9911796707
TMI BlogCompetition Commission of India (Procedure in regard to the transaction of business relating to combinations) Amendment Regulations, 2012X X X X Extracts X X X X X X X X Extracts X X X X ..... mpetition Act, 2002 (12 of 2003) , the Competition Commission of India hereby makes the following regulations to amend the Competition Commission of India (Procedure in regard to the transaction 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, 2012. (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) for sub-regulation (2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... namely:- Provided further that the time period mentioned in 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 shall commence from the date of receipt of notice in Form II. ; (d) after sub-regulation (8), the following sub-regulation shall be inserted, namely: - (9) Where, in a senes of steps or individual transactions that are related to each other assets are being transferred to an enterprise for the purpose of such enterprise entering into an agreement relating to an acquisition or merger or amalgamation with another person or enterprise, for the purpose of section 5 of the Act, the value of assets and turnover of the enterprise whose assets are ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... erted, namely:- Provided that in case of a company, apart from the persons specified under clause (c) of sub-regulation (1) of regulation 11 of the Competition Commission of India (General) Regulations, 2009, Form I or Form II may also be signed by the Company Secretary of the company, duly authorised by the board of directors of the company. ; (4) in regulation 11 ,- (a) in clause (a), for the words, brackets and the figures rupees fifty thousands (Rs. 50,000) only; , the following shall be substituted, namely:- rupees ten lakhs (Rs. 10,00,000) only; ; (b) in clause (b), for the words, brackets and the figures rupees ten lakhs (Rs. 1,000,000) only; , the following shall be substituted, namely:- rupees forty lakhs (Rs. 40,00,000) only. ; (5 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ) in category (8), the explanation shall be omitted; (d) after category (8), the following category shall be inserted, namely - (8A) A merger or amalgamation involving a holding company and its subsidiary wholly owned by enterprises belonging to the same group and/or mergers or amalgamations involving subsidiaries wholly owned by enterprises belonging to the same group. ; (7) in Schedule II , in Form I,- (a) for brackets, words and figures {See regulation 5 and regulation 8) , the following shall be substituted, namely:- {See regulation 5} (b) the words and brackets Part I (To be filed by everyone) shall be omitted; (c) for paragraph 4 the following paragraph shall be substituted, namely:- 4. Provide details of value of assets and turnover ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
