Please visit MCA website for complete text of the circular:
http://www.mca.gov.in/Ministry/pdf/Companies_ rules_15Mar2011.pdf
The following Notifications for affecting sections 5, 6, 20, 29, 30 & 31 of Competition Act have been issued vide Notification dated 4-3-2011.
1. In exercise of the powers conferred by clause (a) of section 54 of the Competition Act, 2002 (12 of 2003), the Central Government, in public interest, hereby exempts an enterprise, whose control, shares, voting rights or assets are being acquired has assets of the value of not more than Rs.250 crores or turnover of not more than RS.750 crores from the provisions of section 5 of the said Act for a period of five years.
2. In exercise of the powers conferred by clause (a) of section 54 of the Competition Act, 2002 (12 of 2003), the Central Government, in public interest, hereby exempts the ‘Group’ exercising less than 50% of voting rights in other enterprise from the provisions of section 5 of the said Act for a period of five years.
3. In exercise of the powers conferred by subsection (3) of section 1 of the Competition Act, 2002 (12 of 2003), the Central Government hereby appoints the 1st day of June, 2011 as the date on which sections 5, 6, 20, 29, 30 and section 31 of the said Act shall come into force.
4. In exercise of the powers conferred by subsection (3) of section 20, of the Competition Act, 2002 (12 of 2003), the Central Government, in consultation with the Competition Commission of India, hereby enhance, on the basis of the wholesale price index, the value of assets and the value of turnover, by 50% for the purposes of section 5 of the said Act.
Please visit MCA website for complete text of the notification:
http://www.mca.gov.in/Ministry/notification/pdf/ Notification_4mar2011(4).pdf
