![]() Financial Daily from THE HINDU group of publications Monday, Apr 18, 2005 |
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Corporate
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Policy Competition Commission in a board-like avatar Richa Mishra
New Delhi , April 17 THE Competition Commission of India (CCI) in its proposed new avatar is likely to get a board-like structure on the lines of SEBI. The Government is mulling over the idea of doing away with the concept of having benches in the Commission. Following the directive of the Supreme Court, the Ministry of Company Affairs is bringing in amendments to the Competition Act, 2002. Official sources told Business Line that besides bringing down the strength of the CCI, an advisory and regulatory role is also being considered for the board of the commission to prevent anti-competitive practices, promote competition and protect the interests of consumers. Currently, the Act stipulates the formation of benches, which would be constituted by the chairperson comprising not less than two members. Besides, every bench would consist of at least one judicial member. "With the proposal to set up an appellate authority, the CCI will be more like a tribunal. On any controversial issue, the board can take a collective decision," the sources pointed out. Further, this would also change the procedure stipulated in the Act for deciding a case where members of a bench differ in opinion. The Act states that if the members of a bench differ in opinion on any point, they shall state the point of difference, and make a reference to the chairperson, who shall either hear the point or refer the case for hearing to other members. The concept of collective consensus by a board would help solve this problem, the sources said. In fact, the Government is also toying with the idea of proposing the concept of a `quorum.'
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