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1 COOPERATION ARRANGEMENT BETWEEN THE TAIWAN FAIR TRADE COMMISSION, THE AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AND THENEW ZEALAND COMMERCE COMMISSION REGARDING THE APPLICATION OF CO-MPETITION AND FAIR TRADING LAWS ("ARRANGEMENT") BACKGROUNDThe Taiwan Fair Trade Commission, the Australian Competition andConsumer Commission, and the New Zealand Commerce Commission (hereinafter referred to as the "Participants") note that: (a) the Participants share the view that the sound and effectiveenforcement of their competition and fair trading laws is amatter of importance to the efficient operation of the resp-ective markets of the jurisdictions of the Participants andto trade among the jurisdictions of the Participants; (b) this Arrangement is to replace and supersede the existingoperation of the "Go-Operation and Go-Ordination Arrangementbetween the Taipei Economic and Cultural Office and the NewZealand Commerce and Industry Office Regarding the Applicat-ion of the Competition and Fair Trading Laws". Accordinglythe "Go-Operation and Go-Ordination Arrangement between theTaipei Economic and Cultural Office and the New Zealand Com-merce and Industry Office Regarding the Application of theCompetition and Fair Trading Laws" will be terminated on thedate that this Arrangement comes into effect. (c) this Arrangement will not affect the existing operation ofthe: (i) "Go-operation and Go-ordination Agreement between the Australian Trade Practices Commission and New Zealand Commerce Commission": and (ii) "Cooperation and Coordination Arrangement between theTaipei Economic and Cultural Office and the Australian Commerce and Industry Office Regarding the Application of the Competition and Fair Trading Laws". The Participants have decided on the following ten paragraphs:PARAGRAPH I PURPOSE AND DEFINITIONS 1.The purpose of this Arrangement is to promote cooperation andcoordination among the Participants and to lessen the possibi-lity or impact of differences among the Participants in theapplication of their competition and fair trading laws. 2.In this Arrangement: (a) "competition and fair trading laws" will mean: (i) for the Taiwan Fair Trade Commission, the Fair Trade Law; (ii) for the Australian Competition and Consumer Commission, the Trade Practices Act 1974 as amended; and (iii) for the New Zealand Commerce Commission, the CommerceAct 1986 and the Fair Trading Act 1986. (b) "enforcement activity(ies)" will mean any application ofcompetition and fair trading laws by way of investigation or proceeding conducted by a Participant. (c) "territory(ies)" will mean the territories in respect ofwhich the competition and fair trading laws are administe-red by the Participants. 3.Any reference in this Arrangement to a specific provision ofthe competition and fair trading laws will be interpreted asreferring to that provision as amended from time to time andto any successor provisions. PARAGRAPH II NOTIFICATION 1.Each Participant will notify the other Participants of amendm-ents to that Participant's competition and fair trading laws.2.A Participant will notify another Participant in the mannerprovided by this Paragraph with respect to its: enforcementactivities that may affect the important interests of the oth-er Participant, including those that: (a) are relevant to enforcement activities of the other Partici-pant; (b) involve any conduct or transaction that may be subject topenalties or other relief under the competition and fair tr-ading laws administered and enforced by the other Participa-nt, other than mergers or acquisitions, carried out whollyor in part in the territory of such Participant, except whe-re those activities are insubstantial; (c) involve a merger or acquisition in which one or more of theParticipants to the transaction, or a company controlling one or more of the Participants to the transaction, is a co-mpany incorporated or organised under the laws of the otherParticipant's territory; and (d) involve a Participant seeking information located in otherParticipant's territory. 3.Each Participant will endeavour to give notification pursuantto this Paragraph when a Participant becomes aware that notif-iable circumstances are present. 4.Notifiable circumstances, with respect to mergers or acquisit-ions, are present: (a) when pre-merger notification is received by the Taiwan FairTrade Commission under Article II of the Fair Trade Law; (b) when an application for authorisation is received by the Au-stralian Competition and Consumer Commission under Part VIIof the Trade Practices Act 1974; and (c) when the New Zealand Commerce Commission receives pre-mergernotification, such notice being at the discretion of the me-rging parties. Once a particular enforcement matter has beennotified, subsequent notifications on that matter need notbe made unless the notifying Participant becomes aware of new issues bearing upon the important interests of the juri-sdiction of the notified Participant in the application ofits competition and fair trading laws, or unless the notifi-ed Participant requests otherwise. |