Commonwealth Numbered Acts

TRADE PRACTICES REVISION ACT 1986 No. 17 of 1986 - SECT 59

59. (1) Section 90 of the Principal Act is amended by inserting in sub-section
(9) "or in respect of the acquisition of a controlling interest in
a body corporate within the meaning of section 50A" after "body corporate".

(2) Section 90 of the Principal Act is amended by omitting sub-section (11)
and substituting the following sub-section:

"(11) Subject to sub-sections (12), (13) and (15), if the Commission does not
determine an application for an authorisation under sub-section 88 (9) within-

   (a)  45 days from the day on which the application is received by the
        Commission; or

   (b)  if the Commission, before the end of that period of 45 days, gives to
        the applicant a notice in writing requesting the applicant to give to
        the Commission additional information relevant to the determination of
        the application-the period consisting of 45 days from the day on which
        the application is received by the Commission increased by the number
        of days in the period commencing on the day on which the notice is
        given to the applicant and ending on the day on which the applicant
        gives to the Commission such of the additional information as the
        applicant is able to provide, the Commission shall be deemed to have
        granted, at the end of that period, the authorisation applied for.".

(3) Sub-section 90 (11) of the Principal Act as amended by this Act applies
only in respect of applications made to the Commission after the commencement
of this sub-section.