This guidance has been authored by Jane Garber-Rosenzweig, Principal, Gable Lawyers. This form is part of a suite of commercial transaction documents prepared with the assistance of Specialist Editor Murray Landis, Partner, K&L Gates.
Form C – “Covenants affecting competition” is a form produced by ACCC pursuant to subsection 88(5) of the Competition and Consumer Act 2010 (Cth) (Act) in order for an applicant to apply for authorization of conduct otherwise prohibited by the Act.
This guidance note provides some tips and assistance in completing Form C.
This Form should be used if the applicant requires provision of a covenant where the proposed covenant would have the purpose, or would have or might have the effect, of substantially lessening competition. If a contract, arrangement or understanding contains a condition which may constitute a cartel provision or provision which would have the purpose or the effect of substantially lessening competition in the market place, then Form B should be used instead.
Any supporting documents must be included with the Form upon lodgement with ACCC.
On the front page, please read 2 statements listed and strike out the statement which is not applicable. Item 1(a) must contain the applicant, therefore, if the applicant is a corporation, the details of the corporation must be included in this item.
Full details of the proposed covenant in relation to which the authorisation is sought must be provided, together with any written materials available, a list of public benefits, market likely to be affected and any detriment to the public.
Where the application also applies to other covenants which are or will be similar to the main covenant referred to in the application, details must be provided of the manner in which the similar covenants vary in their terms from the main covenant referred to in the application.
Please review directions at the end of Form C.