The Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Amendment Regulations, 2014 - ADVT. III/4/Exty./187-M/13 - Indian Law

THE COMPETITION COMMISSION OF INDIA NOTIFICATION New Delhi, the 28th March, 2014 The Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Amendment Regulations, 2014 F. No. CCI/CD/Amend/Comb. Regl./2014. In 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, namely: 1. Short title and commencement. (1) These regulations may be called the Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Amendment Regulations, 2014. (2) They shall come into force on the date of their publication in the Official Gazette. 2. In the Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Regulations, 2011, (1) in regulation 9, after sub-regulation (4), the following sub-regulation shall be inserted, namely: (5) The requirement of filing notice under regulation 5 of these regulations shall be determined with respect to the substance of the transaction and any structure of the transaction(s), comprising a combination, that has the effect of avoiding notice in respect of the whole or a part of the combination shall be disregarded. ; (2) in regulation 11, (a) in clause (a), for the words, brackets and the figures rupees ten lakhs (Rs. 10,00,000) only; , the following shall be substituted, namely:- rupees fifteen lakhs (Rs. 15,00,000) only; ; (b) in clause (b), for the words, brackets and the figures rupees forty lakhs (Rs. 40,00,000) only; , the following shall be substituted, namely: rupees fifty lakhs (Rs. 50,00,000) only; ; (3) in regulation 14, in sub-regulation (3), after the words regulation 8 of these regulations , the following words shall be inserted, namely: or any response filed pursuant to these regulations ; (4) regulation 29 shall be omitted; (5) in Schedule I, category (10) shall be omitted; (6) in Schedule II, (a) in Form I, (i) in paragraph 5.1, for clause (f), the following clause shall be substituted, namely: (f) any horizontal overlap or vertical relationship between the business of the parties to the combination (including between target company and acquirer or any enterprise of the group) ; (ii) after paragraph 6.7, the following paragraph shall be inserted, namely: 6.8 Whether this combination is subject to filing requirements in jurisdictions other than India? If yes, list the notified, or to be notified, jurisdictions along with the certified copy(s) of the order(s)/decision(s) passed in that jurisdiction. ; (b) in Form II, (i) for paragraph 8.2, the following paragraph shall be substituted, namely: 8.2 Furnish the following details, as per audited annual accounts of immediately preceding two financial years, separately, for all the parties to the combination: Name of enterprise(s) Year Value of assets Aggregate Turnover In India (Rs. In crore) Worldwide (US$ in Million) In India (Rs. In crore) Worldwide (US$ in Million) ; (ii) under the heading VERIFICATION , the words IMPORTANT: ALL COMBINING PARTIES MUST VERIFY THE CONTENTS BY SIGNING ON EACH PAGE OF FORM AND ON THIS PAGE shall be omitted. SMITA JHINGRAN, Secy. [ADVT. III/4/Exty./187-M/13] Note : Principal Regulations published vide Notification No. F. No. 1-1/ Combination Regulations/2011-12/CD/CCI in the Gazette of India, Extraordinary, Part III, Section 4, dated the 11th May, 2011. Subsequently amended vide notification No. F. No. 3-1/Amend/Comb. Regl./2012/CD/CCI in the Gazette of India, Extraordinary, Part III, Section 4, dated the 23rd February, 2012 and vide notification No. F. No. 3-1/Amend/Comb. Regl./2013/CD/CCI in the Gazette of India, Extraordinary, Part III, Section 4, dated 4th April, 2013.