In order to assist marketing agents in submitting pre-merger applications, the Competition Commission of Pakistan (CCP) has developed an Online Merger Filing System through which pre-merger applications can be submitted in electronic form.
CCP has taken this step in order to convert its system into an environment where there is less paper work and more data stored online. As a result, the online merger filing system will greatly help in its aim as it will store all the data on servers rather than on papers.
Pre-merger applications can now be submitted online and also in printed form.
Under Section 11 of the Competition Act 2010, it is stated that if an agency wants to procure the shares or assets of another agency, or, if two or more agencies want to merge and meet the pre-merger application, they will have to apply for clearance from the CCP.
Approval of Application
The pre-merger application will be reviewed under the light of the law by the CCP’s Mergers & Acquisitions Department and after thorough examination of the application; it will then be approved by the Commission in the form of an order within 30 days of receiving the complete pre-merger application. After the first phase of reviewing the application, the second phase includes the processing of the application after which order is issued by the Commission within 90 days.
This new merger filing system will benefit everyone to submit pre-merger applications online. Through this system, all applications will be submitted in the same format through a software application designed by the CCP and in this way, applications will be submitted online without any difficulties.
Application Security
The system uses secure certificates to ensure the safety of the documents. Subsequently, it establishes a secure connection between CCP and the concerned application submitter as the network between them is monitored through security certificates.
The online merger filing system will not only ease the process of submitting the application but it will also help to trace the status of the application. One can easily submit the pre-merger application with CCP online by visiting here.
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