S.I. No. 135/1993 - Mergers, Take-Overs and Monopolies (Control) Act, 1978 (Section 2) Order, 1993.

S.I. No. 135 of 1993.

MERGERS, TAKE-OVERS AND MONOPOLIES (CONTROL) ACT, 1978 (SECTION 2) ORDER, 1993.

I, RUAIRÍ QUINN, Minister for Enterprise and Employment, 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 Industry and Commerce (Alteration of Name of Department and Title of Minister) Order, 1993 ( S.I. No. 19 of 1993 ), make the following Order:

1. This Order may be cited as the Mergers, Take-overs and Monopolies (Control) Act, 1978 (Section 2) Order, 1993.

2. Section 2 of the Mergers, Take-overs and Monopolies (Control) Act, 1978 is hereby amended by the substitution, in subsection (1), of "£10,000,000" and "£20,000,000" for the amounts inserted by the Mergers, Take-overs and Monopolies (Control) Act, 1978 (Section 2) Order, 1985 ( S.I. No. 230 of 1985 ), being "£5,000,000" and "£10,000,000" respectively.

GIVEN under my Official Seal, this 21st day of May, 1993.

RUAIRÍ QUINN,

Minister for Enterprise and

Employment.

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 (as amended). 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.