IASCLUB PIB News Summary : 14 August 2019

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Competition Law Review Committee Report

Secretary (Corporate Affairs), presented the Report of the Competition Law Review Committee to the Union Minister of Finance and Corporate Affairs.

  • The Committee focused on furthering ease of doing business, encouraging start-ups and meeting the challenges of the new economy.

The key recommendations of the Competition Law Review Committee are:

  • Introduction of a ‘Green Channel’for combination notifications to enable fast-paced regulatory approvals for vast majority of mergers and acquisitions that may have no major concerns regarding appreciable adverse effects on competition. The aim is to move towards disclosure based regime with strict consequences for not providing accurate or complete information.Combinations arising out of the insolvency resolution process under the Insolvency and Bankruptcy Code will also be eligible for “Green Channel” approvals.
  • Introducing a dedicated bench in NCLAT for hearing appeals under the Competition Act.
  • Introduction of express provisions to identify ‘hub and spoke’agreements as well as agreements that do not fit within typical horizontal or vertical anti-competitive structures to cover agreements related to business structures and models synonymous with new age markets.
  • Additional enforcement mechanism of ‘Settlement & Commitments” in the interests of speedier resolution of cases of anti-competitive conduct.
  • Enabling provisions to prescribe necessary thresholds, inter alia, deal-value threshold for merger notifications.
  • CCI to issue guidelines on imposition of penalty to ensure more transparency and faster decision making which will encourage compliance by businesses.
  • Strengthening the governance structure of CCI with the introduction of a Governing Board to oversee advocacy and quasi-legislative functions, leaving adjudicatory functions to the Whole-time Members.
  • Merging DG’s Office with CCI as an ‘Investigation Division’ as it aids CCI in discharging an inquisitorial rather than adversarial mandate. However, functional autonomy must be protected.
  • Opening of CCI offices at regional level to carry out non-adjudicatory functions such as research, advocacy etc. and interaction with State Governments and State regulators.

Background:

  • The Government constituted a Competition Law Review Committee on 1st October, 2018 to review the existing Competition law framework and make recommendations to further strengthen the framework to inter alia meet new economy challenges.

Shri Piyush Goyal launches CORAS (Commandos For Railway Security) of Indian Railways

Minister of Railways and Commerce &Industry,Shri Piyush Goyal launched CORAS (Commando for Railway Security) of Indian Railways and new establishment manual for Railway Protection Force today.

Key points:

  • Keeping in mind the threat from disruptive forces, induction of CORAS was planned in Railway Protection Force.
  • CORAS team will be provided best, most modern equipment and world class training.
  • A new state of the art commando training centre to be established in Jagadhri, Haryana.
  • A new network of CCTV cameras at every station will be set up to enhance the security of Railway passengers. The link of these cameras will be given to the local stations, GRP, RPF, Divisional office and to the Minister’s office.

BACKGROUND OF CORAS (Commandos for Railway Security)

VISION STATEMENT

  • To develop world level capabilities of specialized responder for any situation pertaining to damage, disturbance, disruption of train operations, attack/hostage/hijack, disaster situations in railway areas.
  • Following the doctrine of graded response, minimum effective force shall be used for providing fool proof security to Indian Railways and its users.

SALIENT FEATURES

  • Carved out from motivated and willing young staff of RPF/RPSF.
  • With an average age between 30-35 years, CORAS will always be young and motivated staff.
  • Very high physical standards to join CORAS.
  • Commando Coys shall be deployed in Left Wing Extremism (LWE)/Insurgency/Terrorism affected Railway areas.

 

 

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