Document ID: chunk:federal_register_of_legislation:C2024C00742:section:151p
Version: federal_register_of_legislation:C2024C00742
Segment Type: section
Provision Reference: s 151P
Character Range: 348302–349675

151P  Duration of functional separation undertaking

Scope
 (1) This section applies if:
 (a) either:
 (i) a person gives the ACCC a standard functional separation undertaking (the new undertaking); or
 (ii) 2 or more persons give the ACCC a joint functional separation undertaking (the new undertaking); and
 (b) the ACCC accepts the new undertaking.

Duration
 (2) If the new undertaking is not expressed to be given by way of renewal of another functional separation undertaking:
 (a) in a case where the new undertaking is accepted before the designated commencement date—the new undertaking comes into force:
 (i) on the designated commencement date; or
 (ii) if a later day is specified in the new undertaking—on that day; and
 (b) in a case where the new undertaking is accepted on or after the designated commencement date—the new undertaking comes into force:
 (i) on the day after it is accepted; or
 (ii) if a later day is specified in the new undertaking—on that day; and
 (c) unless sooner revoked, the new undertaking continues in force until it expires.
 (3) If the new undertaking is expressed to be given by way of renewal of another functional separation undertaking:
 (a) the new undertaking comes into force immediately after the expiry of the other undertaking; and
 (b) unless sooner revoked, the new undertaking continues in force until it expires.