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of <h1>2023 Competition Act amends Section 6: Changes in notification timelines, waiting periods, and exemption criteria for combinations.</h1> The Competition (Amendment) Act, 2023 revises Section 6 of the principal Act, altering notification and approval procedures for combinations. Key changes include modifying the notification timeline to occur before consummation, reducing the waiting period from 210 to 150 days, and expanding the scope of required notices to include additional sections. It introduces criteria for certain combinations to be exempt from notification requirements and allows deemed approval upon filing specific notices. The Act also clarifies that certain financial transactions by specified institutions are exempt from these provisions. Existing rules and orders remain effective until new regulations are established.
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