Seals holes in the Act
Legal Director Jonn Ola Sørensen in The Norwegian Competition Authority is very satisfied that the prohibition of implementation will now be introduced from day one for concentrations (mergers and acquisitions) which are obliged to be reported in accordance with the Competition Act.

- Today the implementation of mergers and acquisitions is only forbidden from the point in time when the parties are obliged to submit a so called complete notification. We have however experienced that company mergers have been implemented before this point in time, which makes the Authority's case handling more difficult and reduces the opportunities for efficient intervention. This 'hole' in the legislation has now been sealed, Mr Sørensen said.
 
No set deadline
At the same time, companies will benefit from the new amendment as there is no longer a set deadline for notifying concentrations to The Norwegian Competition Authority. Currently, The Authority must be notified at the latest by the point in time when the agreement is final or control is acquired. However, from 1 July the parties themselves decide when this type of notification should be submitted, providing the parties have not begun to carry out the merger.

The prohibition of implementation then applies to concentrations notified to the Norwegian Competition Authority through a standardized notification, until expiration of the 15 working days deadline for ordering the parties to submit a complete notification. If The Norwegian Competition Authority orders the submission of a complete notification, the prohibition of implementation continues to apply until the Authority notifies that intervention may be required. The authority may also decide that the prohibition of implementation applies in full until the case is finally settled