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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The merging parties shall submit periodic compliance reports and relevant 
market data to the Authority for a period to be specified in the approval 
decision or guideline. Such data may include: 
 
(a) 
Pricing structures and changes; 
 
(b) 
Volumes of output, throughput, or storage; 
 
(c) 
Customer numbers and regional supply footprints; 
 
(d) 
Market share estimates and competitor dynamics; 
 
(e) 
Evidence of compliance with access or conduct remedies. 
 
(4) The Power of the Authority to Reopen Review 
The Authority reserves the power to reopen the merger review process where: 
 
(a) 
There is evidence of non-compliance with approved conditions; 
 
(b) 
The merger produces material and unforeseen anti-competitive 
effects; 
 
(c) 
New facts or market developments emerge that alter the basis of 
the original assessment. 
 
(5) Modification of Conditions and New Remedies 
Where appropriate, the Authority may: 
 
(a) 
Modify, extend, or replace existing conditions; 
 
(b) 
Impose new structural or behavioural remedies; 
 
(c) 
Require additional undertakings to restore or protect competition; 
 
(d) 
In severe cases, initiate proceedings to unwind or partially reverse 
the merger. 
(6) Sanctions for Non-Compliance 
Any breach of merger approval conditions shall be treated as a regulatory 
offence, and may attract administrative sanctions, including: 
 
(a) 
Monetary penalties; 
 
(b) 
Public warning or censure; 
 
(c) 
Suspension or withdrawal of licenses or approvals; 
 
(d) 
Orders for corrective action or appointment of a monitoring 
trustee. 
(7) Supplementary Guidelines 
The Authority may issue further guidelines specifying the format and frequency 
of post-merger reporting, monitoring procedures, and criteria for reopening 
merger reviews. 
 
 
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  
Pursuant to Section 211(2) of the Act, the Authority may, upon written 
application and following a reasoned decision, authorise conduct or 
agreements that may otherwise contravene Section 211(1) of the Act and 
these Regulations, provided that: