Competition News Alert – CCI invites public comments on proposed amendment to the Combination Regulations omitting requirement of furnishing non-compete information May 21, 2020
Published in: Alerts
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The Competition Commission of India (“Commission / CCI”) has invited public comments on the proposed amendment to the Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Amendment Regulations, 2020 (“Combination Regulations”). The proposed amendment omits Paragraph 5.7 from FORM I filings which seeks information regarding non-compete restrictions agreed between the parties to combination and justification for the same.
The proposed amendment aims to dispense with the ex-ante assessment of non-compete clauses under the merger review process i.e. under Section 6 of the Competition Act, 2002 (‘the Act”). All non-compete clauses will now be subjected to scrutiny under the antitrust provisions of the Act i.e., Section 3 and / or Section 4.
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