CCI proposes amendments to general rules, seeks feedback from stakeholders
Competition Commission of India (CCI) has sought stakeholder comments on the proposed amendments to the CCI (General) Regulations, 2009, following recent changes to the Competition Act. The amendments came from the Competition (Amendment) Act, 2023, which introduced new provisions and updating the existing ones in the Competition Act, 2002. The CCI has proposed updates to align the general regulations with the latest framework.
As part of the proposed changes, CCI has detailed a process for implementing and monitoring its orders under various sections of the Act. This includes the appointment of independent agencies to oversee the implementation of the orders. These agencies, which could include, accounting firms, management consultancies, or professional organisations, will ensure compliance and reporting to any non-implementation to the CCI.
Further, one major change under the new draft is the procedure for imposing penalties. The amendments stipulate that no penalty order or direction under the norms will be made unless the affected party has received a show cause notice or has been given a reasonable opportunity to present their case.
The comments / feedback may be submitted by 8th July, 2024.
