9911796707
TMI BlogCompetition Commission of India (Procedure in regard to the transaction of business relating to combinations) Amendment Regulations, 2016X X X X Extracts X X X X X X X X Extracts X X X X ..... saction of business relating to combinations) Regulations, 2011, namely:- 1. Short title and commencement.- (1) These regulations may be called the Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Amendment Regulations, 2016. (2) They shall come into force on the date of their publication in the Official Gazette. 2. In the Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Regulations, 2011,- (1) in regulation 5,- (a) in sub-regulation (2), the word verified shall be omitted; (b) in sub-regulation (8), for the second proviso, the following proviso shall be substituted, namely:- Provided further that where a public announce ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ns. ; (6) regulation 31 shall be omitted; (7) in Schedule I to these regulations,- (a) in category (1), the following explanation shall be inserted, namely:- Explanation:- The acquisition of less than ten per cent of the total shares or voting rights of an enterprise shall be treated as solely as an investment: Provided that in relation to the said acquisition,- (A) the Acquirer has ability to exercise only such rights that are exercisable by the ordinary shareholders of the enterprise whose shares or voting rights are being acquired to the extent of their respective shareholding; and (B) the Acquirer is not a member of the board of directors of the enterprise whose shares or voting rights are being acquired and does not have a right or int ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... estimates based on the underlying facts. The notifying party is aware of the provisions of sections 44 and 45 of the Act . Signed by or on behalf of the notifying party Signature(s) Name (in block capitals): Designation: Date:________________ [In case there are more than one notifying parties, each party may use the same format.] ; (c) in Form III, for verification part, the following shall be substituted, namely:- DECLARATION The notifying party declares and confirms that all information given in this Form and all pages annexed hereto is true, correct and complete to the best of its knowledge and belief, and that all estimates are identified as such and are its best estimates based on the underlying facts. The notifying party is aware of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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