CCI unveiled three new regulations and guidelines

CCI unveils three new regulations: The Competition Commission of India (CCI) has unveiled three new regulations and guidelines, in line with the Competition (Amendment) Act, 2023. “Effective from March 6, 2024, The CCI (Settlement) Regulations, 2024, the CCI (Commitment) Regulations, 2024, and the CCI (Determination of Turnover or Income) Regulations, 2024. Additionally, the CCI has issued the CCI (Determination of Monetary Penalty) Guidelines, 2024,” the government release said on Friday.

The Settlement Regulations and Commitment Regulations provide mechanisms for enterprises under inquiry for alleged contraventions of specified sections. These mechanisms, designed to streamline processes and ensure prompt market correction, differ based on the inquiry stage.

The Turnover or Income Regulations delineate the determination process for turnover or income for enterprises and individuals, catering to relevant sections of the Act. The Monetary Penalty Guidelines are introduced to guide the proportional imposition of penalties on entities or individuals for violating the Act.

The CCI's decision to unveil these regulations and guidelines underscores its commitment to fostering a competitive business environment in India. The comprehensive public consultation process undertaken by the CCI, incorporating stakeholder feedback, emphasizes a collaborative approach to regulatory development.