IRELAND Law and Practice Contributed by: Philip Tully, Emma Doherty, Geraldine Carr, Simon Shinkwin and Carlo Salizzo, Matheson LLP
Phase I A Phase I clearance determination must be issued by the CCPC within 30 working days of the “appropriate date”, which means the date on which a complete filing by the merging parties is made unless either the CCPC has used its power to ”stop and restart the clock” by issuing a for - mal requirement for information (RFI). This has the effect of resetting the clock and only restart - ing it when the RFI is complied with or when the parties and the CCPC commence negotiating remedies, in which case, the Phase I period is extended to 45 working days. The CCPC also issues “informal” requests for information that do not stop and restart the clock. Phase II A Phase II clearance determination must be issued by the CCPC within 120 working days of the appropriate date. If the CCPC issues a formal RFI in the first 30 working days of the Phase II period, this has the effect of stopping and restarting the clock in the same way as in Phase I. If the parties and the CCPC are negoti - ating remedies, the Phase II period is extended to 135 working days. Obligations and Failure to Notify A suspensory obligation is included in the Act. Section 19 (1) of the Act imposes a prohibition on the merging parties putting a merger that has been notified (both mandatorily and voluntarily) into effect prior to the issuing of a clearance determination. Under Sections 18 (9) and 18 (10) of the Act, failure to notify a merger that meets the turnover thresholds is a criminal offence punishable by fines of up to EUR250,000, plus EUR25,000 per day for a continued breach. The CCPC can now also impose administrative fines or could also
seek (with the Director for Public Prosecutions) criminal sanctions. 6.3 Cartels Anti-competitive agreements and practices are prohibited under Section 4 of the Act based on Article 101 of the TFEU. Section 4 prohibits agreements, decisions and/or concerted prac - tices that have as their object or effect the pre - vention, restriction or distortion of competition in trade in any goods or services in Ireland or any part of Ireland. The Act applies to businesses operating in Ireland and international businesses where an agreement is found to restrict competi - tion in Ireland. Section 4 sets out a non-exhaustive list of agree - ments that are prohibited, such as those that: • directly or indirectly fix purchase or selling prices or any other trading conditions; • limit or control production, markets, technical development or investment; • share markets or sources of supply; • apply dissimilar conditions to equivalent transactions with other trading partners (thereby placing them at a competitive disad - vantage); or • make the conclusion of contracts subject to acceptance by other parties of supplementary obligations that by their nature or according to commercial usage have no connection with the subject matter of the contracts. Section 6 of the Act makes it a criminal offence to enter into or implement an agreement, deci - sion or concerted practice prohibited under Sec - tion 4. The CCPC operates a Cartel Immunity Programme with the Director of Public Pros - ecutions and a separate Leniency Programme which provides for the possibility of immunity or leniency from prosecution or civil action for the
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