asked the Minister for Industry and Commerce if the Government intend to proceed with proposals for regulating take-over bids for vital elements of Irish industry in the national interest; and if he will make a statement on the extent to which such measures of national control can be reconciled with the State's obligations under the EEC.
Ceisteanna—Questions. Oral Answers. - Take-Over Bids.
62.
As the Deputy is aware, I have introduced the Restrictive Practices (Amendment) Bill, 1972 in the Dáil. The Bill will empower me to make orders providing for the prohibition of a proposed merger or take-over or, in the case of a monopoly, completed merger or take-over, for the division of any trade or business by a sale of assets or otherwise, where the arrangement results or is likely to result in unfair restriction of competition. There is nothing in the Bill which would be at variance with EEC requirements. I am considering a further Bill to provide for the control of mergers and take-overs by reference to considerations of importance other than competition. Before such further legislation is introduced, it will be necessary to have consultation with the Commission of the European Communities to ensure that it is in conformity with this country's obligations to the Communities.