Merger Control Regime

Overview

A new mandatory merger control regime comes into effect on 1 January 2026, strengthening Australia's merger laws. This process replaces the current informal review and merger authorisation processes.

The merger control regime aims to identify and prevent anti-competitive acquisitions, while allowing those that do not raise competition concerns to proceed as quickly as possible.

Under the mandatory merger control regime, businesses contemplating an acquisition that meets certain thresholds must notify the ACCC and wait for approval before their proposed acquisition can proceed.

Transition Period

From 1 July 2025, businesses can notify on a voluntary basis to enable businesses to manage the transitional period.

Key dates:

• 1 July 2025: New regime available voluntarily; merger authorisation applications no longer possible
• 1 January 2026: Mandatory notification requirements commence

Until 31 December 2025, businesses can either:

• Notify using the new merger control regime on a voluntary basis
• Continue to use the current informal review process

What the ACCC Does

The ACCC:

• Assesses notified acquisitions and waiver applications
• Makes administrative decisions according to the test and process in the Competition and Consumer Act 2010
• Publishes and maintains a public register with details of each notified acquisition and waiver applications, including reasons for decisions
• Takes an active monitoring and surveillance role to ensure compliance with mandatory requirements

Notification Requirements

Under the regime, businesses contemplating an acquisition that meets certain thresholds must notify the ACCC. After an acquisition has been notified, the ACCC will assess whether it would be likely to substantially lessen competition.

Businesses can go ahead with a notified acquisition only after it is approved, provided it is completed within 12 months of the ACCC's decision.

The thresholds, forms and fees are set out in legal rules made by a Treasury Minister.

Pre-Notification Engagement

Businesses should consider engaging with the ACCC before notifying their acquisition. This is a valuable opportunity to:

• Raise issues including whether a short form or long form is appropriate
• Discuss possible areas of focus, information and data that may be required
• Discuss timing

Pre-notification engagement helps the ACCC prepare to assess your notification as efficiently and quickly as possible and reduces the likelihood of subsequent information requests.

We recommend commencing pre-notification engagement at least 2 weeks before you plan to formally notify. Contact the ACCC earlier if your acquisition is likely to raise competition issues or is complex.

Notification Process

Notification Forms

You can use either the short or long notification form:

• Short form: Appropriate for straightforward acquisitions that are unlikely to raise competition concerns
• Long form: More appropriate for acquisitions that may raise greater competition risks and/or complexity

Notification Steps

To notify an acquisition:

1. Determine if your acquisition meets the notification thresholds
2. Lodge the appropriate form through the acquisitions portal
3. Pay the applicable fee

Assessment Process and Timelines

The ACCC is the first instance decision maker on each notified acquisition. The process is the same regardless of whether notification is made on a mandatory or voluntary basis.

Phase 1 Assessment

• Up to 30 business days, subject to any extensions
• The earliest the ACCC may approve an acquisition is after 15 business days (to ensure transparency via the acquisitions register)

Phase 2 Assessment

If further assessment is required:

• Up to 90 business days
• May be extended under some circumstances

Public Benefit Applications

If the ACCC does not approve an acquisition or approves it with conditions, businesses have the option of applying for approval based on an assessment of likely public benefits and detriments:

• Must be made within 21 calendar days after the ACCC's competition assessment
• The ACCC has up to 50 business days to consider public benefit applications, subject to any extensions

Fees for 2025-26

Small Business Fee Exemption

Small businesses with aggregated turnover of less than AUD $10 million may be eligible for a fee exemption if:

• There is only one notifying party and it is a small business entity, or
• There is more than one notifying party and all are small business entities

Notification Waivers

From 1 January 2026, businesses can apply for a notification waiver through the acquisitions portal. A waiver removes the need to notify an acquisition, even if it meets the thresholds.

Waivers may be suitable for certain types of acquisitions that do not raise competition concerns.

Remedies

Remedies address competition concerns that could otherwise result from an acquisition. Businesses may offer remedies in the form of commitments or court-enforceable undertakings.

Best practices when offering remedies:

• Discuss it with the ACCC early (during pre-notification engagement if possible)
• Put your best offer forward as early as possible
• Ensure it is clearly defined, includes supporting information and addresses the competition concerns

The ACCC can approve an acquisition with conditions. These conditions may reflect remedies that parties have offered or remedies the ACCC considers appropriate following consultation.

Public Benefits

Businesses have the option to seek approval of an acquisition based on the likely public benefits and detriments. A public benefit application may be made if the ACCC has first considered the competitive effects and either:

• Did not approve the acquisition, or
• Approved the acquisition with conditions

The ACCC assesses whether the acquisition is likely to result in a benefit to the public that would outweigh the detriment.

The Acquisitions Register

Acquisitions notified to the ACCC under the merger control regime and waivers (from 1 January 2026) are made public on the acquisitions register. Each entry includes information about the notification or waiver application, status and outcome, including written reasons for the decision.

Getting Help

• Questions about a proposed acquisition: Email mergers@accc.gov.au
• Questions about merger reform or the new process: Email MergerReformInfo@accc.gov.au

Use the secure acquisitions portal to request early engagement, notify an acquisition, and pay fees.