{"act":{"id":"finance-act-2017","short_title":"The Finance Act, 2017","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2017-2018.","act_number":null,"act_year":2017,"enact_date":"2017-04-17","enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":198,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2017/"},"unit":"section","section":{"number":"171","heading":"Amendment of Act 12 of 2003","text":"H.—AMENDMENTS TO THE COMPETITION ACT, 2002 AND THE COMPANIES ACT, 2013. Amendment of Act 12 of 2003 171. In the Competition Act, 2002,— (a) | in section 2, for clause (ba), the following clause shall be substituted, namely:— '(ba) \"Appellate Tribunal\" means the National Company Law Appellate Tribunal referred to in sub-section (1) of section 53A;'; (b) | in Chapter VIIIA, for the heading, the following heading shall be substituted, namely:— \"APPELLATE TRIBUNAL\"; (c) | for section 53A, the following section shall be substituted, namely:— \"53A. Appellate Tribunal.— The National Company Law Appellate Tribunal constituted under section 410 of the Companies Act, 2013 (18 of 2013) shall, on and from the commencement of Part XIV of Chapter VI of the Finance Act, 2017, be the Appellate Tribunal for the purposes of this Act and the said Appellate Tribunal shall— (a) | hear and dispose of appeals against any direction issued or decision made or order passed by the Commission under sub-sections (2) and (6) of section 26, section 27, section 28, section 31, section 32, section 33, section 38, section 39, section 43, section 43A, section 44, section 45 or section 46 of this Act; and (b) | adjudicate on claim for compensation that may arise from the findings of the Commission or the orders of the Appellate Tribunal in an appeal against any finding of the Commission or under section 42A or under sub-section (2) of section 53Q of this Act, and pass orders for the recovery of compensation under section 53N of this Act.\"; (c) | sections 53C, 53D, 53E, 53F, 53G, 53H, 53-I, 53J, 53K, 53L, 53M and 53R shall be omitted; (d) | in section 63, in sub-section (2), clauses (mb), (mc) and (md) shall be omitted.","html":"

H.—AMENDMENTS TO THE COMPETITION ACT, 2002 AND THE COMPANIES ACT, 2013.

Amendment of Act 12 of 2003

171. In the Competition Act, 2002,—

(a)in section 2, for clause (ba), the following clause shall be substituted, namely:—
'(ba) \"Appellate Tribunal\" means the National Company Law Appellate Tribunal referred to in sub-section (1) of section 53A;';
(b)in Chapter VIIIA, for the heading, the following heading shall be substituted, namely:—

\"APPELLATE TRIBUNAL\";

(c)for section 53A, the following section shall be substituted, namely:—
\"53A. Appellate Tribunal.— The National Company Law Appellate Tribunal constituted under section 410 of the Companies Act, 2013 (18 of 2013) shall, on and from the commencement of Part XIV of Chapter VI of the Finance Act, 2017, be the Appellate Tribunal for the purposes of this Act and the said Appellate Tribunal shall—
(a)hear and dispose of appeals against any direction issued or decision made or order passed by the Commission under sub-sections (2) and (6) of section 26, section 27, section 28, section 31, section 32, section 33, section 38, section 39, section 43, section 43A, section 44, section 45 or section 46 of this Act; and
(b)adjudicate on claim for compensation that may arise from the findings of the Commission or the orders of the Appellate Tribunal in an appeal against any finding of the Commission or under section 42A or under sub-section (2) of section 53Q of this Act, and pass orders for the recovery of compensation under section 53N of this Act.\";
(c)sections 53C, 53D, 53E, 53F, 53G, 53H, 53-I, 53J, 53K, 53L, 53M and 53R shall be omitted;
(d)in section 63, in sub-section (2), clauses (mb), (mc) and (md) shall be omitted.
","words":291,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2017/section/171/","note":null,"source_note":"Harvested from the Income Tax Department's own portal at incometaxindia.gov.in, which publishes the Finance Acts section by section. India Code carries none of them: its Central community holds the Acts that stand as general law, and a Finance Act is an amending and rate-fixing instrument.","judgments_note":"Judgment holdings are the ratio decidendi as extracted from the order by eCourts India, reproduced unaltered. Reported judgments only.","licence":"Published with commentary and other original matter under s.52(1)(q)(ii), Copyright Act 1957."}