<h1>Government Exempts Banking Company from Sections 5 and 6 of Competition Act for Mergers, Per Section 45 Notification.</h1> The government has exempted a banking company, subject to a notification under section 45 of the Banking Regulation Act, 1949, from sections 5 and 6 of the Competition Act, 2002, concerning mergers and acquisitions. This was disclosed by the Minister for Corporate Affairs in response to a question in the Lok Sabha. The amalgamation of Global Trust Bank with Oriental Bank of Commerce on 14th August 2004 occurred before these Competition Act sections were enforced on 1st June 2011.