This notification, S.O. 3714(E), issued by the Ministry of Corporate Affairs on November 22, 2017, exempts certain combinations involving Central Public Sector Enterprises (CPSEs) operating in the Oil and Gas sectors from the provisions of sections 5 and 6 of the Competition Act, 2002. The exemption applies to CPSEs operating under the Petroleum Act, 1934, and the Oilfields Regulation and Development Act, 1948, including their wholly or partly owned subsidiaries also operating in the Oil and Gas sectors. This exemption is granted in the public interest under Section 54(a) of the Competition Act, 2002, and is valid for a period of five years from the date of publication in the Official Gazette. The notification was issued under F. No. Comp-07/72017-Comp-MCA, and signed by K. V. R. Murty, Joint Secretary.
Key Entities Referenced
Competition Act, 2002: An act of the Indian Parliament to prevent practices having adverse effect on competition, to promote and sustain competition in markets, to protect the interests of consumers and to ensure freedom of trade carried on by other participants in markets, in India.
Central Government: The executive authority of the Union of India.
Central Public Sector Enterprises (CPSEs): Enterprises in which the direct holding of the Central Government or other CPSEs is 51% or more.
Oil and Gas Sectors: The sectors involved in the exploration, production, refining, and distribution of oil and natural gas.
Petroleum Act, 1934: An act to consolidate and amend the law relating to the import, transport, storage, production, refining and blending of petroleum and other inflammable substances.
Oilfields Regulation and Development Act, 1948: An act to provide for the regulation of oilfields and for the development of mineral oil resources.
Section 5 of the Competition Act, 2002: Deals with the regulation of combinations (mergers, acquisitions, and amalgamations) that cause or are likely to cause an appreciable adverse effect on competition within the relevant market in India.
Section 6 of the Competition Act, 2002: Prohibits combinations (mergers, acquisitions, and amalgamations) that cause or are likely to cause an appreciable adverse effect on competition within the relevant market in India.
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No. 3260] NEW DELHI, WEDNESDAY, NOVEMBER 22, 2017/AGRAHAYANA 1, 1939
ककककााााररररपपपपोोोोररररेेेेटटटट ककककाााायययय (cid:4)(cid:4) (cid:4)(cid:4)ममममं(cid:7)ं(cid:7)ं(cid:7)ं(cid:7)ााााललललयययय
अअअअििििधधधधससससचचूूचचूू ननननाााा
नई (cid:1)द(cid:3)ली, 22 नव(cid:8) बर, 2017
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कहा गया ह ै) क* धारा 54 के खंड (क) .ारा (cid:18)द/ त शि1 तय2 का (cid:18)योग करते 4ए, लोक िहत म(cid:12) अिधिनयम क* धारा 5 के अधीन समु9य
के सभी मामल2 को, िजनम(cid:12) पे;ोिलयम अिधिनयम, 1934 (1934 का 30) तथा तदधीन बनाए गए िनयम2 या तेल=े> (िविनयमन और
िवकास) अिधिनयम, 1948 (1948 का 53) और तदधीन बनाए गए िनयम2 के अधीन तेल और गैस =े> म(cid:12) (cid:18)चालन कर रह े क(cid:12)(cid:13)ीय
पिAलक से1टर उपCम (सीपीएसई) अंतव(cid:24)िलत हE, क* पूण(cid:24) या आंिशक (cid:21)वािम/व म(cid:12) तेल और गैस =े> म(cid:12) (cid:18)चालन कर रही समनुषंिगय2 को,
अिधिनयम क* धारा 5 और धारा 6 के उपबंध2 से, राजप> म(cid:12) इस अिधसूचना के (cid:18)काशन क* तारीख से पांच वष(cid:24) क* अविध के िलए छूट
(cid:18)दान करती ह ै।
[फा. सं. (cid:18)ित.-07/7/2017-(cid:18)ित.-एमसीए]
के. वी. आर. मूMत(cid:24), संयु1 त सिचव
MINISTRY OF CORPORATE AFFAIRS
NOTIFICATION
New Delhi, the 22nd November, 2017
S.O. 3714(E).—In exercise of the powers conferred by clause (a) of Section 54 of the Competition Act, 2002
(12 of 2003) (herein after referred to as the Act), the Central Government in the public interest hereby exempts all cases
of combinations under section 5 of the Act involving the Central Public Sector Enterprises (CPSEs) operating in the Oil
and Gas Sectors under the Petroleum Act, 1934 (30 of 1934) and the rules made thereunder or under the Oilfields
(Regulation and Development) Act, 1948 (53 of 1948) and the rules made thereunder, along with their wholly or partly
owned subsidiaries operating in the Oil and Gas Sectors, from the application of the provisions of sections 5 and 6 of
the Act, for a period of five years from the date of publication of this notification in the Official Gazette.
[F. No. Comp-07/7/2017-Comp-MCA]
K. V. R. MURTY, Jt. Secy.
6848 GI/2017
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.