Material changes of fact
(1) This section applies in relation to a notification of an acquisition if: (a) the Commission has not made a determination in respect of the notification under subsection 51ABZE(1); and (b) the Commission becomes aware of a change of fact. (2) If the Commission is satisfied that the change of fact is material to the Commission making a determination under subsection 51ABZE(1) in respect of the notification, the Commission may, in writing: (a) if the notification is not subject to phase 2 review: (i) decide that the effective notification date of the notification is the date on which the Commission becomes aware of the change of fact; or (ii) decide that the phase 1 determination period for the notification is extended by the period mentioned in subsection (3); or (b) if the notification is subject to phase 2 review—decide that the phase 2 determination period for the notification is extended by the period mentioned in subsection (3). (3) For the purposes of subparagraph (2)(a)(ii) or paragraph (2)(b), the extension is for the period: (a) starting on the day the Commission makes the decision under that subparagraph or paragraph; and (b) including: (i) each day on which the notifying party of the notification has not given to the Commission information or documents in response to the decision in accordance with subsection 51ABZC(2); and (ii) the day (if any) on which the notifying party gives to the Commission information or documents in response to the decision in accordance with that subsection. (4) A decision under subsection (2) must be made within a reasonable period after the Commission becomes aware of the change of fact. (5) If the Commission makes a decision under subsection (2), the Commission must give written notice of the decision to the notifying party of the notification. Note: For review of the decision, see section 51ABZZG. (6) If the Commission extends the phase 1 determination period for the notification under subparagraph (2)(a)(ii) of this section, the period mentioned in paragraph 51ABZZE(3)(a) in relation to making a determination under subsection 51ABZE(1) in respect of the notification is extended by the same number of days. (7) If the Commission extends the phase 2 determination period for the notification under paragraph (2)(b) of this section, the following paragraphs apply in relation to making a determination under subsection 51ABZE(1) in respect of the notification: (a) the 25 business days mentioned in section 51ABZK is increased by the number of days of the extension; (b) the period mentioned in paragraph 51ABZZE(3)(b) is extended by the same number of days.
Sourced from the Federal Register of Legislation at 22 May 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au. Verify the current text against the official source before relying on it.
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