Commonwealth Numbered Acts

TRADE PRACTICES ACT 1974 No. 51, 1974 - SECT 90

90. (1) The Commission shall, in respect of an application for an
authorization-

   (a)  make a determination in writing granting such authorization as it
        considers appropriate; or

   (b)  make a determination in writing dismissing the application.

(2) The Commission shall take into account any submissions in relation to the
application made to it by the applicant or any other person and may, where it
considers it appropriate to do so, hold a public hearing in relation to the
application.

(3) Where the Commission decides to hold a public hearing in relation to an
application, the Commission shall cause notice of the time and place at which
the hearing is to commence to be made public in such manner as it thinks fit.

(4) The Commission shall state in writing its reasons for a determination made
by it.

(5) Subject to sub-sections (9) and (11), the Commission shall not make a
determination granting an authorization unless it is satisfied that the
contract, arrangement, understanding or conduct to which the application
relates results, or is likely to result, in a substantial benefit to the
public, being a benefit that would not otherwise be available, and that, in
all the circumstances, that result, or that likely result, as the case may be,
justifies the granting of the authorization.

(6) Subject to sub-sections (7) and (8), the Commission shall determine an
application for an authorization under sub-section 88 (7) within 4 months from
the prescribed date.

(7) If the applicant for an authorization under sub-section 88 (7) informs the
Commission in writing before the expiration of the period referred to in
sub-section (6) that the applicant agrees to the Commission taking a specified
longer period for the determination of the application, that longer period
shall be deemed to be substituted in sub-section (6) for the period referred
to in that sub-section.

(8) For the purposes of an application of sub-section (7), a reference in that
sub-section to the period referred to in sub-section (6) shall, if another
period is deemed to have been substituted in sub-section (6) for that period
by any other application or applications of sub-section (7), be construed as a
reference to that other period.

(9) Subject to sub-section (10), where-

   (a)  an application is made for an authorization under sub-section 88 (7)
        in relation to the acquisition of shares in the capital, or assets, of
        a body corporate; and

   (b)  the Attorney-General by notice in writing to the Commission informs
        the Commission that the Australian Government considers that there are
        special considerations relating to the acquisition that make it
        desirable in the interests of national economic policy that an
        authorization be granted in respect of the acquisition, the Commission
        shall grant the authorization.

(10) The Commission shall not begin to consider an application for an
authorization under sub-section 88 (7) in relation to the acquisition of
shares in the capital of a body corporate that is a company to which the
Companies (Foreign Take-overs) Act 1972-1973 applies unless the applicant has
furnished to the Commission a certificate given in accordance with sub-section
17 (1) of that Act in respect of the shares.

(11) If the applicant for an authorization referred to in sub-section (10)
furnishes to the Commission under that sub-section a certificate given in
accordance with paragraph 17 (1) (b) of the Companies (Foreign Take-overs) Act
1972-1973 in respect of the shares to which the application relates, the
Commission shall grant the authorization.

(12) Where the applicant for an authorization referred to in sub- section (10)
has furnished a notice of a kind referred to in sub-section 13 (7) of the
Companies (Foreign Take-overs) Act 1972-1973 to the Minister administering
that Act in relation to the acquisition of shares to which the application
relates and that Minister-

   (a)  has not, before the expiration of 1 month after the date on which the
        notice was received by him, made an order under section 13 of that Act
        in relation to the acquisition of those shares; or

   (b)  has made an interim order under sub-section 13 (6) of that Act in
        relation to the acquisition of those shares and-

        (i)    has not, before the expiration of that interim order, made an
               order under sub-section 13 (2) or (3) of that Act; or

        (ii)   has revoked that interim order and has not forthwith made an
               order in relation to the acquisition of those shares under
               sub-section 13 (2) or (3) of that Act, sub-section (10) does
               not apply in relation to the acquisition of those shares.

(13) If the applicant for an authorization referred to in sub-section (10)
furnishes to the Commission a statutory declaration by a competent officer of
the applicant in relation to a matter referred to in sub-section (12), that
statutory declaration shall, in the absence of any evidence to the contrary,
be accepted by the Commission as evidence of that matter.

(14) For the purposes of sub-section (6), the prescribed date is-

   (a)  in the case of an application for an authorization in respect of a
        proposed acquisition of shares in the capital of a body corporate that
        is a company to which the Companies (Foreign Take-overs) Act 1972-1973
        applies-

        (i)    in a case to which sub-paragraphs (ii), (iii) and (iv) of this
               paragraph do not apply-the date on which a certificate given in
               respect of the shares in accordance with sub-section 17 (1) of
               that Act is furnished to the Commission;

        (ii)   in a case to which paragraph (12) (a) applies-the date referred
               to in sub-paragraph (i) of this paragraph or the last day of
               the period of 1 month referred to in paragraph (12) (a),
               whichever first occurs;

        (iii)  in a case to which sub-paragraph (12) (b) (i) applies-the date
               referred to in sub-paragraph (i) of this paragraph or the date
               of expiration of the interim order, whichever first occurs; or

        (iv)   in a case to which sub-paragraph (12) (b) (ii) applies-the date
               referred to in sub-paragraph (i) of this paragraph or the date
               of revocation of the interim order, whichever first occurs; and

   (b)  in any other case-the date on which the application is received by the
        Commission.