Act Number: 12

Act Name: The Competition Act, 2002

Year: 2003

Enactment Date: 2003-01-13

Long Title: An Act to provide, keeping in view of the economic development of the country, for the establishment of a Commission to prevent practices having adverse effect on competition, to promote and sustain competition in markets, to protect the interests of consumers and to ensure freedom of trade carried on by other participants in markets, in India, and for matters connected therewith or incidental thereto.

Ministry: Ministry of Corporate Affairs

Department:

Section 64A: Process of issuing regulations.
    1[64A. Process of issuing regulations.--The Commission shall ensure transparency while making regulations under section 64, by--
         (a) publishing draft regulations along with such other details as may be specified on its website and inviting public comments for a specified period prior to issuing regulations;
         (b) publishing a general statement of its response to the public comments, not later than the date of notification of the regulations;
         (c) periodically reviewing such regulations:
     Provided that if the Commission is of the opinion that certain regulations are required to be made or existing regulations are required to be amended urgently in public interest or the subject matter of the regulation relates solely to the internal functioning of the Commission, it may make regulations or amend the existing regulations, as the case may be, without following the provisions stated in this section recording the reason, for doing so.]
    
Notes:
1. Ins. by Act 9 of 2023, s. 45 (w.e.f. 18-5-2023).
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