NEW DELHI: Fair commerce regulator CCI on Wednesday issued draft rules for dedication and settlement provisions underneath the competitors regulation. The provisions, launched within the Competition Act by amendments made earlier this yr, are aimed toward making certain faster market correction, based on CCI.
Stakeholders can submit their feedback on the draft rules from August 24 to September 13.
The dedication mechanism will allow an enterprise towards whom an inquiry is on for alleged contravention of the competitors regulation to supply commitments earlier than CCI. Similarly, the settlement mechanism will permit such enterprises to use for settlement earlier than the regulator. “The intent of creating a procedure for commitment is driven by the need to ensure quicker market correction,” the watchdog stated.
Stakeholders can submit their feedback on the draft rules from August 24 to September 13.
The dedication mechanism will allow an enterprise towards whom an inquiry is on for alleged contravention of the competitors regulation to supply commitments earlier than CCI. Similarly, the settlement mechanism will permit such enterprises to use for settlement earlier than the regulator. “The intent of creating a procedure for commitment is driven by the need to ensure quicker market correction,” the watchdog stated.
