The Irish Competition and Consumer Protection Act 2014 enters into force tomorrow, 31 October 2014. It introduces new merger notification thresholds, among other important changes to the Irish competition law regime.
The revised merger notification thresholds are:
- Aggregate turnover in the Republic of Ireland of all of the undertakings involved is not less than €50 million; and
- Turnover in the Republic of Ireland of each of two or more of the undertakings involved is not less than €3 million.
Additional important changes to the Irish competition law regime are:
- The establishment of the Competition and Consumer Protection Commission (replacing the Competition Authority and National Consumer Agency).
- An increase in the timeframes for the review of mergers.
- A new media merger regime.
For more details, please see our bulletin of 29 July 2014