Amendments to the Competition Act, 2002

kartik_somu (B.Com, ACA, CISA, CIMA) (1665 Points)

15 March 2008  

The Competition (Amendment) Act, 2007 was passed on 24 September 2007 to


amend the Competition Act, 2002 (the Act). Amendments relating to


composition of Competition Commission of India (CCI), establishment of


Competition Appellate Tribunal, imposing of penalty and other administrative


powers/ changes etc. have been brought into effect from 12 October 2007/20 December 2007.


Besides the above, following amendments have also been made. These


amendments will come into force at a date to be notified later.


l Provisions relating to abuse of dominant position extended to 'group' in


addition to 'enterprise'.


l The financial limits for attracting provisions relating to 'combination'


modified.


l For entering into a proposed 'combination', notice to the CCI shall be


issued mandatorily as against earlier requirement of optional notice.


l Competition Commission to issue its order within 210 days from making


of the application.