Joel Fitzgibbon (Hunter, Australian Labor Party, Shadow Assistant Treasurer and Revenue) Share this | Hansard source

Why does it constrain the ACCC? Because the Treasurer is providing the ACCC with a very limited time period on which to make its assessment—I think it was 30 or 40 business days. The Fielding amendment extends that period.

There is one thing I would like to ask the Treasurer this afternoon about his changes, as he interjects. I ask the Treasurer whether or not an ACCC clearance for a merger proposal can be revoked under the new law, as it was always able to be revoked under the old law. In other words, if the ACCC clears a merger proposal and down the track the ACCC comes to the conclusion that the merger outcome is now having a detrimental impact on the Australian economy, can the ACCC revoke that formal clearance approval? (Time expired)

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