Merging entities are not required to notify CCCS of the merger but should carry out their own self-assessment. If they are concerned about infringing the Act, they should notify the merger to CCCS. In such cases, CCCS will determine whether the merger will substantially lessen competition and will publish its decision.
In the event that a merger which may substantially lessen competition comes to the attention of CCCS, we have substantial investigation powers that can be exercised if there are reasonable grounds for suspecting that the Act has been infringed. In the event of an infringement, CCCS can impose substantial financial penalties of up to 10% of the turnover of the business in Singapore for each year of infringement, up to a maximum of 3 years. Directions to remedy, mitigate or eliminate the adverse effects arising from the merger may also be issued.