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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(a) such authorisation is necessary in the national interest, or 
(b) the conduct is required to preserve or enhance market functionality, and 
(c) the pro-competitive or public interest benefits demonstrably outweigh any 
potential harm to competition. 
 
57. Application for Approval 
(1) A licensee or other person or undertaking seeking authorisation shall submit 
a completed Notification/Exemption Request using the form prescribed in 
Schedule 2. 
(2) Applications shall be submitted in writing to the Authority. 
(3) Such approval shall constitute a legal exemption and shall be granted only 
where the pro-competitive or public interest benefits of the conduct clearly 
outweigh any potential harm to competition. 
 
58. Content of Application 
An application under Regulation 57 shall include: 
(a) Full details of the applicant(s). 
(b) A comprehensive description of the proposed conduct, agreement, or 
arrangement. 
(c) A detailed justification explaining how the proposed conduct meets the 
criteria in Regulation 56. 
(d) An assessment of the potential anti-competitive effects of the proposed 
conduct and any proposed measures to mitigate such effects. 
(e) Evidence supporting the claims made, including economic analysis, 
market data, and impact assessments. 
(f) The duration for which approval is sought. 
(g) Any proposed terms and conditions for the approval. 
(h) A declaration that all information provided is true and accurate. 
(i) A non-refundable application fee as may be prescribed by the Authority.  
 
59. Assessment Criteria for National Interest 
In assessing whether a proposed conduct is in the "national interest," the 
Authority shall consider, inter alia: 
(a) Contribution to energy security and reliability of supply of petroleum 
products. 
(b) Promotion of investment in critical midstream or downstream infrastructure. 
(c) Enhancement of indigenous participation and local content development. 
(d) Facilitation of responses to national emergencies or crises. 
(e) Significant positive impact on employment or regional development. 
(f) Promotion of innovation, research, and development in the petroleum 
sector. 
(g) Contribution to environmental sustainability or public safety objectives. 
(h) The extent to which the benefits to the national interest outweigh any 
potential harm to competition.