House panel approves Competition Amendment Bill with some tweaks

Dec 9, 2022

Synopsis
The report would be submitted in the Parliament in a few days, Jayant Sinha, chairman of the Parliamentary Standing Committee on Finance and Corporate Affairs, told ET.

A parliamentary panel on Thursday approved its report on the Competition Amendment Bill 2022, with some tweaks, according to the people familiar with the matter.

The report would be submitted in the Parliament in a few days, Jayant Sinha, chairman of the Parliamentary Standing Committee on Finance and Corporate Affairs, told ET.

"The report has been adopted... We have proposed a series of amendments to sharpen the bill," Sinha said, adding that the panel has worked to see the objective of ease of doing business be further enhanced. Sinha, however, declined to divulge details of the proposed changes.

Another person privy to the deliberations said no changes have been proposed to the deal value threshold of Rs2,000 crore for taking approval of the Competition Commission, though certain tweaks have been suggested to fine-tune it.

Sinha said changes have been suggested in a number of areas including to the language to avoid confusion.

The government introduced the Competition (Amendment) Bill 2022 in Lok Sabha in the Monsoon Session and it was referred to the standing committee.

[The Economic Times]