MRTPC to be wound up in two years

The MRTPC will cease to exist two years from now as the government has decided to notify Section 66 of the Competition Act on September 1. The MRTPC will now not take up any new cases. It will have two years to resolve the existing disputes, after which cases dealing with MRTP will be transferred to the CCI and those pertaining to unfair trade practices will be transferred to the consumer courts. With the notification of S.66 which is the sunset clause of the Competition Act, the MRTP Act, 1969 would be repealed though the Commission would get two years to wind up its operations.