Section 27: Appointment of independent agencies to oversee modification

CCI (Procedure in regard to the transaction of business relating to combinations) Regulations, 2011 (No. 3 of 2011)Central Regulations · 2003

(1) Where the Commission is of the opinion that the modification proposed by it and accepted by the parties to the combination needs supervision, it may appoint agencies, to oversee the modification, on such terms and conditions as may be decided by the Commission.

(2) The agencies appointed under sub-regulation (1) shall be independent of the parties to the combination having no conflicts of interest. Such independent agencies referred to in this 48 THE GAZETTE OF INDIA : EXTRAORDINARY [PART Hi—SEC. 4] regulation may inciude an accounting firm, management consultancy,- law firm, any other professional organization, or part thereof, or independent practitioners of repute.

(3) The agencies appointed under sub-regulation (1) shaii carry out the responsibilities as specified by the Commission from time to time.

(4) The agencies appointed under sub-regulation (1) shaii submit a report to the Commission upon completion of each of the actions required for carrying out the modification.

(5) The payment to the agencies appointed under sub-regulation (1) shall be made by 'he parties to the combination by depositing it with the Commission or as may be directed by the Comrrm

Where this provision sits

Act	CCI (Procedure in regard to the transaction of business relating to combinations) Regulations, 2011 (No. 3 of 2011)
Section	27
Marginal note	Appointment of independent agencies to oversee modification
Jurisdiction	Central
Status	In force as published by the source

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