Practice question
A properly notified merger reaches expiry of all applicable Section17 periods without any decision. No incomplete-notification issue, other legal impediment or separate regulator requirement affects the hypothetical. What does Section17 provide?
- The merger is deemed approved and may be implemented
- Silence necessarily means permanent prohibition
- The parties must always wait forever
- A shareholder becomes PCC chair automatically
- Every expired notification becomes a criminal conviction
Legal references
- RA10667 Philippine Competition Act: https://elibrary.judiciary.gov.ph/thebookshelf/showdocs/2/63120 Section17 review periods, further-information request and confidentiality.
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