Law Council of Australia criticises merger law reform bill – Capital Brief

The legal profession’s highest body has opposed the government’s planned changes to merger rules, arguing the proposed measures risk creating “confusion and complexity for Australian businesses” and could hinder the inflow of foreign capital.

The Competition and Business Commission of the Law Council of Australia used the submission to the government’s review of the planned reforms and called for further changes.

“The draft legislation suffers from a high level of complexity and time-barring at times. There is a significant risk that it will create a more rigid, time-consuming and difficult process for the ACCC, merger parties and other stakeholders to navigate,” the motion, which was heard by A brief description of capital, is reading.

The comments came after the CEO of the Tech Council of Australia Damian Kassabgi this week he said Brief description of capital These changes send the wrong signal to the country’s technology sector.

Under the government’s proposals, the ACCC will have to be notified of any merger or acquisition transaction exceeding a financial threshold, the value of which has not yet been announced.