MCA Issues Notification: Section 12 of Competition (Amendment) Act, 2023 Shall Come into Force with Effect From 18 July, 2023

MCA Issues Notification: Section 12 of Competition (Amendment) Act, 2023 Shall Come into Force with Effect From 18 July, 2023

The Ministry of Corporate Affairs has notified that 18th July, 2023 shall be the effective date for the enforcement of Section 12 of the Competition (Amendment) Act, 2023.

Section 12 of the Amendment Act, 2023 amends Section 16 of the Competition Act, 2002.

Section 16 of the Competition Act, 2002 relates to the Appointment of Director General, by the Commission with prior approval of the Central Government, to assist the Commission in conducting inquiry into if any provision of this Act is contravened.

As per the Section 12 of the Competition (Amendment) Act, the Commission may, with the prior approval of the Central Government appoint Director General for the purpose of assisting the Competition Commission of India (CCI) in conducting an inquiry into contraventions of the Act with effect from 18 July, 2023.