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23th December 2023 (8 Topics)

Competition Commission of India (Determination of Turnover or Income) Regulations, 2023.

Context

CCI seeks comments on draft of Competition Commission of India (Determination of Turnover or Income) Regulations, 2023.

Key Highlights

  • The Competition Commission of India (CCI) is soliciting feedback on the draft Competition Commission of India (Determination of Turnover or Income) Regulations, 2023.
  • The Competition (Amendment) Act, 2023, introduced changes to Sections 27, 48, and Section 64, necessitating the formulation of regulations to determine turnover or income under specific clauses.
  • To comply with the amended sections, the CCI has proposed the draft CCI (Determination of Turnover or Income) Regulations, 2023.
  • These regulations outline the methodology for determining turnover or income concerning Section 27(b) and Section 48 of the Act.

Competition Commission of India (CCI)

  • The Competition Commission of India (CCI) is a statutory body of the Government of India responsible for enforcing the Competition Act, of 2002, it was duly constituted in March 2009.
  • The Monopolies and Restrictive Trade Practices Act, 1969 (MRTP Act) was repealed and replaced by the Competition Act, 2002, on the recommendations of the Raghavan committee.
  • Composition:
  • The Commission consists of one Chairperson and six Members who shall be appointed by the Central Government.

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