Government of India

Ministry of Corporate Affairs

(Competition Section)

Invitation for Public Comments on the Competition (Amendment) Bill, 2020.

Ministry of Corporate Affairs had constituted a Competition Law Review Committee (CLRC) under the Chairmanship of Secretary, Corporate Affairs in October, 2018 to review and recommend a robust Competition regime by taking the inputs of key stakeholders, and suggest changes in both the substantive and procedural aspects of law. Based on comprehensive review of all relevant issues, the Committee had submitted its report to the Government in July, 2019 and recommended certain amendments to the act and subordinate legislations.

2.  Accordingly, a Competition (Amendment) Bill, 2020 has been drafted for carrying out amendments in the Competition Act, 2002.

3.  Public comments are therefore hereby solicited on the draft Competition (Amendment) Bill, 2020. Copy of the CLRC Report, Competition Act, 2002 as well as Draft Competition (Amendment) Bill may be accessed at the web link mentioned below and comments, if any, may be submitted online therein by end of business hours on 06^th March. 2020 positively.

http://feedapp.mca.gov.in

4. Stakeholders may please note that comments should not be sent separately through e-mail or hard copy and should be sent only through the web link created for the purpose.

(Abhijt Phukon)

Director, MCA

Competition law reform: tighter merger control thresholds, new governing board, faster timelines, enhanced penalties, settlement and commitment processes. The Bill amends the Competition Act to broaden key definitions (including enterprise and cartel), treat intangible assets in combination thresholds, reform merger notification and timelines (including a streamlined filing route and stock-exchange open-offer rules), create a Governing Board alongside the Commission with delegation and panel mechanisms, expand Director General investigatory powers (document production, examinations, searches and seizures), recalibrate penalties tied to turnover/income, and introduce settlement and commitment procedures with monitoring and sanctions for non-compliance while requiring transparent rulemaking and non-binding guidance on penalties.