Bill to Amend the Competition Act, 2002 Moved in the Parliament
On 10 December, 2012, the Central Government introduced the Competition (Amendment) Bill, 2012 (the Bill) in Parliament. In October 2012, the Union Cabinet had approved the proposal submitted to it by the Ministry of Corporate Affairs, to amend certain provisions of the Competition Act (the Act) related to (i) merger control, and (ii) consultation between the Competition Commission of India (the Commission) and statutory authorities.
The Bill also envisages amendments to certain other provisions of the Act, related to (i) the prohibition on anti-competitive agreements and on the abuse of dominant position, (ii) hearing the concerned parties in an inquiry, and (iii) the Director-General’s powers of search and seizure. This article deals with the salient features of the Bill.
Topics: Legislation & Regulation