Home / Companies / News / Competition Bill: Panel asks for explicit definition of material influence

Competition Bill: Panel asks for explicit definition of material influence

FICCI in its response to the standing committee had said that the introduction of material influence as proposed would still keep its definition vague and open to interpretation

proposed Competition (Amendment) Bill 2022

Premium

MCA has talked about positive and negative control - the latter is about the ability to block special resolution which would determine the material influence

Ruchika Chitravanshi New Delhi

3 min read Last Updated : Dec 14 2022 | 10:43 PM IST

The parliamentary standing committee on finance in its report has asked the corporate affairs ministry (MCA) to clarify the definition of material influence threshold — which has been introduced in the Competition Amendment Bill to ascertain who has control over an enterprise.

MCA has talked about positive and negative control — the latter is about the ability to block special resolution, which would determine the material influence. The committee has also said intellectual property rights (IPR) should be included as a defence against abuse of dominant position.

“In order to ensure ease of doing business, the Competition Commission of India

Topics : competition law Ministry of Corporate Affairs intellectual property rights Competition Commission of India FICCI intellectual property competition

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in