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Cite as: [1999] IECA 558
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Sanbra Fyffe Ltd / Share Purchase Agreement [1999] IECA 558 (21st June, 1999)
COMPETITION
AUTHORITY
Competition
Authority Decision of 21 June 1999 relating to a proceeding under Section 4 of
the Competition Act, 1991
Notification
No. CA/228/92E - Sanbra Fyffe Ltd/Share Purchase Agreement
Decision
No. 558
Price £0.20
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Competition
Authority Decision of 21 June 1999 relating to a proceeding under Section 4 of
the Competition Act, 1991.
Notification
No. CA/228/92E - Sanbra Fyffe Ltd/Share Purchase Agreement
Decision
No. 558
Introduction
1.
Notification was made by Sanbra Fyffe Ltd on 30 September 1992 with a request
for a certificate under Section 4(4) of the Competition Act, 1991 or, in the
event of a refusal by the Competition Authority to grant a certificate, a
licence under Section 4(2) in respect of a Share Purchase Agreement relating to
a management buy out of shares in Sanbra Fyffe (1976) Ltd (Sanbra Fyffe).
The
Decision
2.
The Competition Authority considers that, on the basis of the facts in its
possession, the share purchase agreement (Notification No. CA/228/92E) between
Sanbra Fyffe Ltd and others, has expired. The agreement in question was in
existence at the time the Competition Act, 1991 came into force. The Authority
has set out in Decision No. 527 its reasons for concluding that where such an
agreement has terminated, a decision to issue or not to issue a certificate has
no legal consequences and, by virtue of Section 7(3), no licence can now be
awarded for the period during which the agreements operated. The Authority
has, therefore, decided to close the file without considering whether or not
the agreement merits a certificate or licence.
For
the Competition Authority,
Professor
Patrick McNutt
Chairperson
21
June 1999
© 1999 Irish Competition Authority