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Application of Act.
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2.—(1) (a) This Act shall apply to a proposed merger or take-over if in the most recent financial year the value of the gross assets of each of two or more of the enterprises to be involved in the proposal is not less than £1,250,000 or the turnover of each of those two or more enterprises is not less than £2,500,000.
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(b) For the purposes of this subsection, “turnover” does not include any payment in respect of value-added tax on sales or in respect of duty of excise.
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(2) This Act shall apply to a monopoly where in the most recent financial year the monopoly's sales or purchases of the goods or services concerned exceed £1,500,000.
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(3) This Act shall not apply to enterprises coming under common control where this occurs solely as a result of a testamentary disposition or an intestacy.
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(4) The Minister may from time to time by order amend subsection (1) or subsection (2) by the substitution for an amount mentioned in that subsection of another amount, not being in any case a smaller amount than the amount for which it is substituted.
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(5) (a) Where he is of opinion that the exigencies of the common good so warrant, the Minister may by order declare that, notwithstanding subsection (1), this Act shall apply to a proposed merger or take-over of a particular class specified in the order and, upon the making of such an order, this Act shall apply to a proposed merger or take-over of that class.
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(b) The Minister may by order amend or revoke an order under this subsection.
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(6) Every order under this section shall have effect on and from the date on which it is made and shall be laid before each House of the Oireachtas as soon as may be after it is made and, if a resolution confirming the order is not passed by each such House within the next 21 days after each House has sat after the order is laid before it, the order shall lapse, but without prejudice to the validity of anything previously done thereunder.
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