The parties intending to file a notice with the Competition Commission prior to filing of the notice to a proposed combination in terms of Regulation 5 of Combinations Regulations are encouraged to approach the Commissio
CS Professional · Corporate Restructuring, Insolvency, Liquidation & Winding-up · PYQS · December 2021
The parties intending to file a notice with the Competition Commission prior to filing of the notice to a proposed combination in terms of Regulation 5 of Combinations Regulations are encouraged to approach the Commission for pre-filing consultations. Outline the procedure to be followed along with details to be submitted to the Commission in this respect.
Answer & Explanation:
In accordance with international best practices, the Commission allows for an informal and verbal consultation with the staff of the Commission prior to filing of the notice to a proposed combination in terms the Competition Act, 2002 and the Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Regulations, 2011. Such pre-filing consultations help the parties intending to file a notice with the Commission in identifying the information required for filing a complete and correct Form I/II/III as well in identifying additional information that the Commission may require to assess the likely impact of the proposed combination on competition in the relevant markets. The parties intending to file a notice with the Commission are encouraged to approach the Commission for pre-filing consultations. A request for pre-filing consultation should be made by the parties intending to file a notice at the earliest and at least 10 days before the intended date of filing, to allow time for allocating a case team for the pre-filing consultation. A copy of draft application comprising of Form I/II/III, as the case may be and supporting documents should be forwarded along with the request for scheduling a pre filing consultation. A summary of the proposed combination along with the following details should also be submitted: Basic details of the proposed combination including various steps involved in the same; A brief description of the relevant market(s) and sector(s) involved; The likely impact of the proposed combination on competition in those markets and sectors in general terms; Key issues regarding which the parties wish to seek consultation from the Commission; Any other details which according to the parties may be pertinent for a meaningful consultation.
Topics: Competition Law
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