If you want to merge your business with an existing Australian company then you need to maintain the mergers and acquisitions law of the state. There are several regulations implemented by the government and you need to read such documents before you merge or buy a business in Australia. For example, Corporations Act 2001 is associated with the regulations and statutory laws, and all government policies regarding this matter are issued by the Australian Securities and Investments Commission (ASIC). Apart from that, there are separate set of laws implemented by the Australian government, such as Competition and Consumer Act 2010, Foreign Acquisitions and Takeovers Act 1975 and Income Tax Assessment Act 1977. You can find different authorities in Australia that are dealing with such regulations, like Australian Competition and Consumer Commission.
According to the Competition and Consumer Act 2010, mergers and acquisitions are strictly prohibited for the businesses which have the effect of sustainability lessening in a market in Australia. Apart from that, there are some industry specific mergers and acquisitions law available for banking, media and gaming and aviation sectors.
Are You A Foreign Buyer?
If you are living in another country and want to invest in Australia, then you will be treated as foreign buyer. In this case, you must maintain Australia’s foreign investment laws and you need to take the required permission from the Foreign Investment Review Board.
Different types of mergers and acquisitions law for different industry:
As stated above that there are industry specific mergers and acquisitions law available in Australia and you need to maintain the following acts to merge your business with an Australian company:
- If you want to merge or overtake any banking business in Australia, then you must maintain the Banking Act 1959. On the other part, for non-banking financial sectors, you need to follow the Financial Sector Act 1988 and Insurance Acquisitions Takeovers Act 1991.
- You can overtake any media house in Australia, or you can merge your business with a media or telecommunication business in Australia. In this regard, you need to maintain the Broadcasting Services Act 1992 for businesses related to media and Telecommunications Act 1997 for telecommunication businesses.
- If you are interested in energy and resources and want to invest in this sector in Australia then you need to maintain the mergers and acquisitions law implemented by State and Territory electricity, mining, and gas legislation.
- Apart from that, there are different set of mergers and acquisitions law like Airports Act 1996 available for aviation industry and Shipping Registration Act 1981 for cargo industry.
What type of services you need for maintaining mergers and acquisitions law?
There are some companies available that can help you to maintain the mergers and acquisitions law in Australia. They can provide legal support, financial advice, accounting and taxation services and public relation consulting for your business.
There are two ways to merge or takeover a business in Australia, such as off-market bids and scheme of arrangement. It will take three to four months to merge a business and you can take over a business in Australia within a month by a scheme of arrangement. But you need to know such mergers and acquisitions law of your specific industry and you must hire a company who can help you to set up your business in Australia.
So now you can search such services online and choose the best consultant for your business. Make sure, you must check their portfolio and niches. They are working on some specific industry and you must hire an experienced consultant for your business expansion.