Posted on 18 October 2018
The financial thresholds at which the notification of a merger or acquisition to the Irish Competition and Consumer Protection Commission (CCPC) is required, are set to increase as of 1 January 2019.
From 1 January 2019, the financial thresholds which trigger a requirement to notify a merger or acquisition to the CCPC will be that, in the most recent financial year:
• the aggregate turnover in the State (i.e. the Republic of Ireland) of the undertakings involved is not less than €60 million (this threshold is currently €50 million); and
• the turnover in the State of each of two or more of the undertakings involved is not less than €10 million (this threshold is currently €3 million).
'Media mergers' as defined in section 28A of the Competition Act 2002 (as amended) will still be notifiable both to the CCPC and to the Minister for Communications, Climate Action and Environment, regardless of the turnover of the undertakings involved.
EFC welcomes the proposed increase which follows a 2017 consultation by the Department of Business, Enterprise and Innovation in respect of the Irish merger control regime. EFC made a submission to the Department’s consultation in which we advocated for the increased thresholds, and noted that there are adequate provisions in place to allow the CCPC to review non-notifiable transactions, as required.
For more information, please contact Eoghan Ó hArgáin, Head of EU, Competition and Regulated Markets
Posted on 10 October 2018
The vacant site levy was introduced by the Urban Regeneration and Housing Act 2015 (the “Act”). The levy is a site activation measure and was proposed to try and ensure that vacant land in urban areas is brought into beneficial use, having particular regard to the considerable need for more housing. In recent days, an Order has been made under section 11 of the Act with immediate effect. Section 11(1) of the Act requires that planning authorities issue a written notice by 1 June 2018 “or such later date in that year as the Minister may specify by Order” to owners of vacant sites entered on local authority vacant sites registers on 1 January 2018 of the intention to apply the levy on the listed sites with effect from January 2019. A flat 3% levy will apply on all registered vacant sites for 2018 (calculated on the market valuation of relevant sites), increasing to 7% for 2019 and subsequent years.
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