asked the Minister for Industry and Commerce when the machinery for the control, in the public interest, of monopolies, mergers and foreign take-overs of Irish enterprises will be established.
Ceisteanna—Questions. Oral Answers. - Take-Over Control Machinery.
43.
I intend to introduce during the present session a Bill which will provide for the investigation and control of monopolies, mergers and take-overs. The Bill will empower me to prohibit a merger or take-over or, in the case of a monopoly, completed merger or take-over, to require the dissolution of any trade or business where the arrangement restricts or is likely to restrict competition in a manner contrary to the common good. The legislation will apply to any trade or business operating here whether Irish or foreign-owned.
I am also considering whether it is feasible to provide for control on grounds other than restriction of competition.
With the legislative programme to be covered within the next three weeks, can the Minister give an assurance that this legislation will see the light of day?
I said I proposed to introduce it during this session.
Will it be circulated before 20th July?
I hope so.
Question No. 44.
Major sectors of the distributive, retail and manufacturing industries are now merging and rationalising. Since this legislation is not likely to see the light of day until the end of July, and will not go through the House during this year, the situation is critical. The Minister's Department should provide some action in this matter.
Question No. 44.