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PART 2
Notification and Review of Transactions
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Notifiable transactions
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9. (1) A transaction is notifiable where it satisfies each of the following criteria:
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(a) a third country undertaking, or a person connected with such an undertaking, as a result of the transaction—
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(i) acquires control of an asset or undertaking in the State, or
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(ii) changes the percentage of shares or voting rights it holds in an undertaking in the State—
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(I) from 25 per cent or less to more than 25 per cent, or
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(II) from 50 per cent or less to more than 50 per cent;
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(b) the cumulative value of the transaction and each transaction between the parties to the transaction, or persons connected with third country undertakings that are parties to the transaction, in the period of 12 months before the date of the transaction is equal to or greater than—
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(i) where no amount stands prescribed under subsection (2), €2,000,000, or
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(ii) the amount that stands prescribed under subsection (2);
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(c) the same undertaking does not, directly or indirectly, control all the parties to the transaction;
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(d) the transaction relates to, or impacts upon, one or more of the matters referred to in points (a) to (e) of Article 4(1) of the Regulation.
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(2) The Minister may, where it is necessary to do so in order to—
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(a) provide for the more effective review of transactions under this Act,
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(b) respond to variations in economic, political or social conditions affecting transactions that, but for subsection (1)(b), would be notifiable, or
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(c) improve the security or public order of the State,
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prescribe an amount for the purposes of subsection (1)(b).
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