1. The Ministry, the Concerned Authority, or the Sectoral Regulatory Authority, as the case may be, shall conduct a formal examination of the application for approval of the Economic Concentration transaction and the supporting documents within ten (10) working days, which may be extended for a similar period. Upon completion of such examination, a notice shall be issued to the Parties to the Economic Concentration confirming completion of the formal examination of the application. 2. Subject to Article (14) of the Decree by Law, where the required documents are incomplete or insufficient information has been submitted, the Ministry, the Concerned Authority, or the Sectoral Regulatory Authority, as the case may be, may request the submission of additional documents within a period to be specified thereby, provided that such period does not exceed ten (10) working days from the date of notification. 3. Following notification of the Parties to the Economic Concentration pursuant to Clause (1) of this Article, the Ministry, the Concerned Authority, or the Sectoral Regulatory Authority, as the case may be, shall conduct a substantive review of the application to assess its positive or negative impact on the overall balance of the Relevant Market and the proper functioning of its mechanisms in accordance with the principles of free competition, based on evaluative criteria for the assessment of Economic Concentration transactions, including the following: a. The type and nature of the proposed Economic Concentration. b. The branches of the Parties to the Economic Concentration and any undertakings financially and economically affiliated therewith, if any. c. The activities of the Parties to the Economic Concentration and their branches. d. The market shares of the Parties to the Economic Concentration and the identification of their principal customers and the customers' shares within the Relevant Market(s). e. Identification of the competitors of the Parties to the Economic Concentration and their market shares in the Relevant Market(s). f. The extent to which the economic concentration is likely to result in the creation of a Dominant Position for the parties thereto in the Relevant Market upon completion of the Economic Concentration transaction. g. The extent to which the products and services provided by the Parties to the Economic Concentration may be substituted by products and services available in the Relevant Market. h. The price levels of products or services in the Relevant Market. i. The likelihood that the Economic Concentration transaction may affect the prices of the relevant products or services and consumer interests. j. Measuring the degree of concentration in the Relevant Market(s), before and after the Economic Concentration transaction. k. The likelihood that the Economic Concentration transaction may affect the entry of new economic establishments into the relevant market(s), expansion therein, or their exit therefrom. l. The extent to which there are legal restrictions on the conduct of the economic activities concerned by the Economic Concentration transaction.
Interpretation and application must be checked against the official text and current version.