Scope
(1) This section applies if:
(a) a person gives the ACCC a variation of a standard functional separation undertaking; or
(b) 2 or more persons give the ACCC a variation of a joint functional separation undertaking.
Decision to accept or reject variation
(2) After considering the variation, the ACCC must:
(a) accept the variation; or
(b) reject the variation.
Notice of decision
(3) If the ACCC accepts the variation, the ACCC must give the person or persons a written notice:
(a) stating that the variation has been accepted; and
(b) setting out the terms of the variation.
(4) If the ACCC rejects the variation, the ACCC must give the person or persons a written notice:
(a) stating that the variation has been rejected; and
(b) setting out the reasons for the rejection.
ACCC to make decision within 3 months
(5) The ACCC must take all reasonable steps to ensure that a decision about the variation is made under subsection (2) within 3 months after receiving the variation.
(6) In calculating the 3 - month period referred to in subsection (5), disregard:
(a) a day in the period:
(i) beginning on the day on which the ACCC published the variation under section 151U; and
(ii) ending at the end of the time limit specified by the ACCC when it published the variation under section 151U; and
(b) if the ACCC has requested further information under section 151R in relation to the variation--a day during any part of which the request, or any part of the request, remains unfulfilled.
Extension of decision - making period
(7) The ACCC may, by written notice given to the person or persons, extend the 3 - month period referred to in subsection (5) (the initial 3 - month period ), so long as:
(a) the extension is for a period of not more than 3 months; and
(b) the notice includes a statement explaining why the ACCC has been unable to make a decision on the variation within the initial 3 - month period.
(8) As soon as practicable after the ACCC gives a notice under subsection (7), the ACCC must publish a copy of the notice on the ACCC's website.