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that the parties and the divestiture trustee must inform the Board
periodically and that the divestiture trustee must submit a final
report to the Competition Board at the time of closing.
Divestiture Trustee.
The divestiture trustee oversees the procedure on
behalf of the Board. Because of this, the trustee is appointed by the parties
and submitted for the approval of the Board within the shortest possible
time following the conditional clearance decision of the Board. This time
cannot be more than thirty days unless there is just cause for lateness.
The parties will bear all the costs of the divestiture trustee regarding the
processes of the divestiture.
The divestiture trustee will oversee the independent preservation of
the business in the interim period and its transfer to a suitable purchaser
under the conditions stated in the commitment.
The role of the divestiture trustee is terminated upon the submission
of the document approving the closing of the divestiture procedure after
the commitment is completely and correctly implemented.
Implementation of Commitments other than Divestiture
.
The
Guidelines Project stipulates that the dispositions regarding divestiture
commitment are to be taken into consideration for other commitments, if
applicable.
The Guidelines Project, being in conformity with the Communication,
stipulates also the grounds for arbitration, which will ensure
implementation of the commitments by the market actors themselves and
allow for the settlement of disputes between the parties and third persons
in the phases of appointment of a trustee to oversee implementation of the
behavioral commitments and implementation of the commitments.
Conclusion
The Guidelines Project enables
ex post
protection of competition
instead of
ex ante
protection. Due to this fact, it must include all possible
cases in practice and regulate in details the control of the commitments.