Every Person Or Enterprise Party To A Combination Exempted From Giving Notice Within 30 Days For A Period Of 5 Years From Date Of Publication Of Notification

Published on 04 Jul 2017 by Team

The Ministry of Corporate Affairs, in exercise of the powers conferred by clause (a) of Section 54 of the Competition Act, 2002, has issued a notification, in public interest, exempting every person or enterprise who is a party to a combination as referred to in Section 5 of the said Act from giving notice within thirty days mentioned in sub-section (2) of Section 6 of the said Act, subject to the provisions of sub-section (2A) of Section 6 and Section 43A of the said Act, for a period of five years from the date of publication of the notification. The measure has been taken to alleviate the concerns of stakeholders who felt constrained by the thirty days deadline stipulated in the Act for submission of notices of combination to the Competition Commission of India.

Source: Ministry of Corporate Affairs


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