The Australian Competition and Consumer Commission has received 50 merger notifications and 108 waiver applications in the first quarter of a new regime for assessing acquisitions.

Chair Gina Cass-Gottlieb says the arrangements, which started on January 1, increase understanding of consolidation patterns in different sectors.

“Although it is only early days, we are pleased with how the new regime is progressing,” she said.

“We consider that the early performance figures indicate that the systems and processes are working as intended, which is a positive start to the new regime.”

Merger notifications have included IAG’s proposed acquisition of RAC Insurance, with an initial assessment decision due by Friday.

Notifications under phase one are taking an average of 18 business days to approve, with those requiring further review moving into a second phase.

“Increased transparency is an important feature of the new regime, allowing stakeholders to see the acquisitions coming to the ACCC and the ACCC’s reasoning,” Ms Cass-Gottlieb said.

The arrangements add a streamlined waiver process for simpler acquisitions that do not raise material competition concerns.

If they are not waved through and meet certain thresholds, they need to be formally notified to the ACCC before going ahead.