Quick Summary
The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi today has approved the Memorandum of Understanding (MOU) between Competition Commission of India (CCI) and Administrative Council for Economic Defense of Brazil (CADE).
Section 18 of the Competition Act, 2002 permits CCI to enter into any Memorandum or arrangement with any agency of any foreign country for the purpose of discharging its duties or performing its functions under the Act.
Accordingly, CCI has entered into the following six MoUs:
- Federal Trade Commission (FTC) and Department of Justice (DOJ), USA
- Director General Competition, European Union
- Federal Antimonopoly Service, Russia
- Australian Competition and Consumer Commission and
- Competition Bureau, Canada and
- BRICS Competition Authorities.
The present proposal relates to signing of a similar MOU between CCI and CADE.
FAQ :
The Union Cabinet has approved a Memorandum of Understanding (MoU) between the Competition Commission of India (CCI) and the Administrative Council for Economic Defense of Brazil (CADE).
The MoU aims to facilitate cooperation between the CCI and CADE in competition law enforcement, allowing them to work together in discharging their duties and performing their functions.
Section 18 of the Competition Act, 2002, permits the CCI to enter into Memoranda or arrangements with agencies of foreign countries.
Yes, the CCI has already entered into six similar MoUs with competition authorities from the USA (FTC and DOJ), European Union, Russia, Australia, Canada, and BRICS Competition Authorities.
The Union Cabinet meeting was chaired by the Prime Minister, Shri Narendra Modi.
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