Competition Commission to be constituted

Subscribe to Oneindia News

New Delhi, Apr 15 (UNI) The process of operationalisation of the Competition Commission through notification of rules under the recently-amended Companies Act is being taken up, including provision of necessary personnel and infrastructure, Corporate Affairs Minister Prem Chand Gupta today said.

He said in a written reply in the Rajya Sabha that the commission could not be made operational due to a case filed in the Supreme Court challenging the Competition Act, 2002.

Finally the necessary amendments were effected through the Competion (Amendment) Act, 2007 and the process of operationalisation of the Competition Commission was 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 sector specific regulator concerned. In such cases, under the provisions of sections 21 and 21A of the Competion Act, 2002, as amended, the regulator concerned 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," the Minister added.

UNI SD RL BST1729

Please Wait while comments are loading...