This notification, S.O. 1034(E), issued by the Ministry of Corporate Affairs on March 11, 2020, exempts banking companies, under specific conditions, from certain provisions of the Competition Act, 2002. Specifically, a banking company for which the Central Government has issued a notification under Section 45 of the Banking Regulation Act, 1949, is exempted from the application of Sections 5 and 6 of the Competition Act, 2002. This exemption is granted in the public interest and is valid for a period of five years from the date of publication of the notification in the Official Gazette. The notification was issued under the authority of clause (a) of section 54 of the Competition Act, 2002. The file number for this notification is F. No. Comp0562020CompMCA. The issuing authority is K. V. R. Murty, Joint Secretary.
Key Entities Referenced
Competition Act, 2002: An Indian law that regulates competition by prohibiting anti-competitive agreements and abuse of dominant position by enterprises.
Central Government: The executive authority of the Union of India.
Banking Regulation Act, 1949: An Indian law that regulates the banking sector in India.
Section 54 of the Competition Act, 2002: Clause a of this section confers powers to the Central Government to provide exemptions.
Section 45 of the Banking Regulation Act, 1949: A section of the Banking Regulation Act under which the Central Government issues notifications related to banking companies.
Sections 5 and 6 of the Competition Act, 2002: These sections contain provisions related to anti-competitive agreements and abuse of dominant position, respectively.
Banking Company: A company that is licensed to accept deposits and make loans.
New Delhi: The capital of India, where the Ministry of Corporate Affairs is located.
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. NO. D. L.-33004/99
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सी.जी.-डी.एल.-अ.-11032020-218600
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असाधारण
EXTRAORDINARY
भाग II—खण् ड 3—उप-खण्ड (ii)
PART II—Section 3—Sub-section (ii)
प्राजधकार स ेप्रकाजित
PUBLISHED BY AUTHORITY
स.ं 929] नई दिल्ली, बुधिार, माच य11, 2020/फाल्ग नु 21, 1941
No. 929] NEW DELHI, WEDNESDAY, MARCH 11, 2020/PHALGUNA 21, 1941
कारपोरेट कार् यमत्रं ालर्
अजधसचू ना
नई दिल्ली, 11 माचय, 2020
का.आ. 1034(अ).—केंद्रीर् सरकार, प्रजतस्ट्पधाय अजधजनर्म, 2002 (2003 का 12) की धारा 54 के खंड (क) द्वारा प्रित्त
िजिर्ों का प्रर्ोग करते हुए एक बैंककारी कंपनी, जिसके संबंध में केंद्रीर् सरकार ने बैंककारी जिजनर्मन अजधजनर्म, 1949 (1949
का 10) की धारा 45 के अधीन अजधसूचना िारी की ह,ै को लोकजहत में रािपत्र में इस अजधसूचना के प्रकािन की तारीख से पांच
िर्षों की अिजध के जलए प्रजतस्ट्पधाय अजधजनर्म, 2002 की धारा 5 और धारा 6 के लागू होने से छूट प्रिान करती है।
[फा. सं. कॉम्प-05/6/2020-कॉम्प-एमसीए]
के. िी. आर मूर्तय, संर्ुि सजचि
MINISTRY OF CORPORATE AFFAIRS
NOTIFICATION
New Delhi, the 11th March, 2020
S.O. 1034(E).—In exercise of the powers conferred by clause (a) of section 54 of the Competition Act,
2002 (12 of 2003), the Central Government hereby exempts a Banking Company in respect of which the Central
Government has issued a notification under Section 45 of the Banking Regulation Act, 1949 (10 of 49), from the
application of the provisions of Sections 5 and 6 of the Competition Act, 2002, in public interest for a period of five
years from the date of publication of this notification in the Official Gazette.
[F. No. Comp-05/6/2020-Comp-MCA]
K. V. R. MURTY, Jt. Secy.
1362 GI/2020
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