CCI to avoid overlapping with other regulators: Govt
The government on Tuesday said the Competition Commission of India (CCI) would consult other sector specific regulators to avoid overlapping of functions.
By PTI |
NEW DELHI: The government on Tuesday said the Competition Commission of India (CCI) would consult other sector specific regulators to avoid overlapping of functions.
Minister for Corporate Affairs P C Gupta said in Rajya Sabha in a written reply that in case of overlapping the CCI would "make a reference to the other regulator for its opinion which would have to be indicated by the regulator in a time- bound manner".
He said that due to legal hurdles, CCI could not be made fully operational. However after amendment in the original law, the process of operationalisation of the commission has begun in terms of providing infrastructure to the regulatory body. Gupta did not give specific time-frame for Commission to start working.
Securities Exchange Board of India, Telecom Regulatory Authority of India, Forward Markets Commission and Insurance Regulatory and Development Authority are the sectoral regulators which may find overlapping of their work with the CCI.
Minister for Corporate Affairs P C Gupta said in Rajya Sabha in a written reply that in case of overlapping the CCI would "make a reference to the other regulator for its opinion which would have to be indicated by the regulator in a time- bound manner".
He said that due to legal hurdles, CCI could not be made fully operational. However after amendment in the original law, the process of operationalisation of the commission has begun in terms of providing infrastructure to the regulatory body. Gupta did not give specific time-frame for Commission to start working.
Securities Exchange Board of India, Telecom Regulatory Authority of India, Forward Markets Commission and Insurance Regulatory and Development Authority are the sectoral regulators which may find overlapping of their work with the CCI.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
