S.I. No. 230/1985 - Mergers, Take-Overs and Monopolies (Control) Act, 1978 (Section 2) Order, 1985.

S.I. No. 230 of 1985.

MERGERS, TAKE-OVERS AND MONOPOLIES (CONTROL) ACT, 1978 (SECTION 2) ORDER, 1985.

I, JOHN BRUTON, Minister for Industry, Trade, Commerce and Tourism, in exercise of the powers conferred on me by section 2 (4) of the Mergers, Take-overs and Monopolies (Control) Act, 1978 (No. 17 of 1978), as adapted by the Trade, Commerce and Tourism (Alteration of Name of Department and Title of Minister) Order, 1983 ( S.I. No. 384 of 1983 ), hereby order as follows:

1. This Order may be cited as the Mergers, Take-overs and Monopolies (Control) Act, 1978 (Section 2) Order, 1985.

2. Section 2 of the Mergers, Take-overs and Monopolies (Control) Act, 1978 (No. 17 of 1978), is hereby amended—

(a) by the substitution of "£5,000,000" and "£10,000,000" for "£1,250,000" and "£2,500,000", respectively, in subsection (1) and

(b) by the substitution of "£6,000,000" for "£1,500,000" in subsection (2).

GIVEN under my Official Seal, this 8th day of July, 1985.

JOHN BRUTON,

Minister for Industry,

Trade, Commerce and Tourism.

EXPLANATORY NOTE.

The effect of this Order is to increase the financial thresholds specified in Section 2 of the Mergers, Take-overs and Monopolies (Control) Act, 1978 . Section 2 of the Act indicates the size of enterprises in financial terms to which the Act applies.

While the Order is effective from the date of its signature, it is nevertheless required under Section 2 (6) of the Act to be confirmed by a resolution of each House of the Oireachtas within 21 sitting days in each case.