Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
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Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
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Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
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        LATEST NEWS UPDATES | Cabinet Nod for Changes in Competition Act    </title>
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The government today expanded the ambit of Competition Commission of India (CCI), with an amendment to the Competition Act, following which all sectors would fall under the purview of the fair trade regulator.





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The government today expanded the ambit of Competition Commission of India (CCI), with an amendment to the Competition Act, following which all sectors would fall under the purview of the fair trade regulator.





Approving a proposal by the Ministry of Corporate..." />
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                            <div style="text-align: justify">-Outlook</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The government today expanded the ambit of Competition Commission of India (CCI), with an amendment to the Competition Act, following which all sectors would fall under the purview of the fair trade regulator.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Approving a proposal by the Ministry of Corporate Affairs in this regard, the Union Cabinet this evening decided to amend the Competition Act, 2002 with a view to fine tune the regulations to bring it at par with the prevailing scenario and in light of the experiences gained over the past years.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Under the proposed amendments, no sector would be exempted from the purview of the CCI, Finance Minister P Chidambaram told reporters after the Cabinet meeting.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Earlier, there have been requests for exempting merger and acquisition deals in sectors like banking and insurance from seeking approval from CCI.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The fair trade regulator has a mandate to ensure that the merger and acquisition deals between various entities do not lead to situations that affect competition in the marketplace.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Chidambaram said all voluntary merger and acquisition (M&amp;A) deals would come under the CCI's jurisdiction.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">However, in cases like deals involving ailing banks or insurers, the views of sectoral regulators (RBI and IRDA) would be taken into account.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">According to an official release on cabinet decision, the Corporate Affairs Ministry's proposal, after its initial consideration in April 2012, was referred to a Group of Ministers to examine it in detail, particularly in reference to role of sectoral regulators on competition-related issues.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The Finance Minister said that all voluntary M&amp;A deals would come under the CCI's ambit.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">&quot;Voluntary mergers will come under the Competition Act, involuntary mandated mergers, amalgamations mandated by the RBI in the case of banks mandated by the IRDA in case of insurance companies...We are asking for exemption. It will be in the Act,&quot; Chidambaram said.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">&quot;We will ask for exemption for that category and the power is in the Act to provide for exemption...These are two cases where the Act already provides for involuntary amalgamation. Power is there in the Act to exempt those involuntary mergers but it has to be exercised on a case by case basis,&quot; he added.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">While endorsing the original proposal, the GoM also proposed amendment in the Competition Act requiring other regulators to mandatorily refer matters impinging on &quot;Competition&quot; to the CCI and vice-versa to the concerned regulators by CCI on matters relating to those regulators.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">&quot;To this extent the original proposal has been modified,&quot; the release said.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The proposed amendments, as approved by the Cabinet, also include change in the definition of terms like turnover and group in competition related matter and a reduction of the overall time limit of finalization of combinations from 210 days to 180 days.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Besides, a new Section 5A would be inserted into the Act to enable the Central Government to lay down, in consultation with the CCI, different thresholds for any class or classes of enterprises for the purpose of examining acquisitions, mergers and amalgamations by the Commission.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The other amendments relate to procedural aspects in working of the Commission.</div>                                                           
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    <h1 class="cat-box-title">Cabinet Nod for Changes in Competition Act</h1>
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                            <div style="text-align: justify">-Outlook</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The government today expanded the ambit of Competition Commission of India (CCI), with an amendment to the Competition Act, following which all sectors would fall under the purview of the fair trade regulator.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Approving a proposal by the Ministry of Corporate Affairs in this regard, the Union Cabinet this evening decided to amend the Competition Act, 2002 with a view to fine tune the regulations to bring it at par with the prevailing scenario and in light of the experiences gained over the past years.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Under the proposed amendments, no sector would be exempted from the purview of the CCI, Finance Minister P Chidambaram told reporters after the Cabinet meeting.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Earlier, there have been requests for exempting merger and acquisition deals in sectors like banking and insurance from seeking approval from CCI.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The fair trade regulator has a mandate to ensure that the merger and acquisition deals between various entities do not lead to situations that affect competition in the marketplace.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Chidambaram said all voluntary merger and acquisition (M&amp;A) deals would come under the CCI's jurisdiction.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">However, in cases like deals involving ailing banks or insurers, the views of sectoral regulators (RBI and IRDA) would be taken into account.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">According to an official release on cabinet decision, the Corporate Affairs Ministry's proposal, after its initial consideration in April 2012, was referred to a Group of Ministers to examine it in detail, particularly in reference to role of sectoral regulators on competition-related issues.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The Finance Minister said that all voluntary M&amp;A deals would come under the CCI's ambit.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">&quot;Voluntary mergers will come under the Competition Act, involuntary mandated mergers, amalgamations mandated by the RBI in the case of banks mandated by the IRDA in case of insurance companies...We are asking for exemption. It will be in the Act,&quot; Chidambaram said.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">&quot;We will ask for exemption for that category and the power is in the Act to provide for exemption...These are two cases where the Act already provides for involuntary amalgamation. Power is there in the Act to exempt those involuntary mergers but it has to be exercised on a case by case basis,&quot; he added.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">While endorsing the original proposal, the GoM also proposed amendment in the Competition Act requiring other regulators to mandatorily refer matters impinging on &quot;Competition&quot; to the CCI and vice-versa to the concerned regulators by CCI on matters relating to those regulators.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">&quot;To this extent the original proposal has been modified,&quot; the release said.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The proposed amendments, as approved by the Cabinet, also include change in the definition of terms like turnover and group in competition related matter and a reduction of the overall time limit of finalization of combinations from 210 days to 180 days.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Besides, a new Section 5A would be inserted into the Act to enable the Central Government to lay down, in consultation with the CCI, different thresholds for any class or classes of enterprises for the purpose of examining acquisitions, mergers and amalgamations by the Commission.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The other amendments relate to procedural aspects in working of the Commission.</div>                                                           
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    <br><a href="http://news.outlookindia.com/items.aspx?artid=777277" class="re" target="_blank">Outlook, 4 October, 2012, http://news.outlookindia.com/items.aspx?artid=777277</a><div class="clear"></div>
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    <h1 class="cat-box-title">Cabinet Nod for Changes in Competition Act</h1>
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                            <div style="text-align: justify">-Outlook</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The government today expanded the ambit of Competition Commission of India (CCI), with an amendment to the Competition Act, following which all sectors would fall under the purview of the fair trade regulator.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Approving a proposal by the Ministry of Corporate Affairs in this regard, the Union Cabinet this evening decided to amend the Competition Act, 2002 with a view to fine tune the regulations to bring it at par with the prevailing scenario and in light of the experiences gained over the past years.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Under the proposed amendments, no sector would be exempted from the purview of the CCI, Finance Minister P Chidambaram told reporters after the Cabinet meeting.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Earlier, there have been requests for exempting merger and acquisition deals in sectors like banking and insurance from seeking approval from CCI.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The fair trade regulator has a mandate to ensure that the merger and acquisition deals between various entities do not lead to situations that affect competition in the marketplace.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Chidambaram said all voluntary merger and acquisition (M&amp;A) deals would come under the CCI's jurisdiction.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">However, in cases like deals involving ailing banks or insurers, the views of sectoral regulators (RBI and IRDA) would be taken into account.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">According to an official release on cabinet decision, the Corporate Affairs Ministry's proposal, after its initial consideration in April 2012, was referred to a Group of Ministers to examine it in detail, particularly in reference to role of sectoral regulators on competition-related issues.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The Finance Minister said that all voluntary M&amp;A deals would come under the CCI's ambit.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">&quot;Voluntary mergers will come under the Competition Act, involuntary mandated mergers, amalgamations mandated by the RBI in the case of banks mandated by the IRDA in case of insurance companies...We are asking for exemption. It will be in the Act,&quot; Chidambaram said.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">&quot;We will ask for exemption for that category and the power is in the Act to provide for exemption...These are two cases where the Act already provides for involuntary amalgamation. Power is there in the Act to exempt those involuntary mergers but it has to be exercised on a case by case basis,&quot; he added.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">While endorsing the original proposal, the GoM also proposed amendment in the Competition Act requiring other regulators to mandatorily refer matters impinging on &quot;Competition&quot; to the CCI and vice-versa to the concerned regulators by CCI on matters relating to those regulators.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">&quot;To this extent the original proposal has been modified,&quot; the release said.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The proposed amendments, as approved by the Cabinet, also include change in the definition of terms like turnover and group in competition related matter and a reduction of the overall time limit of finalization of combinations from 210 days to 180 days.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Besides, a new Section 5A would be inserted into the Act to enable the Central Government to lay down, in consultation with the CCI, different thresholds for any class or classes of enterprises for the purpose of examining acquisitions, mergers and amalgamations by the Commission.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The other amendments relate to procedural aspects in working of the Commission.</div>                                                           
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    <br><a href="http://news.outlookindia.com/items.aspx?artid=777277" class="re" target="_blank">Outlook, 4 October, 2012, http://news.outlookindia.com/items.aspx?artid=777277</a><div class="clear"></div>
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Home हिन्दी

Cabinet Nod for Changes in Competition Act

Published on Oct 5, 2012   Modified on Oct 5, 2012

-Outlook The government today expanded the ambit of Competition Commission of India (CCI), with an amendment to the Competition Act, following which all sectors would fall under the purview of the fair trade regulator. Approving a proposal by the Ministry of Corporate Affairs in this regard, the Union Cabinet this evening decided to amend the Competition Act, 2002 with a view to fine tune the regulations to bring it at par with the prevailing scenario and in light of the experiences gained over the past years. Under the proposed amendments, no sector would be exempted from the purview of the CCI, Finance Minister P Chidambaram told reporters after the Cabinet meeting. Earlier, there have been requests for exempting merger and acquisition deals in sectors like banking and insurance from seeking approval from CCI. The fair trade regulator has a mandate to ensure that the merger and acquisition deals between various entities do not lead to situations that affect competition in the marketplace. Chidambaram said all voluntary merger and acquisition (M&A) deals would come under the CCI's jurisdiction. However, in cases like deals involving ailing banks or insurers, the views of sectoral regulators (RBI and IRDA) would be taken into account. According to an official release on cabinet decision, the Corporate Affairs Ministry's proposal, after its initial consideration in April 2012, was referred to a Group of Ministers to examine it in detail, particularly in reference to role of sectoral regulators on competition-related issues. The Finance Minister said that all voluntary M&A deals would come under the CCI's ambit. "Voluntary mergers will come under the Competition Act, involuntary mandated mergers, amalgamations mandated by the RBI in the case of banks mandated by the IRDA in case of insurance companies...We are asking for exemption. It will be in the Act," Chidambaram said. "We will ask for exemption for that category and the power is in the Act to provide for exemption...These are two cases where the Act already provides for involuntary amalgamation. Power is there in the Act to exempt those involuntary mergers but it has to be exercised on a case by case basis," he added. While endorsing the original proposal, the GoM also proposed amendment in the Competition Act requiring other regulators to mandatorily refer matters impinging on "Competition" to the CCI and vice-versa to the concerned regulators by CCI on matters relating to those regulators. "To this extent the original proposal has been modified," the release said. The proposed amendments, as approved by the Cabinet, also include change in the definition of terms like turnover and group in competition related matter and a reduction of the overall time limit of finalization of combinations from 210 days to 180 days. Besides, a new Section 5A would be inserted into the Act to enable the Central Government to lay down, in consultation with the CCI, different thresholds for any class or classes of enterprises for the purpose of examining acquisitions, mergers and amalgamations by the Commission. The other amendments relate to procedural aspects in working of the Commission.

Outlook, 4 October, 2012, http://news.outlookindia.com/items.aspx?artid=777277

Tagged with: Law and Justice Governance

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