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CMA Final · Corporate and Economic Laws · The Competition Act, 2002

Under Section 29A, parties to a combination submit an offer of modification, and the Commission does not accept it. Which sequence of timelines is correct?

The Commission must communicate within seven days of receiving the proposed modification why it is not sufficient. The parties may then furnish a revised modification within twelve days of receiving that communication. The twenty-five day period applies only to explaining the statement of objections.

  1. AWithin twelve days the Commission communicates its reasons; the parties then have seven days to furnish a revised modification
  2. BWithin seven days of receipt the Commission communicates why the modification is insufficient; the parties may furnish a revised modification within twelve days of receiving that communicationCorrect
  3. CWithin twenty-five days the Commission communicates its reasons; the parties then have twelve days to revise
  4. DWithin seven days of receipt the Commission communicates its reasons; the parties then have twenty-five days to revise

Explanation

Section 29A(3) requires the Commission, if it does not accept the modification, to communicate within seven days of receipt why it is insufficient. It then calls upon the parties to furnish a revised modification within twelve days of receiving that communication. The other options swap or alter these periods.

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