The Government has passed the Treasury Laws Amendment (Mergers and Acquisitions Reform) Bill 2024 through the House of Representatives.
This is a major milestone in building a stronger, more competitive and more productive economy.
These reforms are the largest shakeup of Australia’s merger settings in half a century.
This Bill will deliver a merger regime that is faster, stronger, simpler, more targeted and more transparent.
The current ‘ad hoc’ merger process is unfit for a modern economy, lagging best practice in comparable countries.
Australia is one of only 3 OECD countries that doesn’t require compulsory notification of mergers. Our current system allowed anti‑competitive mergers to escape detection..
Under the new regime, there will be a mandatory notification system for mergers above certain thresholds and the ACCC will be the decision maker on approvals.
This Bill has undergone extensive consultation and scrutiny. The Government calls for fast passage through the Senate next week to give business and the ACCC time to prepare and facilitate a smooth transition to the new regime from 1 January 2026.
