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S13
Review of international transactions
21. (I) If merging parties submit a merger application in respect of an intemational transaction where
the date of closing is likely to occur before the finalization of the Commission's investigation, the
parties shall (a) indicate in the original application the intended date of closing;
(b) set out how their interests in Swaziland would be insulated from the implementation of the
world wide transaction; and
(c) provide legally enforceable undertakings that will ensure that the parties' interest in
Swaziland will be managed and run without any interference from the merged firm
following closing of the international transaction.
(2) The international closing of a proposed merger is not allowed before the filing of a merger
application before the Commission.
(3) In urgent circumstances, the Commission on good cause shown may shorten the time period.
Review of merger application
22. (1) For purposes of considering a proposed merger, the Commission may, through the office of the
Executive Director or any officer delegated by him, refer the application in respect of the proposed
merger in terms of section 38(1) of the Act to an officer for investigation and advise the parties to the
merger of the name and contact details of the officer in question.
(2) As soon as practicable after a referral in terms of sub-regulation (I), the officer concerned shall
(a) investigate the merger as expeditiously as possible; and
(b) furnish the Executive Director or his nominee with a report of the investigation before the
expiry of the Commission's investigation period.
(3) A person, including a person not involved as a party in a proposed merger, may voluntarily
submit to an officer or the Executive Director any document, affidavit, statement or other relevant
information in respect of a proposed merger at any time before the conclusion of the investigation.
(4) For avoidance of doubt, the Executive Director and the investigation team shall consider any
material information submitted to them before the end of the investigation period or before the Board
makes its determination, which information may be presented as an addendum to a final report.
(5) The officer shall properly consider the information given and provide copies of such
information to the merging parties where such information is not subject to confidentiality claims for
their information and comment.
(6) Where the information submitted is covered by confidentiality claims, the officer shall require
the party that furnished the information to prepare a summary of the confidential information for
submission to the merging parties.