3. The Fair Trade Act addresses numerous types of mergers. Where filing is duly required for a particular merger, which company is responsible for filing?
According to Article 8 of the Enforcement Rules of the Fair Trade Act, a report of a merger of enterprises required by Article 11(1) of this Act shall be filed:
- The enterprises participating in the merger, where an enterprise is merged into another, assigned by or leases from another enterprise(s) the operations or assets of another, jointly operates on regular basis with another, or is commissioned by another enterprise to run operation.
- The enterprise that holds or acquires the shares or capital contributions of another enterprise. However, it shall be the enterprise with ultimate control if there are control or affiliation relations between the holding or acquiring enterprises, or the holding or acquiring enterprises are controlled by the same enterprise or a group of enterprises.
- The controlling enterprise, where an enterprise directly or indirectly controls the business operations or the appointment or discharge of personnel of another enterprise.
If an enterprise required to file a merger has not yet been established, the existing enterprises participating in the merger shall file.
Relevant article(s) of law: Fair Trade Act, Article 11; Enforcement Rules of the Fair Trade Act, Article 8
Updated at：2016-02-22 11:17:52