Australia is set to overhaul its competition policy with a mandatory notification rule for mergers and acquisitions (M&A), specifically targeting unfair company mergers. This move, initiated by the Labor government and aimed at requiring large companies planning a takeover to first seek clearance from the Australian Competition and Consumer Commission (ACCC), will have the authority to block small deals that could potentially entrench a dominant market position. The policy revision, intended to speed up approvals and boost competition, was announced by Treasurer Jim Chalmers. The ACCC has welcomed the Treasurer's announcement, highlighting that the proposed reforms will better address issues related to serial acquisitions and involve mandatory notification for merger deals above specific thresholds.