Approving and Adopting the 2017 Rules on Merger Procedure

November 9, 2017

PCC RESOLUTION NO. 026-17

APPROVING AND ADOPTING THE 2017 RULES ON MERGER PROCEDURE

WHEREAS, on 21 July 2015, the Philippine Competition Act ("PCA") was signed into law, which provides for a national competition policy prohibiting anti-competitive agreements, abuse of dominant position, and anti-competitive mergers and acquisitions, and which creates the Philippine Competition Commission ("PCC" or the "Commission") to attain the PCA's objectives and purposes;

WHEREAS, to effectively implement the competition policy and attain the objectives of the PCA, there is a need for the Commission to promulgate the Rules on Merger Procedure of the PCC ("Merger Rules") which would govern the procedure for the investigations, hearings, and proceedings of the Commission relating to mergers and acquisitions;

WHEREAS, upon completion of the draft Merger Rules on 27 July 2017, the Commission published said draft in its website and invited comments from the public;

WHEREAS, the Commission held a public consultation on the draft Merger Rules on 14 August 2017 at Pasig City wherein stakeholders such as various business sectors, sector regulators, government departments and agencies, the judiciary, local government units, non-government organizations, the academe, law firms, and other stakeholders were invited to provide comments and ask clarificatory questions on the draft Merger Rules;

WHEREAS, the draft Merger Rules, as revised for key comments and questions raised during the various public consultations, was presented for approval of the Commission in its regular meeting on 9 November 2017.

NOW, THEREFORE, the Commission has RESOLVED, as it hereby RESOLVES, to approve and adopt the Merger Rules, as presented to the Commission during its regular meeting on 9 November 2017. The Merger Rules shall take effect fifteen (15) days following its publication in a newspaper of general circulation. CAIHTE

DONE this 9th day of November 2017 in the City of Pasig, Philippines.

(SGD.) ARSENIO M. BALISACANChairman

(SGD.) JOHANNES BENJAMIN R. BERNABECommissioner

(SGD.) STELLA LUZ A. QUIMBOCommissioner

(SGD.) AMABELLE C. ASUNCIONCommissioner

ATTACHMENT

PCC Rules on Merger ProcedureNovember 9, 2017