Notice No. 1943 of 1999
As amended by Notice 2893 of 1999
Department of Trade and Industry
I, Alexander Erwin, Minister of Trade and Industry, do hereby determine in terms of section 11(1) of the Competition Act, 1998 (Act 89 of 1998), in consultation with the Competition Commission, that—
| 1) |
Chapter 3 of the Competition Act, 1998 does not apply to any merger that does not meet the threshold set out in sub-item (2). |
| 2) |
Chapter 3 of the Competition Act, 1998 applies to a merger if— |
| i) |
the combined annual turnover in the Republic of the acquiring firm and the target firm is valued at or above R 50 million; or |
| ii) |
the combined assets in the Republic of the acquiring firm and the target firm are valued at or above R 50 million; or |
| iii) |
the annual turnover in the Republic of the acquiring firm plus the assets in the Republic of the target firm are valued at or above R 50 million; or |
| iv) |
the assets in the Republic of the acquiring firm plus the annual turnover in the Republic of target firm are valued at or above R 50 million; and |
| i) |
The annual turnover of the Target firm exceeds R 5 million; or |
| ii) |
The asset value of the Target firm exceeds R 5 million. |
| 3) |
The provisions of the Competition Act 1998 respecting a "large" merger apply to a merger if— |
| i) |
The combined annual turnover in the Republic of the acquiring firm and the target firm is valued at or above R 3,5 billion; or |
| ii) |
If the combined assets in the Republic of the acquiring firm and the target firm are valued at or above R 3,5 billion; or |
| iii) |
If the annual turnover in the Republic of the acquiring firm plus the assets in the Republic of the target firm are valued at or above R 3,5 billion; or |
| iv) |
If the assets in the Republic of the acquiring firm plus the annual turnover in the Republic of target firm are valued at or above R 3,5 billion; and |
| i) |
The annual turnover of the Target firm exceeds R 100 million; or |
| ii) |
The asset value of the Target firm exceeds R 100 million. |
| 4) |
In accordance with section 11(3)(a), an "intermediate merger" is a merger that— |
| a) |
falls within the threshold described in sub-item (2); but |
| b) |
falls outside the threshold described in sub-item (3). |
| 5) |
For the purposes of section 11 of the Act, the assets and the turnover of a firm in the Republic must be calculated in accordance with the provisions as set out in the Schedule. |
| 6) |
For the purpose of this notice— |
| a) |
"acquiring firm" means the total of all the firms that are acquiring firms in respect of that merger, as defined in Rule 25(1) of the Rules for the Conduct of Proceedings in the Competition Commission, as contained in General Notice number 1938 of the 20th August 1999; and |
| i) |
a firm, or the business or assets of a firm, that as a result of a transaction in any circumstances set out in section 12 of the Act, would become controlled by, or a significant interest in which would be held by another firm; and |
| ii) |
any other firm, or business or assets of a firm, that is controlled by, or a significant interest in which is held by, a firm or business described in subparagraph (i). |
Alexander Erwin
Minister of Trade and Industry
Stamp Duties Act, 1968 (Act 77 of 1968)
