Regulation 14 - Scrutiny of notice - CCI (Procedure In Regard To The Transaction Of Business Relating To Combinations) Regulations, 2011

14. Scrutiny of notice.- (1) The notice filed under regulation 5 or regulation 8 of these regulations shall not be valid 2 [ unless it is complete and ] in conformity with these regulations. (2) The Secretary shall issue an acknowledgement of the receipt of notice. 3 [ (2A) Notwithstanding anything contained in sub-regulation (2), the Commission may, after recording reasons, invalidate a notice filed under regulation 5 or regulation 8 of these regulations when it comes to the knowledge of the Commission that such notice is not valid as per sub-regulation (1) and, in that case, the Secretary shall convey the decision of the Commission to the parties to the combination within 6 [ seven working days ] of such decision of the Commission: ] 5 [ Provided that the Commission may give an opportunity of being heard to the parties to the combination in accordance with regulation 24 of these regulations before deciding to invalidate a notice: Provided further that the period between the commencement of proceedings under sub-regulation (2A) of regulation 14 of these regulations till the decision of the Commission regarding validity of the notice, shall be excluded from the period specified in 7 [ sub-section (2A) of section 6 of the Act , ] sub-section (11) of section 31 of the Act and sub-regulation (1) of regulation 19 of these regulations. ] (3) Where the information or document(s) contained in the notice under regulation 5 or regulation 8 of these regulations 1 [ or any response filed pursuant to these regulations ] 4 [ is incomplete in any respect, the parties to the combination may ] be asked to remove such defect(s) or furnish the required information including document(s). (4) The Secretary shall place the proof of service of communication as referred to in sub-regulation (3) to the parties to the combination on record. (5) The parties shall comply with the directions as referred to in sub-regulation (3) within the time specified by the Commission and in the case of the notice filed under regulation 5 the time taken by the parties in removing such defects or furnishing the required information including document(s) shall be excluded from the period provided in 8 [ sub-section (2A) of section 6 of the Act, ] sub-section (11) of section 31 of the Act and sub- regulation (1) of regulation 19 of these regulations. (6) In case the parties fail to remove the defects or fail to furnish the required information including documents(s), within the time specified, the notice filed under regulation 5 or regulation 8 of these regulations shall not be treated as a valid notice. ************** NOTES:- 1. Inserted vide F. No. CCI/CD/Amend/Comb. Regl./2014 dated 28-03-2014 2. Substituted vide F. No. CCI/CD/Amend/Comb.Regl./2015 dated 01-07-2015 before it was read as, And complete unless it is 3. Inserted vide F. No. CCI/CD/Amend/Comb.Regl./2015 dated 01-07-2015 4. Substituted vide F. No. CCI/CD/Amend/Comb.Regl./2015 dated 01-07-2015 before it was read as, has any defect(s) or is incomplete in any respect, the parties to the combination shall 5. Inserted vide F.No. CCI/CD/Amend/Comb.Regl./2016 dated 07-01-2016 6. Substituted vide F. No. CCI/CD/Amend/Comb.Regl./2018 dated 09-10-2018 before it was read as, seven days 7. Inserted vide F. No. CCI/CD/Amend/Comb.Regl./2018 dated 09-10-2018 8. Inserted vide F. No. CCI/CD/Amend/Comb.Regl./2018 dated 09-10-2018