| (1) | In order to make representations on any public interest ground referred to in section 12A(3), the Minister may participate as a party in any merger proceedings before the Competition Commission, Competition Tribunal or Competition Appeal Court, in the prescribed manner. |
[Section 18(1) substituted by section 13 of Notice No. 175, GG 42231, dated 14 February 2019]
| (2) | Despite anything to the contrary in this Act, the Competition Commission may not make a decision in terms of section 13(5)(b) or 14(1)(b), and the Competition Tribunal may not make an order in terms of section 16(2), if the— |
| (i) | an acquisition of shares for which permission is required in terms of section 37 of the Banks Act, 1990 (Act No. 94 of 1990); |
| (ii) | a transaction for which consent is required in terms of section 54 of the Banks Act, 1990 (Act No. 94 of 1990); |
| (b) | Minister of Finance has, in the prescribed manner, issued a notice to the Commissioner specifying the names of the parties to the merger and certifying that— |
| (i) | the merger is a merger contemplated in paragraph (a)(i) or (ii); and |
| (ii) | it is in the public interest that the merger is subject to the jurisdiction of the Banks Act, 1990 (Act No. 94 of 1990) or the Financial Markets Act, 2012, as the case may be, only. |
[Section 18(2) substituted by section 111 of the Financial Markets Act, 2012]
| (3) | Sections 13(6) and 14(2) do not apply to a merger in respect of which the Minister of Finance has issued a certificate contemplated in subsection (2). |
| (4) | In addition to subsections (2) and (3), if the Governor of the Reserve Bank, or a person authorised by the Governor to do so, has, after consultation with the Competition Commission, determined in writing that this section applies to a transaction in terms of section 166S of the Financial Sector Regulation Act, 2017 (Act No. 9 of 2017)— |
| (a) | the Competition Commission may not make a decision in terms of section 13(5)(b) or 14(1)(b) in relation to the transaction; |
| (b) | the Competition Tribunal may not make an order in terms of section 16(2) in relation to the transaction; and |
| (c) | sections 13(6) and 14(2) do not apply in relation to the transaction. |
[Section 18(4) inserted by section 19 of the Financial Sector Laws Amendment Act, 2021 (Act No. 23 of 2021), Notice No. 789, GG45825, dated 28 January 2022- effective 1 June 2023 per (b)(i) of Commencement Notice No. 3202, GG48294, dated 24 March 2023]
[Section 18 substituted by section 6 of Notice No. 1354, GG 21880, dated 13 December 2000]
