Document ID: chunk:federal_register_of_legislation:C2004A01719:body:0:p59
Version: federal_register_of_legislation:C2004A01719
Segment Type: other
Provision Reference: 
Character Range: 142113–144843

of commencement of this section, a corporation made a contract that contained a covenant and the contract was subject to a condition that the contract would not come into force unless and until a notice was given to the corporation under sub-section 92(2) of the Principal Act in relation to the contract—
     (a) the covenant shall be deemed to be subject to the condition referred to in paragraph 45b(8)(a) of the Principal Act as amended by this Act; and

     (b) if, before the date of commencement of this section, the corporation gave, as mentioned in paragraph 45(8)(b) of the Principal Act, a notice, in relation to the contract, to the Trade Practices Commission established under the Principal Act and that Commission did not, before that date, give notice in writing to the corporation stating whether or not that Commission considered that any restraint of trade or commerce resulting from the contract had, or was likely to have, a significant effect upon competition, the giving of the notice by the corporation shall be deemed to have been an application by the corporation for a grant of an authorization to enforce the terms of the covenant.
(7) Where, before the date of commencement of this section, a corporation entered into a contract to acquire shares in the capital, or assets, of a body corporate and the contract was subject to a condition that the contract would not come into force unless and until sub-section 94(3) of the Principal Act applied in relation to the acquisition—
     (a) the contract shall be deemed to be subject to the condition referred to in paragraph 50(4)(b) of the Principal Act as amended by this Act; and
     (b) if, before the date of commencement of this section, the corporation gave, as mentioned in paragraph 50(3)(c) of the Principal Act, a notice of the proposed acquisition to the Trade Practices Commission established under the Principal Act and that Commission did not, before that date, give notice in writing to the corporation stating whether or not that Commission considered that the proposed acquisition would be likely to have the effect of substantially lessening competition in a market for goods or services, the giving of the notice by the corporation shall be deemed to have been an application by the corporation for the grant of an authorization to acquire the shares or assets.

Procedure for applications.
55. Section 89 of the Principal Act is amended—
     (a) by adding at the end of the sub-section (3) the words "(including applications that have been withdrawn) ";
     (b) by omitting from sub-section (4) the words "sub-sections (5) and (6)" and substituting the words "this section";
     (c) by omitting paragraph (a) of sub-section (4)