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of <h1>Oil and Gas CPSEs Exempt from Competition Act Sections 5 and 6 for Five Years u/s 54.</h1> The Ministry of Corporate Affairs, exercising powers under Section 54 of the Competition Act, 2002, exempts all combinations involving Central Public Sector Enterprises (CPSEs) in the Oil and Gas sectors from the provisions of Sections 5 and 6 of the Act. This exemption, applicable to CPSEs and their wholly or partly owned subsidiaries operating under the Petroleum Act, 1934, and the Oilfields (Regulation and Development) Act, 1948, is granted for five years from the notification's publication date in the Official Gazette.
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