{"id":32221,"date":"2016-01-11T11:40:07","date_gmt":"2016-01-11T06:10:07","guid":{"rendered":"http:\/\/www.scconline.com\/blog\/?p=32221"},"modified":"2018-04-27T11:39:22","modified_gmt":"2018-04-27T06:09:22","slug":"competition-commission-of-india-procedure-in-regard-to-the-transaction-of-business-relating-to-combinations-amendment-regulations-2016","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2016\/01\/11\/competition-commission-of-india-procedure-in-regard-to-the-transaction-of-business-relating-to-combinations-amendment-regulations-2016\/","title":{"rendered":"Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Amendment Regulations, 2016"},"content":{"rendered":"<p style=\"text-align: justify;\">The Competition Commission of India makes the Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Amendment Regulations, 2016, in order to amend the Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Regulations, 2011, namely;<\/p>\n<p style=\"text-align: justify;\">(1) in regulation 5,-<\/p>\n<p style=\"text-align: justify;\">\u00a0\u00a0\u00a0 (a) in sub-regulation (2), the word \u201cverified\u201d shall be omitted;<\/p>\n<p style=\"text-align: justify;\">\u00a0\u00a0\u00a0 (b) in sub-regulation (8), for the second proviso, the following proviso shall be substituted, namely:-<\/p>\n<p style=\"text-align: justify;\">\u00a0\u2018Provided further that where a public announcement has been made in terms of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, for acquisition of shares, voting rights or control, such public announcement shall be deemed to be the \u201cother document\u201d.\u2019;<\/p>\n<p style=\"text-align: justify;\">(2) in regulation 6, in sub-regulation (2), the words \u201cand verified\u201d shall be omitted;<\/p>\n<p style=\"text-align: justify;\">(3) in regulation 9,\u2014<\/p>\n<p style=\"text-align: justify;\">\u00a0 \u00a0 \u00a0(a) in sub-regulation (1), in the proviso, for the words \u201cboard of directors of the company for the\u00a0said purpose\u201d, the word \u201ccompany\u201d shall be substituted;<\/p>\n<p style=\"text-align: justify;\">\u00a0 \u00a0 \u00a0 (b) in sub-regulation (3), in the proviso, for the words \u201cboard of directors of the company for the\u00a0said purpose\u201d, the word \u201ccompany\u201d shall be substituted;<\/p>\n<p style=\"text-align: justify;\">\u00a0 \u00a0 \u00a0 \u00a0(c) in sub-regulation (4), the words \u201cor inter-dependent on each other\u201d shall be omitted;<\/p>\n<p style=\"text-align: justify;\">(4) in regulation 13, in sub-regulation (1), the words \u201cand verified\u201d shall be omitted;<\/p>\n<p style=\"text-align: justify;\">(5) in regulation 14, in sub-regulation (2A), the following provisos shall be inserted, namely:\u2014<\/p>\n<p style=\"text-align: justify;\">\u201cProvided that the Commission may give an opportunity of being heard to the parties to the combination in accordance with regulation 24 of these regulations before deciding to invalidate a notice:<\/p>\n<p style=\"text-align: justify;\">Provided further that the period between the commencement of proceedings under sub-regulation<\/p>\n<p style=\"text-align: justify;\">(2A) of regulation 14 of these regulations till the decision of the Commission regarding validity of the notice, shall be excluded from the period specified in sub-section (11) of section 31 of the Act and sub-regulation (1) of regulation 19 of these regulations.\u201d;<\/p>\n<p style=\"text-align: justify;\">(6) regulation 31 shall be omitted;<\/p>\n<p style=\"text-align: justify;\">(7) in Schedule I to these regulations,\u2014<\/p>\n<p style=\"text-align: justify;\">(a) in category (1), the following explanation shall be inserted, namely:\u2014<\/p>\n<p style=\"text-align: justify;\">\u00a0\u201cExplanation:- The acquisition of less than ten per cent of the total shares or voting rights of an enterprise shall be treated as solely as an investment:<\/p>\n<p style=\"text-align: justify;\">Provided that in relation to the said acquisition,-<\/p>\n<p style=\"text-align: justify;\">(A) the Acquirer has ability to exercise only such rights that are exercisable by the ordinary shareholders of the enterprise whose shares or voting rights are being acquired to the extent of their respective shareholding; and<\/p>\n<p style=\"text-align: justify;\">(B) the Acquirer is not a member of the board of directors of the enterprise whose shares or voting rights are being acquired and does not have a right or intention to nominate a director on the board of directors of the enterprise whose shares or voting rights are being acquired and does not intend to participate in the affairs or management of the enterprise whose shares or voting rights are being acquired.\u201d;<\/p>\n<p style=\"text-align: justify;\">(b) in category (1A), the words \u201cnot resulting in gross acquisition of more than five per cent (5%) of the shares or voting rights of such enterprise in a financial year,\u201d shall be omitted;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Competition Commission of India makes the Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) <\/p>\n","protected":false},"author":3,"featured_media":76441,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[14,4],"tags":[],"class_list":["post-32221","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-foreign","category-legislationupdates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast 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Regl.\/2019.\u2014In exercise of the powers conferred by Section 64 of the Competition Act, 2002 (12 of 2003), the Competition Commission of India hereby makes the following regulations further to amend the Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Regulations, 2011,\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/10\/Competition-Commission.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/10\/Competition-Commission.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/10\/Competition-Commission.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/10\/Competition-Commission.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/10\/Competition-Commission.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":7255,"url":"https:\/\/www.scconline.com\/blog\/post\/2015\/07\/29\/cci-amends-the-combination-regulations-2011\/","url_meta":{"origin":32221,"position":1},"title":"CCI  amends the Combination Regulations, 2011","author":"Sucheta","date":"July 29, 2015","format":false,"excerpt":"The Competition Commission of India (CCI) exercising powered conferred under 64 of the Competition Act, 2002 notified amendments to the Combination Regulations, 2011. The amendment inter alia inserts Sub Reg. (3A) to Reg. 5, it mandates that the parties to the combination shall have to give notice in accordance with\u2026","rel":"","context":"In &quot;Foreign Legislation&quot;","block_context":{"text":"Foreign Legislation","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/foreign\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":311711,"url":"https:\/\/www.scconline.com\/blog\/post\/2024\/01\/18\/competition-commission-of-india-notified-competition-commission-of-india-general-amendment-regulations-2024\/","url_meta":{"origin":32221,"position":2},"title":"CCI introduces Interlocutory Application vide Competition Commission of India (General) Amendment Regulations, 2024","author":"Kriti","date":"January 18, 2024","format":false,"excerpt":"Competition Commission of India introduces definition of Interlocutory Application in CCI (General) Regulations, 2009.","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"Competition Commission of India","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/01\/Competition-Commission-of-India.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/01\/Competition-Commission-of-India.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/01\/Competition-Commission-of-India.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/01\/Competition-Commission-of-India.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":222403,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/11\/22\/competition-commission-of-india-general-amendment-regulations-2019\/","url_meta":{"origin":32221,"position":3},"title":"Competition Commission of India (General) Amendment Regulations, 2019","author":"Bhumika Indulia","date":"November 22, 2019","format":false,"excerpt":"No. L-3(2)\/Regln-Gen. (Amdt.)\/2019\/CCI.\u2014In exercise of the powers conferred by Section 64 of the Competition Act, 2002 (12 of 2003), the Competition Commission of India hereby makes the following regulations further to amend the Competition Commission of India (General) Regulations, 2009, namely:\u2014 1. (1) These regulations may be called the Competition\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/10\/Competition-Commission.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/10\/Competition-Commission.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/10\/Competition-Commission.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/10\/Competition-Commission.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/10\/Competition-Commission.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":225365,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/02\/10\/cci-notifies-competition-commission-of-india-general-amendment-regulations-2020\/","url_meta":{"origin":32221,"position":4},"title":"CCI notifies &#8212; Competition Commission of India (General) Amendment Regulations, 2020","author":"Bhumika Indulia","date":"February 10, 2020","format":false,"excerpt":"No. L-3(2)\/Regln-Gen. (Amdt.)\/2020\/CCI--- In exercise of the powers conferred by Section\u00a0 64 of the Competition Act, 2002 (12 of 2003), the Competition Commission of India hereby makes the following regulations further to amend the Competition Commission of India (General) Regulations, 2009, namely:- 1. 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In regulation 20, (i) in clause (iv) of the proviso to sub-regulation (6), the symbol \",\" shall be substituted with the symbol\u00a0\":\" (ii) after\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/32221","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=32221"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/32221\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/76441"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=32221"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=32221"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=32221"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}