This significant amendment will have major practical impact in terms of reducing the number of transactions where filings are mandatory. One question has thus been whether a concentrations subject to mandatory filing obligation under the current regime, if the agreement leading to the concentrations is concluded prior to 1 January 2014, has to be notified if the concentration shall be implement after 1 January 2014.
The Competition Act carries no transitional rules on this issue, and the preparatory works are silent.
The NCA recently published a statement which clarifies its position: In this category of concentrations the NCA will apply the new turnover thresholds.
The clarification from the NCA implies that parties’ to concentrations where filing is mandatory under the current system, but not from 1 January 2014, may adapt their share purchase agreements and implementation plan in order to lawfully escape the filing obligation to the NCA.
The statement from the NCA can be found here.