure Under the Act, notices of arrangements or pro - posed arrangements which might have result - ed or might result in the creation of a relevant
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