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CUTS highlights competition law panel's failure on NCP
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SME Times News Bureau | 20 Aug, 2019
The Competition Law Review Committee, which recently submitted its
report, has failed to institutionalise a national competition policy
(NCP), said the Consumer Unity & Trust Society (CUTS) International,
a non-governmental organisation, here on Tuesday.
The over
200-page report, submitted to Union Finance Minister Nirmala Sitharaman
on August 14, contains several recommendations, including changes in the
Competition Act, 2002.
"While some recommendations of the panel
are welcome, few need further public deliberations before being accepted
by the government," said Pradeep S. Mehta, Secretary General, CUTS
International.
"Tragically, the committee discussed the NCP but
did not suggest ways to implement it, which would have ushered in
much-needed structural reforms in the economy in today's downturn," he
said.
"The recommendations with respect to ensuring financial
independence of the Competition Commission of India (CCI); introduction
of a dedicated bench in the National Company Law Appellate Tribunal to
entertain appeals from the CCI; having more non-binding guidelines,
including on imposition of penalty; recognition of nuances that are
typical of digital economy; introduction of merger threshold based on
deal value; and introduction of settlement mechanisms (summary disposal)
are some of the noteworthy suggestions," Mehta said.
Certain
recommendations suggesting changes in the present governance structure,
such as introduction of a governance board and merging investigation
wing (Director General) with the CCI, needed further public discussions
before their acceptance by the government, he said.
Last year,
CUTS International had made a detailed submission to the Competition Law
Review Committee and the panel has taken cognisance of most suggestions
in the report.
But Mehta termed the panel's response to its
suggestions regarding competition reform advocacy and its failure in
institutionalising the NCP as unexpected, particularly when the economy
was witnessing growing anti-competition conduct amid slowdown.
"If
the resources meant for envisaged governance board are vested in
institutionalising the NCP, it would not only promote economic democracy
but would also provide an external perspective to the CCI," Mehta said.
However,
the committee had shown maturity while giving clarifications with
respect to the competition law's interface with digital economy,
including suggesting more market inquiries and periodic review of market
trends, he added.
The CUTS International is examining the report and will submit its comments to the government soon.
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