To apply to CCCS for a decision of the merger or anticipated merger, fill out Form M1 and submit it to CCCS, together with the prescribed fee (see How much does it cost). You may also submit Form M2 (together with Form M1) if you consider that the merger is likely to go into a Phase 2 review. Once CCCS receives Form 1, it will conduct a preliminary assessment (Phase 1 review) which is expected to be completed within 30 working days.
The merger will be cleared at Phase 1 if CCCS is able to reach a favorable decision based on information collected during the Phase 1 review period. If CCCS still requires further information or clarifications at the end of the Phase 1 review, we will notify you that we have not reached a decision. You will then be asked to submit Form M2 if you have not already done so, so that we can proceed to conduct a more detailed assessment (Phase 2 review). We will stipulate a deadline within which you are to submit Form M2. Merger parties who are unable to comply with the deadline should request for an extension as soon as possible. If Form M2 is not submitted within the deadline or extension, we may determine the application by not giving a decision.
Once we receive Form 2, we aim to complete the Phase 2 Review within 120 working days.
You will note that we are required to get third party inputs about the transaction as part of our review in Phases 1 & 2. Therefore, if Form M1 or Form M2 and the supporting documents contain any information which you feel is confidential, a non-confidential version of the form or document must be submitted. Any confidential information removed from the non-confidential versions should be replaced by square brackets containing the word “CONFIDENTIAL”. The non-confidential version of each document must also be accompanied by a separate annex identifying the confidential information and explaining why the information should be treated as confidential. We may seek further clarification of these reasons. The non-confidential version will be used to seek inputs from third parties.
In the course of the application, CCCS may also request for further information over and above that required in Form M1 or Form M2. Failure to furnish the information may also result in CCCS exercising its discretion to determine the application without giving a decision.