New Delhi, Mar 14 (UNI) Experts from around the world will meet in New Delhi tomorrow to discuss India's competition law regime and suggest ways to make it more effective.
The two day meet sponsored by the International Bar Association and the Bar Association of India will be opened by India's former Chief Justice A S Anand.
Taking part will be acting Competition Commission of India Chairman Vinod Dhall and Director General Amitabh Kumar and their counterparts from the United States, Britain, the European Union, Australia, Canada and elsewhere.
The event co-supported by the American Bar Association and the Confederation of Indian Industries will focus on 'India's New Merger Notification Regime.' The conference is expected to draft regulations that address issues of interest to domestic and global businesses in India.
Sponsors said expert groups set up by them have studied some provisions of the Competition Act, 2002-- as amended in 2007-- and draft Regulations 2008.
Expert views on global ramifications of the Indian competition law have been submitted to India's Corporate Affairs Ministry as well as to the Commission.
As one sponsor put it, the Act in its present form ''in some potential applications may be so burdensome as to discourage competitive conduct and investment.'' Sponsors say the Act requires notification of many transactions that have little likelihood of affecting competition in India ''in any material way.'' They also say that a requirement for a 210-day waiting period, especially for transactions having little local nexus or insignificant competitive impact in India, may deter transactions otherwise beneficial to India's economy.
They also find the Act ''ambiguous and overly restrictive'' as to when notifications must be filed-- potentially depriving parties of opportunity to coordinate multiple notifications across different jurisdictions.
Foreign participants include British Office of Fair Trading Chairman Philip Collins, U S Federal Trade Commission International Affairs Office Director Randy Tritell, European Commission Competition Deputy Director General Nadia Calvino and Australian Competition and Consumer Commission General Manager Tim Grimwade.
Also attending are several World Bank experts.
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