Attention of the AMCU to New Issues
On August 19th, 2016 the new Regulations on Concerted Action as well as on Concentration have come into force. First of all, the Regulations envisage the simplification of an application form and reduction of the list of information that should be filed to obtain such permit.
The most important changes are related to the following aspects:
- There is no need to provide a list of all companies of the group - only the list of Ukrainian companies as well as companies that receive their income from economic activities in Ukraine;
- There is no need to indicate companies, in which the parties are minority shareholders;
- Parties, instead of detailed information about activities on unimplemented goods markets, will have to provide only a brief description of such other activities;
- There is no obligation to provide detailed information about officials and relatives (under certain conditions).
The new rules set out more stringent conditions for reviewing the declared transactions funding and provide for a more detailed analysis of the structure of ownership of business entities. Parties are now also expected to provide more thorough reasoning, based on an economic analysis of transactions and their consequences, in order to obtain a permit for conducting transactions.
