Commerce Act amendment
PA Wellington Smaller firms have been released from the obligation to notify merger or takeover proposals to the Examiner of Commercial Practices. An amendment to a schedule of the Commerce Act has increased from $7.5M to S2OM the threshold for the aggregate value of assets in merger or takeover proposals requiring notification. The value of the smaller participant's assets has been increased from SIM to $2.5M. The Minister of Trade and Industry. Mr Templeton, said
in a statement the change recognised- the rising monetary value of assets of the firms involved. It brought them back into line, in real terms, with the levels set some years ago. “Increasingly, as a result of inflationary effects, smaller companies have been obliged to notify proposals. “This change will release them from that obligation and concentrate attention on the more important proposals having greater economic impact, as originally intended.” Mr Templeton said.
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Press, 26 February 1983, Page 20
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151Commerce Act amendment Press, 26 February 1983, Page 20
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