Concentrations meaning

ARCHIVED: This flowchart has been archived and is no longer supported. It summarises how the Third Parties (Rights Against Insurers) Act 2010 (TP(RAI)A 2010) and the Third Parties (Rights Against Insurers) Act 1930 are applied within this flowchart overview...

Purpose of the contract of insurance–flowchart This flowchart is designed to help determine whether specific arrangements amount to a contract of insurance. It should be consulted, where appropriate, together with Practice Notes: Identifying contracts of insurance in English law—an introduction, and also What is a contract of insurance? Contract of insurance–flowchart...

Foreign Subsidies Regulation Commission opens first in-depth investigation under the Foreign Subsidies Regulation The Commission has revealed the launch of its inaugural in-depth inquiry under the Foreign Subsidies Regulation (EU) 2022/2560 (the FSR). This regime sets out a suite of rules designed to remedy distortions stemming from foreign subsidies, including notification requirements (effective since 12 October 2023) relating to specified concentrations as well as involvement in public procurement procedures that feature foreign financial contributions within the EU. They operate to address distortions caused by foreign subsidies. In particular, companies are obliged to notify their EU public procurement tenders when the expected contract value exceeds €250m, and where the company has been awarded at least €4m in foreign financial contributions from at least one third country within the three years preceding notification...

In this issue: Brexit UK, EU and international regulators and bodies Authorisation, approval and oversight Prudential rules Risk management and controls Sanctions and financial crime Consumer protection Investigations, enforcement and disciplinary action Benchmark regulation and IBOR reform Capital markets regulation Dispute resolution for financial services lawyers Securities financing transactions Derivatives regulation ESG and sustainable finance Banks and mutuals MiFID II Insurance regulation Payment services and systems Fintech and cryptoassets Financial Services Enforcement Database Daily and weekly news alerts Intraday news alerts New and updated content Dates for your diary Brexit Retained EU Law (Revocation and Reform) Act 2023 (Consequential Amendment) Regulations 2023, SI 2023/1424: made under powers in the REUL(RR)A 2023 in connection with Brexit, this instrument amends 16 pieces of UK secondary legislation and 90 pieces of UK primary legislation as part of retained EU law reform, and comes...

Mergers The Commission has received notifications for: DK/Ysco (M.11673) (simplified merger procedure) Sick/EH/EHA (M.11692) (simplified merger procedure) The Commission has issued in the Official Journal a Commission Notice concerning Implementing Regulation (EU) 2024/2776 of 31 October 2024, which corrects Implementing Regulation (EU) 2023/914 implementing Council Regulation (EC) No 139/2004 on the control of concentrations between undertakings and repealing Commission Regulation (EC) No 802/2004—see also the Commission Notice. NOTE—For details of all live merger investigations before the Commission, please refer to the EU mergers—ongoing cases tracker. Upcoming dates For dates of forthcoming EU competition developments, see the EU Competition calendar...

1. What is the applicable legislation? The rules governing foreign direct investment are set out in: Competition Law No. 21 of 10 April 1996, as later amended and republished, most recently by Government Emergency Ordinance (GEO) No. 17/2026 of 13 March 2026 (Competition Law 1996) Regulation on economic concentrations adopted by Order No. 432/2017 of the President of the Romanian Competition Council (RCC) Supreme Council for State Defence (CSAT) Decision No. 73/2012 concerning the application of article 46 paragraph (9) of the Competition Law 1996 GEO No. 46/2022 implementing Regulation (EU) 2019/452 of the European Parliament and of the Council of 19 March 2019 establishing a framework for the screening of foreign direct investments into the Union (FDI GEO 2022), published on 18 April 2022 and approved by Law No. 164 of 31 May 2023, further amended by GEO No. 108 of 29 November 2023, Law No. 231/2024 of 17 July 2024, GEO No. 152/2024 of 18 December 2024, and GEO No. 17/2026...

This month features a standstill and hold separate order by the Belgian Competition Authority against Proximus for a non-notifiable acquisition under abuse of dominance rules; amendments to Morocco’s merger control thresholds; the publication of draft Swiss legislation introducing, amongst other measures, a new exemption from the notification obligation; and the Federal Trade Commission in the USA proposing changes to the pre‑merger notification form and process. Belgian—BCA imposes standstill and hold separate order under abuse of dominance rules In our March 2023 monthly merger update, we noted that the Belgian Competition Authority (BCA) had launched an ex post investigation, based on abuse of dominance rules, into Proximus, the incumbent Belgian telecoms operator, following its recent acquisition of EDPnet. The transaction did not meet Belgian merger control thresholds owing to EDPnet’s turnover. This move follows the Court of Justice’s Towercast judgment of 16 March 2023, which confirmed that concentrations below merger thresholds can be subjected to ex post scrutiny for abuse of dominance. Towercast therefore recognises an additional path...

NOTE—to verify whether notification thresholds in Sudan and worldwide are satisfied, please kindly consult: Where to Notify. Sudan is likewise a COMESA member, which administers a supra-national merger control regime for mergers. 1. Have there been any recent developments regarding the regime and are any updates/developments expected in the coming year? Are there any other ‘hot’ merger control issues in Sudan? By Decree No. 513 dated 15 November 2020, the Prime Minister established the Council for Competition and Prevention of Monopolistic Practices (the Council). This body serves as Sudan’s competition authority. At present, it remains unclear whether the team within the Council tasked with merger control is functioning. In 2021, the Council stated that it intended to revise the Regulation of Competition and Prevention of Monopoly Act, 2009 (the Act), so that it aligns with regional conventions. Among the projected changes was the introduction of filing fees for concentrations (i.e. mergers). To date, however, no such amendment has been enacted. We are not aware of any concrete...

Overview The EU Merger Regulation (EUMR) (Regulation (EC) No 139/2004) applies to concentrations with an EU dimension. If [ name of project/transaction ] falls within EUMR, it must be notified to the European Commission (the Commission) prior to completion. The transaction cannot be finalised until clearance has been granted. Accordingly, an assessment should be undertaken as soon as possible at the earliest opportunity to confirm whether [ project name/transaction ] possesses an ‘EU dimension’ for these purposes...

Overview Joint ventures cover a wide spectrum of commercial arrangements, from merger-style integrations to co-operation confined to particular functions such as production, distribution, or research and development (R&D). This questionnaire seeks sufficient detail about the joint venture’s activities to enable an initial assessment of whether it is a full-function joint venture for the purposes of the EU Merger Regulation (Council Regulation No 139/2004 on the control of concentrations between undertakings). If it is a full-function venture with an EU dimension (meaning the turnover thresholds are satisfied), the joint venture must be notified to the European Commission (the Commission) and cannot proceed until the Commission has found it compatible with the internal market. If the joint venture is not full-function and operates as a partnership that is, to a large extent, dependent on its parent companies, the establishment of the joint venture does not require notification; however, the Commission may exercise control after the fact, in light of Article 10(1) of the Treaty on the Functioning of the European Union...