FLAT 20% OFF and 3-Months ADDED Validity on All Courses Absolutely FREE! Enroll Now Use Code: INDIA20
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

The Competition Act, 2002 faced a legal challenge. During the period the issues arising out the said legal challenge were under the consideration of the Hon’ble Supreme Court, the Competition Commission could not be fully operationalised. Finally the amendments necessary to address the legal challenge were effected through the Competion (Amendment) Act, 2007. Subsequently, the process of operationalization of the Competition Commission has been taken up, including notification of rules under the Act, as amended, and provision of necessary personnel and infrastructure etc., and is currently in progress. In the course of a proceeding before any statutory regular, including the Competition Commission, matters may come up having a bearing both on competition and matters regulated by the concerned sector specific regulator. In such cases, under the provisions of sections 21 and 21A of the Competion Act, 2002, as amended, the concerned regulator or the Competition Commission, may as the case may be, make a reference to the other regulator for its opinion, which would have to be indicated by the regulator, so addressed, in a time bound manner. This information was given by the Minister of Corporate Affairs, Shri Prem Chand Gupta in a written reply to a question in Rajya Sabha today.
"Loved reading this piece by veenzar?
Join LAWyersClubIndia's network for daily News Updates, Judgment Summaries, Articles, Forum Threads, Online Law Courses, and MUCH MORE!!"

Tags :

  Views  789  Report

Post a Suggestion for LCI Team
Post a Legal Query