Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Amendment Regulations, 2019

Aug 14, 2019 | by Avantis RegTech Legal Research Team

The Competition Commission of India (CCI) on August 13, 2019, has published the Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Amendment Regulations, 2019, to further amend the Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Regulations, 2011.

The following amendments in the Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Regulations, 2011 are as under:

Ø  Regulation 5A: Notice for approval of combinations under Green Channel:

(1)    The parties to the category of combination may, at their option, give notice in Form I with the declaration.

(2)    Upon filing of a notice and acknowledgement thereof, the proposed combination shall be deemed to have been approved by the Commission:

Provided that where the Commission finds that the combination does not fall under Schedule III and/or the declaration filed is incorrect, the notice given and the approval granted shall be void ab-initio and the Commission shall deal with the combination in accordance with the provisions contained in the Act:

Provided further that the Commission shall give to the parties to the combination an opportunity of being heard before arriving at a finding that the combination does not fall under Schedule III and/or the declaration filed is incorrect.

Ø  In Regulation 13 which specifies the procedure for filing notice:

a)      Sub-regulation (1A) has been substituted;

b)      Sub-regulation (1B) has been omitted.

Ø  Under Schedule II, Form I has been substituted

Ø  Schedule III and Schedule IV has been inserted for Regulation 5A which talks about the Notice for approval of combinations under Green Channel.

They shall come into force on August 15, 2019.

 

[Notification F.No. CCI/CD/Amend/Comb. Regl./2019]


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