SSC CGL 2022 PYQ — Question 40

The correct answer is Option 3. i.e. 150.

The Bill proposes to reduce the timeline for the CCI to pass an order on such transactions from 210 days to 150 days.

Competition (Amendment) Bill - The Bill seeks to amend the Competition Act, 2002, to regulate mergers and acquisitions based on the value of transactions. Deals with transaction value of more than Rs 2,000 crore will require CCI's approval.

• The Bill expands the scope of entities that can be adjudged to be a part of anti-competitive agreements.  Currently, enterprises or persons engaged in similar businesses can be held to be a part of anti-competitive agreements.  The Bill expands this to also include enterprises or persons who are not engaged in similar businesses.

• The Bill provides a framework for settlement and commitment for faster resolution of investigations of anti-competitive agreements and abuse of dominant position. 

• The Bill decriminalises certain offences under the Act by changing the nature of punishment from imposition of fine to civil penalties.  These offences include failure to comply with orders of the CCI and directions of the Director General related to anti-competitive agreements and abuse of dominant position.
• The Act allows the use of intellectual property rights as a defence in cases of anti-competitive agreements.  This defence is not available in cases involving abuse of dominant position.  The Bill does not address this gap.