(1)

With effect from such date as the Central Government may, by notification, appoint, there shall be established, for the purposes of this Act, a Commission to be called the "Competition Commission of India ".

(2)

The Commission shall be a body corporate by the name aforesaid having perpetual succession and a common seal with power, subject to the provisions of this Act, to acquire, hold and dispose of property, both movable and immovable, and to contract and shall, by the said name, sue or be sued.

(3)

The head office of the Commission shall be at such place as the Central Government may decide from time to time. (4) The Commission may establish offices at other places in India. [8. Composition of Commission. -

(1)

The Commission shall consist of a Chairperson and not less than two and not more than six other Members to be appointed by the Central Government.

(2)

The Chairperson and every other Member shall be a person of ability, integrity and standing and who has special knowledge of, and such professional experience of not less than fifteen years in, international trade, economics, business, commerce, law, finance, accountancy, management, industry, [technology,] public affairs or competition matters, including competition law and policy, which in the opinion of the Central Government, may be useful to the Commission.

(3)

The Chairperson and other Members shall be whole-time Members.]

[9. Selection Committee for Chairperson and Members of Commission. -

(1)

The Chairperson and other Members of the Commission shall be appointed by the Central Government from a panel of names recommended by a Selection Committee consisting of -

(a) the Chief

Justice of India or his nominee

Chairperson;

(b) the Secretary

in the Ministry of Corporate Affairs

Member;

(c) the Secretary

in the Ministry of Law and Justice

Member;

(d)

two experts of repute who have special knowledge of, and

professional experience in international trade, economics,

business, commerce, law, finance, accountancy, management,

industry, [technology,]() public affairs or competition matters including

competition law and policy.

Members.

(2)

The term of the Selection Committee and the manner of selection of panel of names shall be such as may be prescribed.]