Competition Bulletin: New Issuances of the Philippine Competition Commission

The Philippine Competition Commission (“PCC”) has issued the following:

·         Memorandum Circular No. 17-001 setting out the guidelines for the imposition of fines for failure to comply with the merger notification requirements and waiting periods under the Philippine Competition Act (“PCA”) and the Implementing Rules and Regulations (“IRR”).

·         Clarificatory Note No. 17-001, which clarified that, although the waiting period in voting securities acquisitions begins after the acquiring entity files a complete Merger Notification Form, the acquired entity is nevertheless required to submit its Form no later than 10 days from the day the acquiring entity files its Form.

·         Merger Review Guidelines, which outline the principal analytical techniques, practices, and the enforcement policy of the PCC with respect to mergers and acquisitions that may have a direct, substantial and reasonably foreseeable effect on trade, industry, or commerce in the Philippines.

 

Download and read the complete Competition Bulletin. The bulletin was authored by SyCipLaw partner Arlene M. Maneja.