(a) whether the Government has any plan to revamp the MRTP Act and set up the Competition Commission of India (CCI);
(b) if so, the features of new commission;
(c) the time by which the said commission would start their functioning; and
(d) the details thereof?
MINISTER OF LAW, JUSTICE AND COMPANY AFFAIRS (SHRI ARUN JAITLEY)
(a) to (d) : The Government has introduced the Competition Bill - 2001 in the Lok Sabha on 6.8.2001 which, inter-alia, provides for repeal of MRTP Act, 1969 and for setting up an adjudicating relief machinery by way of a Competition Commission of India (CCI), which would be a Quasi-Judicial body. CCI will have a Chairperson and not less than two, and not more than ten, other members as may be specified by the Central Government.
The CCI will have the following powers:
- to issue `Cease and Desist` orders - to grant such interim relief as would be necessary in each case - to award compensation - to impose fines on the guilty - to order division of dominant undertaking - power to order de-merger - power to order costs for frivolous complaints.
Amongst others, the CCI will also have the role of advocacy, investigation and prosecution.