Jersey Introduces Turnover-Based Merger Control Regime from 1 November 2026, Replacing Share of Supply Test

From 1 November 2026, Jersey replaced its existing merger control framework with a new regime based on an objective turnover test. Under the previous framework, the Jersey Competition Regulatory Authority (JCRA) applied a share of supply test to determine whether a transaction required notification. The new regime triggers a notification obligation where a merger or acquisition meets defined turnover thresholds, aligning Jersey's approach more closely with the model used in most major European jurisdictions. The change moves Jersey away from the share of supply model, which is also used by the UK's Competition and Markets Authority for its Phase 1 jurisdictional assessment (alongside a turnover test), towards a turnover-based trigger, though the JCRA retains a call-in power to review mergers that fall below the thresholds. Turnover tests are generally considered more objective and predictable for transacting parties because they can be calculated from financial statements rather than requiring a market-share analysis that may be contested. The reform is relevant to cross-border transactions with Jersey-domiciled entities, including the significant number of investment funds, holding companies, and financial services businesses incorporated or registered in Jersey that are involved in international M&A activity.