CCI Seeks Public Opinion on New Regulations Amid Legislative Changes

The Competition Commission of India (CCI) has invited stakeholders to comment on proposed amendments to its general regulations following updates in the Competition Act. These changes aim to align the regulations with new legislative provisions and enhance the enforcement mechanism. Key updates include oversight by independent agencies and revised penalty procedures.

The Competition Commission of India (CCI) is calling on stakeholders to share feedback on proposed amendments to its regulations. These updates come in response to the recently passed Competition (Amendment) Act, 2023, which introduced new provisions and updated existing ones in the Competition Act of 2002.

Key elements of the proposed changes include a detailed process to implement and monitor orders under various sections of the Act. The commission plans to appoint independent agencies—like accounting firms, management consultancies, or professional organizations—to ensure compliance, report non-implementation, maintain confidentiality, and avoid conflicts of interest. CCI also retains the authority to suspend or terminate these engagements as necessary, with such decisions recorded in writing and insulated from judicial review.

The payment for these agencies' services will be made by involved parties who have filed applications under CCI's Settlement or Commitment Regulations, contingent on satisfactory performance. Another substantial update is the revised procedure for imposing penalties, ensuring fair hearings for the affected parties. Stakeholders have been asked to submit their comments on the draft amendments by July 8, 2023.

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