Document ID: chunk:federal_register_of_legislation:C2006A00131:clause:1_95as:p3
Version: federal_register_of_legislation:C2006A00131
Segment Type: clause
Provision Reference: sch 1 cl 95AS (pt 3/3)
Character Range: 42666–44941

subsection (1) within the period that begins on the day the application was given to the Commission and ends on the 40th business day after that day, the Commission is, subject to subsection (11A), taken to have made a determination refusing to revoke the clearance.

 (11) The applicant may, before the end of the period referred to in subsection (10) (including any period that is taken to be substituted for that period by any other application or applications of this subsection), agree to the Commission taking a specified longer period to make its determination. If the applicant does, the longer period is taken to be substituted for the period referred to in subsection (10).

 (11A) However, if before the end of the period referred to in subsection (10) (including any period that is taken to be substituted for that period by any other application or applications of subsection (11)), the Commission decides that the matter cannot be dealt with properly within that period, either because of its complexity or because of other special circumstances, which must be notified in writing by the Commission to the applicant, the period is extended by a further 20 business days and the longer period is taken to be substituted for the period referred to in subsection (10) (or any other period that is taken to be substituted for that period by any other application or applications of subsection (11)).

Withdrawal of application

 (12) The applicant may, by notice in writing to the Commission, withdraw the application at any time.

Powers of Commission

 (13) The following sections apply in relation to an application for a revocation, or a revocation and substitution, of a clearance in the same way as they apply in relation to an application for a clearance:
 (a) section 95AJ (Commission may seek additional information from applicant);
 (b) section 95AK (Commission may seek further information and consult others).

Substituted clearances

 (14) The following sections apply in relation to a clearance substituted under this section in the same way as they apply in relation to a clearance granted under section 95AM:
 (a) section 95AP (Clearance subject to conditions);
 (b) section 95AQ (When clearance is in force).

Subdivision C—Merger authorisations