LS Passes Competition (Amendment) Bill, 2022

The Lok Sabha on Wednesday passed The Competition (Amendment) Bill, 2022 to amend the Competition Act of 2002.

Deals with a transaction value of more than Rs 2,000 crore, according to the Bill, will require the approval of the Competition Commission of India (CCI).
“…if the value of any transaction in connection with the acquisition of any control, shares, voting rights, etc., exceeds Rs 2,000 crore, it would require filing a notice of combination before the commission and to empower the Central Government to exempt certain transactions from the requirement to file combination notice under the Act,” the amendment Bill read.

It also proposed to reduce the timeline for the commission to pass an order on such transactions from 210 days to 150 days.

Also, it sought to broaden the scope of anti-competitive agreements.

Reportedly, the Bill was introduced in the Lok Sabha in August 2022, during the Monsoon Session of the Parliament, and subsequently it was referred to the Parliamentary Standing Committee on Finance for examination. (ANI)

Read More:

0 0 votes
Article Rating
Notify of
Inline Feedbacks
View all comments

We use cookies to give you the best online experience. By agreeing you accept the use of cookies in accordance with our cookie policy.

Privacy Settings saved!
Privacy Settings

When you visit any web site, it may store or retrieve information on your browser, mostly in the form of cookies. Control your personal Cookie Services here.

These cookies are essential in order to enable you to move around the website and use its features. Without these cookies basic services cannot be provided.

Cookie generated by applications based on the PHP language. This is a general purpose identifier used to maintain user session variables. It is normally a random generated number, how it is used can be specific to the site, but a good example is maintaining a logged-in status for a user between pages.

Used on sites built with Wordpress. Tests whether or not the browser has cookies enabled
  • wordpress_test_cookie

In order to use this website we use the following technically required cookies
  • wordpress_test_cookie
  • wordpress_logged_in_
  • wordpress_sec

Decline all Services
Accept all Services
Would love your thoughts, please comment.x