Library / PETROLEUM INDUSTRY ACT, NO. 6, 2021 MIDSTREAM AND DOWNSTREAM PETROLEUM PREVENTION OF ANTICOMPETITIVE PRACTICES AND BEHAVIOUR REGULATIONS, 2026 ARRANGEMENT OF REGULATIONS

PETROLEUM INDUSTRY ACT, NO. 6, 2021 MIDSTREAM AND DOWNSTREAM PETROLEUM PREVENTION OF ANTICOMPETITIVE PRACTICES AND BEHAVIOUR REGULATIONS, 2026 ARRANGEMENT OF REGULATIONS

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PART XI – APPROVAL OF MERGERS, ACQUISITIONS, CROSS-OWNERSHIP AND 
SIGNIFICANT JOINT VENTURES 
 
 49. Prohibition of Unapproved Merger, Acquisition of interest, or changes in 
control and Joint Venture 
 50. Application for Approval of Merger, Acquisition of interest, or changes in 
control and Joint Venture 
 51. Assessment of the Application by the Authority 
 52. Interim Measures and Hold-Separate Orders 
 53. Decision of the Authority on the Review of Mergers, Acquisitions or Transfer 
of interest  
 54. Prohibition of Gun-Jumping and Sanctions for Unapproved Mergers, 
Acquisitions or Transfer of interest 
 55. Post-Merger Approval Monitoring, Compliance, and Review Powers 
 
PART XII – PROCEDURE FOR OBTAINING THE APPROVAL OF THE AUTHORITY IN 
THE NATIONAL INTEREST OR FOR MARKET FUNCTIONALITY 
 
56. Approval by the Authority based on the National Interest or for Market 
Functionality  
 57. Application for Approval 
 58. Content of Application 
 59. Assessment Criteria for National Interest 
 60. Assessment Criteria for Preserving or Promoting Benefits of a Functional and 
Effective Competitive Market 
 61. Procedure for Review and Determination of Applications 
 62. Grant of Written Approval and Imposition of Terms and Conditions  
 63. Issuance of Directions to Prevent or Mitigate Unlawful Exercise of Market 
Power  
 64.  Withdrawal of Approval  
 65. Procedure for Withdrawal of Approval 
 66. Effects Terms and Conditions of Withdrawal 
 67. Register of Exemptions 
 68. Prohibition of Hardcore Restrictions 
 
PART XIII – MARKET MONITORING AND SURVEILLANCE, INVESTIGATION, AND 
DETERMINATION OF ANTI-COMPETITIVE BEHAVIOUR 
 
 69. Market Monitoring and Surveillance 
 70. Scope of Monitoring Activities 
 71. Licensee Reporting Obligations 
 72. Market Surveillance Focus Areas 
 73. Market Reporting and Transparency 
 74. Enforcement Support Function