S.I. No. 45/1996 - Proposed Merger Or Take-Over Prohibition Order 1996.

S.I. No. 45 of 1996.

PROPOSED MERGER OR TAKE-OVER PROHIBITION ORDER 1996.

I, RICHARD BRUTON, Minister for Enterprise and Employment, having considered the report of the Competition Authority under section 8 (1) of the Mergers, Take-overs and Monopolies (Control) Act, 1978 (No. 17 of 1978), as amended by the Restrictive Practices (Amendment) Act, 1987 (No. 31 of 1987) and the Competition Act, 1991 (No. 24 of 1991), of its investigation of the proposed merger or take-over involving the following enterprises, that is to say Statoil Ireland Limited and Conoco Ireland Limited, being the proposed merger or take-over of which I was notified under section 5 of the first mentioned Act on the 9th day of November 1995, having complied with section 9 (3) of the said first-mentioned Act, and thinking that the exigencies of the common good so warrant, hereby, in exercise of the powers conferred on me by section 9 of the said Mergers, Take-over and Monopolies (Control) Act, 1978, as adapted by the Industry and Commerce (Alteration of Name of Department and Title of Minister) Order, 1993 ( S.I. No. 19 of 1993 ), make the following Order:

1. This Order may be cited as the Proposed Merger or Take-over Prohibition Order, 1996.

2. In this Order "the take-over" means the proposed merger or take-over involving the following enterprises, that is to say, Statoil Ireland Limited and Conoco Ireland Limited, of which the Minister was notified pursuant to section 5 of the Mergers, Take-overs and Monopolies (Control) Act, 1978 (No. 17 of 1978) on the 9th day of November, 1995.

3. The take-over is hereby prohibited.

4. The reasons for making this Order are that the Minister considers that, if the take-over were effected, it would operate against the common good, and that, in particular, competition in the market for motor fuels within the State could be so restricted as to operate against the common good.

GIVEN under my Official Seal, this 16th day of February. 1996.

RICHARD BRUTON,

Minister for Enterprise and Employment.

EXPLANATORY NOTE.

The effect of this Order is to prohibit the proposal whereby Statoil Ireland Limited would acquire Conoco Ireland Limited.

The Order is effective from the date of its signature but may be annulled by a resolution of either House of the Oireachtas within 21 sitting days in either case.