Regulation 25 - Modification to the proposed combination - CCI (Combinations) Regulations, 2024

25. Modification to the proposed combination. (1) Where Commission decides to propose modification either under sub-section (7) of section 29 of the Act or under the proviso to sub-section (3) of section 29A of the Act, the Secretary shall communicate within seven days, the proposal of the Commission to the person who has given notice and such person shall submit its acceptance or non- acceptance, in writing, within five days of the receipt of the proposal of the Commission: Provided that the time taken in communication of the proposal of the Commission not exceeding seven days shall be excluded from the period provided in sub-section (1B) of section 29 of the Act: Provided further that the time taken by the person who has given the notice for such acceptance or non-acceptance shall be excluded from the period provided in sub-section (2A) of section 6 , sub-section (1B) of section 29 , and sub-section (6) of section 31 of the Act. (2) The modification offered by the parties to combination under sub-section (7) of 29 of the Act or sub-sections (2) or (3) of Section 29A shall be filed in Form IV as specified in schedule I to these regulations . (3) The modification under sub-section (7) of Section 29 of the Act shall be offered within ten working days from the date of issuance of acknowledgement by Secretary under sub- regulation (3) of Regulation 13 or along with response to communication issued under sub-regulation (2) of Regulation 14 of these regulations, whichever is later. (4) The parties to the combination may offer modification in Form IV along with their response to the notice issued under sub-section (1) of section 29 of the Act, within fifteen days of the receipt of such notice, to address the prima facie concerns in the said notice and on that basis, the Commission may approve the proposed combination under sub- section (1) of section 31 of the Act. (5) Where the Commission approves a combination under sub-section (3) of section 31 of the Act subject to modification, the parties to the combination shall carry out such modification as per the terms and conditions and within the period as may be specified by the Commission in its order. (6) Where the Commission has approved a combination under sub-section (3) of section 31 of the Act subject to modification and the parties to the combination fail to carry out the modification within the period specified by the Commission, the Commission shall pass an order under sub-clause (b) of sub-section (5) of section 31 of the Act within time not exceeding thirty days from the date of determination by the Commission of the failure of the parties to carry out the modification.