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Core Purpose

Amendment fixing the consolidated monthly salary of the Chairperson and Members of the Competition Commission of India under Section 63(2)(d) read with Section 14(1) of the Competition Act, 2002.

Detailed Summary

The Ministry of Corporate Affairs issued G.S.R. 544(E) dated 2 September 2024, exercising powers under clause (d) of Section 63(2) read with Section 14(1) of the Competition Act, 2002 (12 of 2003), making the Competition Commission of India (Salary, Allowances and other Terms and Conditions of Service of Chairperson and other Members) Amendment Rules, 2024, which substitute Rule 3 of the 2003 Rules to fix, with effect from 1 January 2024, a consolidated monthly salary of five lakh sixty-two thousand five hundred rupees for the Chairperson and five lakh rupees for every Member, with no entitlement to house or car, and an explanatory memorandum stating that the retrospective effect does not adversely affect any person's interest; the principal rules were originally published vide G.S.R. 784(E) dated 6 October 2003 and last amended vide G.S.R. 190(E) dated 28 February 2018; signed by Manoj Pandey, Additional Secretary.

Full Text

5717 GI/202 4 (1) रजिस्ट्री सं. डी.एल.- 33004/99 REGD. No . D. L. -33004/99 EXTRAORDINARY PART II —Section 3 —Sub-section ( i) PUBLISHED BY AUTHORITY No. 502] NEW DELHI, FRIDAY , SEPTEMBER 6, 2024 /BHADRA 15, 1946 CG-DL-E-07092024-256976 MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 2nd September , 2024 G.S.R. 544(E).— In exercise of the powers conferred by clause (d) of sub -section (2) of section 63 read with sub -section ( 1) of section 14 of the Competition Act, 2002 (12 of 2003), the Central Government hereby makes the following rules further to amend the Competition Commission of India (Salary, Allowances and other Terms and Conditions of Service of Chairperson and other Members) Rules, 2003, namely: –– 1. (1) These rules may be called the Competition Commission of India (Salary, Allowances and other Terms and Conditions of Service of Chairperson and other Members) Amendment Rules, 2024. (2) They shall come into force from the date of their publication in the Official Gazette. 2. In the Competition Commission of India (Salary, Allowances and other Terms and Conditions of Service of Chairperson and other Members) Rules, 2003, for rule 3, the following rule shall be substituted, namely: –– “3. Pay. –– (1) With effect from the 1st day of January, 2024, the Chairperson shall be paid a consolidated monthly salary of five lakh sixty -two thousand five hundred rupees and every Member shall be paid a consolidated monthly salary of five lakh rupees and they shall not be entitled to house and car.”. [F. No. Comp -05/9/2024 -COMPT -MCA] MANOJ PANDEY , Addl . Secy . Explanatory Memorandum. –– It is hereby declared that by issuing the notification with retrospective effect, the interest of no person shall be adversely affected. Note: The principal rules were published in the Gazette of India, Extraordinary Part -II, Section 3, Sub-section (i) vide G.S.R. 784(E), dated the 6th October, 2003 and last amended vide number G.S.R. 190 (E), dated the 28th February, 2018. Uploaded by Dte. of Printing at Government of India Press, Ring R oad, Mayapuri, New Delhi -110064 and Published by the Controller of Publications, Delhi -110054.

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