From www.claytonutz.com: The new mandatory merger control regime in Australia introduces a “gun jumping” prohibition, requiring parties to avoid any actions that may implement a merger before receiving clearance from the ACCC.

Transactions not closed before January 1, 2026, will be subject to this regime, which also expands the scope of conduct that may constitute “putting into effect” a merger.

Violations of the standstill obligation can incur significant penalties, emphasizing the need for vigilance and compliance by merger parties.