Competition panel to finally get teeth

The government today introduced the Competition Amendment Bill 2006 in the Lok Sabha, paving way for setting up of the much-touted powerful regulator of markets8212;the Competition Commission of India CCI.

The proposed amendment would lead to commencement of the Competition Act 2003 and dissolution of the Monopolies 038; Restrictive Trade Practices Commission .

The CCI is now a fledgling body with no teeth as the Act has not become law. Implementation of the Act was stuck due to the Supreme Court stay on judicial functioning of the Commission in October 2003.

Official sources said that as directed by the SC, the Commission would now be a body of 2-7 members sans judicial members and decision-making through benches. There would, however, be an appellate tribunal with quasi-judicial powers which would hear appeals against the CCI orders.