 "Notifying changes in competition law may face CCI quorum challenge")
A lack of quorum at the competition regulator could hinder notifying various provisions of a new law that received the President’s approval on Wednesday. The Corporate Affairs Ministry is studying whether the provision related to timelines can be notified even with a two-member quorum at the Competition Commission of India (CCI).
For instance, if CCI does not give an order regarding a combination application within deadline then it would be deemed approved.
“We might have to notify the provisions after a few weeks. Operationalising all changes is difficult due to the lack of quorum at the CCI,” said a senior government officer.
The CCI is yet to appoint a full-time chairperson, leaving the three-member quorum short of one person.
The amended competition law has major changes, including levying penalties on the global turnover of companies along with a settlement and commitment scheme.
Government sources said that the law is neither retrospective nor prospective and when it is notified, the settlement option will be open for all ongoing cases. In cases where the director general of investigations has made its report, there is no scope of going for the commitment scheme.
Digital competition law committee holds discussions
The final report on the proposed digital competition law is likely to be finalised by the end of May, government sources said. The committee held its meeting on Thursday to discuss the ex-ante regulations without the presence of any outside members.
The committee, chaired by Corporate Affairs Ministry secretary Manoj Govil, has finished stakeholder consultations with representatives from big tech industry, various start-ups and new-age companies among others. “The opinion on whether we should have ex-ante regulations is divided. We are deliberating on these issues,” said a senior official.
Once the committee has finalised its report, a cabinet note will be shared for inter-ministerial discussions.
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