Regulation 27 - Appointment of independent agencies to oversee modification - CCI (Procedure In Regard To The Transaction Of Business Relating To Combinations) Regulations, 2011

27. Appointment of independent agencies to oversee modification.- 1 [ (1) Where the Commission is of the opinion that the implementation of the modifications to the proposed combination needs supervision, it may appoint agencies to oversee such implementation, on such terms and conditions as may be determined by the Commission. ] (2) The agencies appointed under sub-regulation (1) shall be independent of the parties to the combination having no conflicts of interest. Such independent agencies referred to in this regulation may include an accounting firm, management consultancy, law firm, any other professional organization, or part thereof, or independent practitioners of repute. (3) The agencies appointed under sub-regulation (1) shall carry out the responsibilities as specified by the Commission from time to time. (4) The agencies appointed under sub-regulation (1) shall submit a report to the Commission upon completion of each of the actions required for carrying out the modification. (5) The payment to the agencies appointed under sub-regulation (1) shall be made by the parties to the combination by depositing it with the Commission or as may be directed by the Commission. ************** NOTES:- 1. Substituted vide F. No. CCI/CD/Amend/Comb.Regl./2018 dated 09-10-2018 before it was read as, (1) Where the Commission is of the opinion that the modification proposed by it and accepted by the parties to the combination needs supervision, it may appoint agencies, to oversee the modification, on such terms and conditions as may be decided by the Commission.