CCI Enforces Amended Sections 19(1) and 44 of The Competition (Amendment) Act, 2023
CCI Enforces Amended Sections – The Competition (Amendment) Act – CCI – Taxscan
CCI Enforces Amended Sections – The Competition (Amendment) Act – CCI – Taxscan
The Competition Commission of India enforced Section 19(1) and Section 44 of the Competition (Amendment) Act, 2023 on 18th May 2023. As per the amendment notification issued on April 11th 2023, the enforcement date may vary for different sections. The other sections are anticipated to go into effect soon.
The amendment of Section 19(1) of The Competition (Amendment) Act, 2023 has introduced a new limitation period of 3 years to file the anti-competition or abuse of dominant position issues. However, if the commission finds that there is sufficient reason for the delay, it can condone the delay. And the section was enforced on 18th May 2023.
The proviso added to section 19(1) in the new amendment states that “Provided that the Commission shall not entertain information or a reference unless it is filed within three years from the date on which the cause of action has arisen:
Provided further that information or a reference may be entertained after the period specified in the first proviso if the Commission is satisfied that there had been sufficient cause for not filing the information or the reference within such period after recording its reasons for condoning such delay.”
The amendment of Section 44 of The Competition (Amendment) Act, 2023, has increased the maximum penalty to Rs. 5 crores (from Rs. 1 crore) for making false statements or omitting material information, in combinations.
section 44 in the amendment states that “In section 44 of the principal Act, for the words "rupees one crore", the words "rupees five crore" shall be substituted.”
The Central Government has appointed the new full-time Chairperson Smt. Ravneet Kaur on 15th May 2023 and the provisions were enforced after 3 days of her appointment. The Chairperson took charge on 23rd May 2023.
Read More: Smt. Ravneet Kaur takes charge as Chairperson of CCI
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