ACCC unveils roadmap for landmark merger law overhaul

The Australian Competition and Consumer Commission (ACCC) is moving to implement significant updates to Australia’s merger regime following the passage of the Treasury Laws Amendment (Mergers and Acquisitions Reform) Bill 2024.

The reforms, set to take effect on Jan. 1, 2026, will introduce a mandatory notification process for mergers and acquisitions above designated thresholds, altering the current system where no such requirement exists.

Mergers and acquisitions reform

ACCC chair Gina Cass-Gottlieb called the reforms the most substantial change to merger laws in Australia since the Trade Practices Act was enacted 50 years ago.

“We recognise that this will be a very significant change for the business community and indeed the ACCC,” she said.

She explained that the reform is designed to ensure strong competition across the economy by addressing structural risks and promoting market dynamism.

“We have consistently outlined why the changes are necessary to achieve effective merger control in Australia and ensure there is strong competition across our economy, driving dynamism, productivity, and restraint on prices for the benefit of consumers and business,” Cass-Gottlieb said.

The changes include a voluntary phase starting July 1, 2025, enabling businesses to engage with the new framework ahead of its full implementation.

Shifting to mandatory notification 

The revised framework will require businesses to notify the ACCC of qualifying transactions and wait for clearance before proceeding.

Currently, merger parties can complete transactions without notifying the regulator or securing pre-approval. 

Under the new regime, additional measures aim to address long-standing competition concerns, including: 

• tools to assess cumulative impacts of smaller, sequential acquisitions that harm competition;
• publishing reasons for merger decisions to improve transparency for businesses and the public;
• streamlined approval processes for straightforward cases, with clearer timelines for businesses; and
• notification thresholds tailored for high-risk sectors, as identified by the Treasurer. 

Cass-Gottlieb said that collaboration with industry stakeholders would be critical for a smooth transition, with the ACCC focusing on clear guidance to help businesses navigate the process.

“We are acutely aware that successful implementation will be crucial to the overall success of the new regime. Therefore, we are working very hard to carry out this important preparation work, which we have outlined in the recently released Statement of Goals,” she said.

Implementation roadmap

The ACCC has outlined several milestones for the transition: 

• Early 2025: Public consultations on draft guidelines, analytical methods, and notification forms.
• July 1, 2025: Businesses may begin using the voluntary notification system.
• Jan. 1, 2026: Full implementation of mandatory notification requirements.
• 2027 to 2029: Reviews of notification thresholds and overall regime effectiveness to assess economic impacts. 

To assist stakeholders, the ACCC plans to publish final guidelines by mid-2025, providing clarity on procedural requirements and expectations under the new system.