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CCI amends combination Regulation to expedite disposal of Combination cases

THE COMPETITION COMMISSION OF INDIA

NOTIFICATION

New Delhi, the 9th October, 2018

The Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Amendment Regulations, 2018

F. No. CCI/CD/Amend/Comb.Regl./2018.—In exercise of the powers conferred by section 64 of the Competition Act, 2002 (12 of 2003), the Competition Commission of IndiaB hereby makes the following regulations further to amend the Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Regulations, 2011, namely:— 1. Short title and commencement.— (1) These regulations may be called the Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Amendment Regulations, 2018. (2) They shall come into force on the date of their publication in the Official Gazette.

2. In the Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Regulations, 2011,—

(1)in regulation 2, in sub-regulation (3), for the words, figures and brackets “ Companies Act, 1956 (1 of 1956)”, the following shall be substituted, namely:- “Companies Act, 2013 (18 of 2013)”;

(2)in regulation 5,-

(a) in proviso to sub-regulation (4), after the words “period provided in”, the following shall be inserted, namely:- “sub-section (2A) of section 6 of the Act,”;

(b) in proviso to sub-regulation (6), after the words “period provided in”, the following shall be inserted, namely:- “sub-section (2A) of section 6 of the Act,”;

(c) in sub-regulation (7),

(i) in clause (c), the words and figures “registered under the Companies Act, 1956” shall be omitted;

(ii) in clause (d), the words, brackets and figures “or a Government company as defined in section 617 of the Companies Act, 1956 (1 of 1956)” shall be omitted;

(3) in regulation 9, in proviso to sub-regulation (2), after the words “period provided in”, the following shall be inserted, namely:-

“sub-section (2A) of section 6 of the Act,”;

(4) in regulation 14,-

(a) in sub-regulation (2A),-

(i) for the words “seven days”, the following words shall be substituted, namely:- “seven working days”;

(ii) in the second proviso, after the words “period specified in”, the following shall be inserted, namely:- “sub-section (2A) of section 6 of the Act,”;

(b) in the proviso to sub-regulation (5), after the words “period provided in”, the following shall be inserted, namely:-

“sub-section (2A) of section 6 of the Act,”;

(5) in regulation 16, in sub-regulation (5), for the word “seven days”, the following words shall be substituted, namely:-

“seven working days”;

(6) after regulation 16, the following regulation shall be inserted, namely:-

“16A. Withdrawal and refiling of notice.

(1) At any time prior to the issuance of notice under sub-section (1) of section 29 of the Act, the Commission may on the request of the parties to the combination allow withdrawal and refiling of the notice given under regulation 5 or regulation 8 of these regulations.

(2) In case of withdrawal of notice under sub-regulation (1), the fee already paid in respect of such notice shall be adjusted against the fee payable in respect of new notice given by the parties to the combination provided the new notice is given within three months from the date of withdrawal.”;

(7) in regulation 19, for sub-regulation (2), the following sub-regulation shall be substituted, namely:-

“(2) Before the Commission forming an opinion under sub-section (1) of section 29 of the Act, the parties to the combination may offer modification to the combination and on that basis, the Commission may approve the proposed combination under sub-section (1) of section 31 of the Act:

Provided that where modification is offered by the parties to the combination, the additional time, not exceeding fifteen days, needed for evaluation of the offered modification, shall be excluded from the period provided in sub-regulation (1) of this regulation, sub-section (2A) of section 6 of the Act and sub-section (11) of section 31 of the Act.”;

(8) in regulation 25, after sub-regulation (1), the following sub-regulation shall be inserted, namely:-

“(1A) Along with their response to the notice issued under sub-section (1) of section 29 of the Act, the parties to the combination may offer modification to address the prima facie concerns in the said notice and on that basis, the Commission may approve the proposed combination under sub-section (1) of section 31 of the Act:

Provided that in such a case, the additional time, not exceeding fifteen days, needed for evaluation of the modification offered, shall be excluded from the period provided in sub-section (2A) of section 6 of the Act, sub-section (2) of section 29 of the Act and subsection (11) of section 31 of the Act.”;

(9) in regulation 27, for sub-regulation (1), the following sub-regulation shall be substituted, namely:-

“(1) Where the Commission is of the opinion that the implementation of the mcciodifications to the proposed combination needs supervision, it may appoint agencies to oversee such implementation, on such terms and conditions as may be determined by the Commission.”.

SMITA JHINGRAN, Secy.

[ADVT.-III/4/Exty./301/18]

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