Competition Law Executive Regulation

Article 12 — Article (12) Withdrawal of an Application for Approval of an Economic Concentration Transaction

1. A Party to the Economic Concentration that has submitted an application for approval of an Economic Concentration transaction pursuant to Article (11) of this Resolution may, during the initial review period, withdraw the application after its submission, in which case the application shall be deemed cancelled. 2. Any fees collected in consideration of the submission of an application relating to an Economic Concentration transaction shall not be refunded by the Ministry, the Concerned Authority, or the Sectoral Regulatory Authority, as the case may be.

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