Competition Commission of India (CCI) has amended the Combination Regulations

What is Important?
UPSC perspective:
Mains: Features, functions and significance, Key features of the Competition Act.
Non-UPSC perspective:Not Much
Why in News?
The Competition Commission of India (CCI) has amended the Combination Regulations. This amendment inter alia provide certainty & transparency and expedites faster disposal of combination cases before CCI.

Recent amendments:
*The provisions of the Competition Act, 2002 (“Act”) relating to the regulation of combinations as well as the Combination Regulations have been in force with effect from 1st June 2011.
*The amendment will now allow combining parties to submit remedies in response to the show-cause notice issued on the apprehension of adverse impact on competition.
“A key change brought about by the present amendments is that the parties to combinations can now submit remedies voluntarily in response to the notice issued under Section 29(1) of the Act.
“If such remedies are considered sufficient to address the perceived competition harm, the combination can be approved. This amendment is expected to expedite disposal of such combination cases,” the CCI said in a statement.
*As per Section 29(1) of the Competition Act, 2002, the Commission can issue a show-cause notice to the combining parties if it views the merger will have an adverse effect on competition. The parties are to respond within 30 days of the notice
Competition Commission of India (CCI)
*The objectives of the Act are sought to be achieved through the Competition Commission of India (CCI), which has been established by the Central Government with effect from 14th October 2003.
* CCI consists of a Chairperson and 6 Members appointed by the Central Government.
*It is the duty of the Commission to eliminate practices having adverse effect on competition, promote and sustain competition, protect the interests of consumers and ensure freedom of trade in the markets of India.
*The Commission is also required to give opinion on competition issues on a reference received from a statutory authority established under any law and to undertake competition advocacy, create public awareness and impart training on competition issues.
Competition Commission of India (CCI) has amended the Combination Regulations Competition Commission of India (CCI) has amended the Combination Regulations Reviewed by The Hindu Current Affairs on October 12, 2018 Rating: 5

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