Law: Competition Ordinance, 2007

Section: 4

Competition Ordinance (LII of 2007)---S. 4---Competition Commission Appeal Rules, 2007, R.20---Interim relief, grant of---Institution of Chartered Accountants of Pakistan (I.C.A.P.) had filed application for interim relief in appeal filed against order passed by Single Member in a matter of fixing minimum hourly charge out rates and minimum fee for audit engagements by Chartered Accountants---Under Rule 20(3) of Competition Commission Appeal Rules, 2007, Appellate Bench was required to exercise its power to grant interim relief after taking into account all the relevant circumstances, including three crucial factors viz; the urgency of the matter; the effect on the party praying for relief, if relief was not granted; and the effect on competition if relief was granted---Applicant had not fully made a case for grant of an interim relief as provided under said Rules, but in given facts and circumstances of the case, it was observed; that urgency in the matter could be appreciated as the applicant would be liable to a penalty of Rs.300,000 (three lac) per day if it would not comply with the direction of impugned order on or before specified date; that since applicant was a professional body and not a commercial undertaking, out-come of proceedings was likely to impact a large number of professionals across the country, it was, in circumstances, in public interest that matter be finally settled by the Commission and allowing any penalty to incur prior to the final decision in the appeal, would not appear to serve the interest of justice in the particular facts of the case; that grant of stay would not have any impact on competition as the time was not material and appointments (if any) that could be made in such period, were not substantial; and that suspending the impugned order till the final disposal of the appeal, was not likely to unduly affect competition in the relevant market at that stage---Impugned order, in circumstances, was suspended pending final decision of the Bench in the appeal. ORDER The Institute of Chartered Accountants of Pakistan (ICAP) has filed an Application for interim relief in the Appeal filed against the order dated December 4, 2008…

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