European Commission draft Best Practices on the Conduct of EC Merger Control Proceedings

ICC therefore welcomes the opportunity to comment on the Commission's draft Best Practices on the Conduct of EC Merger Control Proceedings, dated 19 December 2002 (the "Best Practices").

In ICC's view, the key aims in adopting best practices on the conduct of merger control proceedings include:

• minimising transaction costs for business and ensuring a speedy procedure, through the achievement of the highest possible levels of efficiency on the part of notifying parties and the Commission without compromising fundamental principles of fairness and due process;

• ensuring transparency whilst protecting the confidentiality of the business interests of the notifying parties and third parties; and

• enabling the Commission to undertake its review of transactions in a fair and non-discriminatory manner.

In formulating the following comments on the Best Practices, ICC has drawn on existing practice and has referred to its comments on the Green Paper on the review of the ECMR and the submission jointly prepared by ICC and the Business and Industry Advisory Committee to the OECD ("BIAC") dated 4 October 2001, providing a recommended framework for best practices in international merger control procedures.