The Competition Commission of India (Combinations) Regulations, 2024.
The Competition Commission of India has notified The Competition Commission of India (Combinations) Regulations, 2024. The Regulations shall come into force on 10th day of September, 2024.
In a situation not provided for in these regulations or the Competition Commission of India (General) Regulations, 2024, the Commission may determine the procedure, in such matters, if so required.
The Rule 4 provides that the value of transaction as per the Competition Act, 2002 shall include every valuable consideration, whether direct or indirect, immediate or deferred, cash or otherwise except the exceptions provide in the Rules.
As per Rule 5, the notice of the proposed combination shall ordinarily be filed in Form I. However, notice may be given in Form II in the instances specified. The Rule provides for mode of service of notice, procedure for filing notice and its scrutiny and inquiry.
As per Rule 17 proceedings relating to the combinations shall be terminated upon, receiving an intimation from the person(s) or enterprise(s) who filed the notice to the effect that the proposed combination will not take effect; or passing of an order by the Commission under section 31 of the Act.’
Where the Commission is of the prima facie opinion that the combination has caused or is likely to cause appreciable adverse effect on competition within the relevant market in India, the Secretary shall convey the direction of the Commission to the person who has given notice, to publish the details of the combination within seven days of such direction. The Commission in such cases may decide to issue statement of objections.
Where Commission decides to propose modification it shall be communicated to the person who has given notice and such person shall submit its acceptance or non-acceptance, in writing.
Where the Commission is of the opinion that the implementation of the modifications to the proposed combination needs supervision, it may appoint agencies to oversee such modifications.
The Competition Commission of India (Combinations) Regulations 2024 >>
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