Title : Substitution of New Section for Section 13
State : Central
Year : 2007
1[For section 13 of the principal Act, the following section shall be substituted, namely:-- "13. Administrative powers of Chairpersons-The Chairperson shall have the powers of general superintendence, direction and control in respect of all administrative matters of the Commission: Provided that the Chairperson may delegate such of his powers relating to administrative matters of the Commission, as he may think fit, to any other Member or officer of the Commission.".] __________________________ 1. Effective date 20th May 2009- notified vide Ministry of Corporate Affairs Notification No S.O.1242(E) dated 15.05.2009. View Complete Act List Judgments citing this sectionTitle : Amendment of Section 21
State : Central
Year : 2007
1[In section 21 of the principal Act,-- (a) in sub-section (1), the following proviso shall be inserted, namely: -- "Provided that any statutory authority, may, suo motu, make such a reference to the Commission."; (b) for sub-section (2), the following sub-section shall be substituted, namely: -- "(2) On receipt of a reference under sub-section (1), the Commission shall give its opinion, within sixty days of receipt of such reference, to such statutory authority which shall consider the opinion of the Commission and thereafter, give its findings recording reasons therefor on the issues referred to in the said opinion."] __________________________ 1. Effective date 20th May 2009- notified vide Ministry of Corporate Affairs Notification No S.O.1242(E) dated 15.05.2009. ..... View Complete Act List Judgments citing this sectionTitle : Substitution of New Section for Section 22
State : Central
Year : 2007
For section 22 of the principal Act, the following section shall be substituted, namely:-- "22. Meetings of Commission-(1) The Commission shall meet at such times and such places, and shall observe such rules of procedure in regard to the transaction of business at its meetings as may be provided by regulations. (2) The Chairperson, if for any reason, is unable to attend a meeting of the Commission, the senior-most Member present at the meeting, shall preside at the meeting. (3) All questions which come up before any meeting of the Commission shall be decided by a majority of the Members present and voting, and in the event of an equality of votes, the Chairperson or in his absence, the Member presiding, shall have a second or casting vote: Provided that the quorum for such..... View Complete Act List Judgments citing this sectionTitle : Amendment of Section 29
State : Central
Year : 2007
In section 29 of the principal Act, -- (a) in sub-section (1), after the words "Where the Commission is of the", the words "prima facie" shall be inserted; (b) after sub-section (1), the following sub-section shall be inserted, namely:-- "(1A) After receipt of the response of the parties to the combination under sub-section (1), the Commission may call for a report from the Director General and such report shall be submitted by the Director General within such time as the Commission may direct."; (c) in sub-section (2), after the words "parties to the combination", the words, brackets, figure and letter "or the receipt of the report from Director General called under sub-section (1A), whichever is later" shall be inserted. View Complete Act List Judgments citing this sectionTitle : Insertion of New Section 43a
State : Central
Year : 2007
After section 43 of the principal Act, the following section shall be inserted, namely:-- "43A. Power to impose penalty for non-furnishing of information on combinations-If any person or enterprise who fails to give notice to the Commission under sub-section (2) of section 6, the Commission shall impose on such person or enterprise a penalty which may extend to one per cent. of the total turnover or the assets, whichever is higher, of such a combination.". View Complete Act List Judgments citing this sectionTitle : Substitution of New Section for Section 43
State : Central
Year : 2007
36[For section 43 of the principal Act, the following section shall be substituted, namely:-- "43. Penalty for failure to comply with directions of Commission and Director General-If any person fails to comply, without reasonable cause, with a direction given by -- (a) the Commission under sub-sections (2) and (4) of section 36; or (b) the Director General while exercising powers referred to in sub-section (2) of section 41, such person shall be punishable with fine which may extend to rupees one lakh for each day during which such failure continues subject to a maximum of rupees one crore, as may be determined by the Commission.".] __________________________ 1. Effective date 20th May 2009- notified vide Ministry of Corporate Affairs Notification No S.O.1242(E) dated..... View Complete Act List Judgments citing this sectionTitle : Insertion of New Chapter Viiia
State : Central
Year : 2007
After Chapter VIII of the principal Act, the following Chapter shall be inserted, namely: -- 'CHAPTER VIIIA Competition Appellate Tribunal 53A. Establishment of Appellate Tribunal-(1) The Central Government shall, by notification, establish an Appellate Tribunal to be known as Competition Appellate Tribunal,-- (a) to hear and dispose of appeals against any direction issued or decision made or order passed by the Commission under sub-sections (2) and (6) of section 26, section 27, section 28, section 31, section 32, section 33, section 38, section 39, section 43, section 43A, section 44, section 45 or section 46 of this Act; (b) to adjudicate on claim for compensation that may arise from the findings of the Commission or the orders of the Appellate Tribunal in an appeal against..... View Complete Act List Judgments citing this sectionTitle : Amendment of Section 64
State : Central
Year : 2007
In section 64 of the principal Act, in sub-section (2), for clauses (d) and (e), the following clauses shall be substituted, namely:-- "(d) the procedures to be followed for engaging the experts and professionals under sub-section (3) of section 17; (e) the fee which may be determined under clause (a) of sub-section (1) of section 19; (f) the rules of procedure in regard to the transaction of business at the meetings of the Commission under sub-section (1) of section 22; (g) the manner in which penalty shall be recovered under sub-section (1) of section 39; (h) any other matter in respect of which provision is to be, or may be, made by regulations.". View Complete Act List Judgments citing this sectionTitle : Insertion of New Section 21a
State : Central
Year : 2007
1[After section 21 of the principal Act, the following section shall be inserted, namely:-- "21A. Reference by Commission-(1) Where in the course of a proceeding before the Commission an issue is raised by any party that any decision which, the Commission has taken during such proceeding or proposes to take, is or would be contrary to any provision of this Act whose implementation is entrusted to a statutory authority, then the Commission may make a reference in respect of such issue to the statutory authority: Provided that the Commission, may, suo motu, make such a reference to the statutory authority. (2) On receipt of a reference under sub-section (1), the statutory authority shall give its opinion, within sixty days of receipt of such reference, to the Commission which shall..... View Complete Act List Judgments citing this sectionTitle : Substitution of New Section for Section 30
State : Central
Year : 2007
For section 30 of the principal Act, the following section shall be substituted, namely: -- "30. Procedure in case of notice under sub-section (2) of section 6 - Where any person or enterprise has given a notice under sub-section (2) of section 6, the Commission shall examine such notice and form its prima facie opinion as provided in sub-section (1) of section 29 and proceed as per provisions contained in that section.". View Complete Act List Judgments citing this section