Time & procedure for examining consolidation of enterprises shortened a half

The Legislative Yuan passed the third reading of the draft of amendments to the Fair Trade Law yesterday (15^th). In the future, if an enterprise of which business volume exceeds five billion NT dollars applies for consolidation with the Fair Trade Commission and the Fair Trade Commission doesn’t oppose within thirty days, the case about consolidation will be effective automatically.  It is estimated that the examination time can be shortened a half.

The Fair Trade Commission indicated that now is the time of internationalized competition, and transnational enterprises will certainly maintain their business operation through merger in consideration of the global composition and operation cost. Amendments to the Fair Trade Law can deal with the adjustment of industrial structure and consider the mechanism of market competition as well.  Meanwhile, the procedure for the government to examine mergers between enterprises will be simplified.

Source: Economic Daily News 01/16/2002