The Competition (Amendment) Bill, 2022 (Bill)1 was tabled before Lok Sabha, the lower house of the Indian Parliament on 5 August 2022. The Bill, which intends to introduce some wide-ranging changes to the Competition Act, 2002 (Competition Act), was sent to the Joint Parliamentary Standing Committee on Finance (Committee), seeking a report within 3 months.
After extensive consultations with various stakeholders, the Committee presented its report before both the houses of the Parliament on 13 December 2022. By way of its recommendations, the Report has suggested various meaningful suggestions to the Bill in an effort to create a balance between industry expectations and global best practices.
Set out below are some of the noteworthy changes proposed by the Committee, along with our take on them.
Download >> Standing Committee Report Recommends Sweeping Changes To The Indian Competition (Amendment) Bill, 2022
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