PART 4
Exclusions and Exemptions
Division 1—Exclusions from Merger Rule
8. Exclusions
(1) The merger rule does not apply to a merger if the economic efficiencies that arise or may arise from the merger outweigh the adverse effects caused by any lessening of competition in Hong Kong.
(2) In any proceedings in which it is alleged that the merger rule has been contravened by a merger, any undertaking claiming the benefit of subsection (1) has the burden of proving that the conditions of that subsection are satisfied.
Division 2—Exemption from Merger Rule
9. Exemption of merger on public policy grounds
(1) The Chief Executive in Council may, by order published in the Gazette, exempt a specified merger or proposed merger from the application of the merger rule if he or she is satisfied that there are exceptional and compelling reasons of public policy for doing so.
(2) An order under subsection (1) may be made subject to any conditions or limitations that the Chief Executive in Council considers appropriate.
10. Orders to be published and placed before Legislative Council
(1) The Chief Executive is to arrange for every order made under section 9 of this Schedule to be—
- (a) published in the Gazette; and
- (b) laid on the table of the Legislative Council at the next sitting of the Council after its publication in the Gazette.
(2) The Legislative Council may, by resolution passed at a sitting of the Legislative Council held not later than 28 days after the sitting at which an order is laid on the table of the Council (the “relevant period”), amend the order in any manner consistent with the power of the Chief Executive in Council to make the order in question.
