The bill was introduced in Parliament last year
A bill to amend the Competition Act was introduced in Parliament on August 5 last year and was later referred to the Parliamentary Standing Committee on Finance. The committee submitted its report on December 13 last year and the ministry will now come out with an amendment bill keeping in view the various recommendations of the committee.
Expected to come in the budget session
The bill to amend the competition law is expected to come up in the budget session of Parliament, the official said. The proposals of the Bill, introduced in August last year, include the introduction of a ‘settlement and commitment framework to reduce litigation’ and incentives in the form of lower fines for disclosure of other tie-ups by concerned parties in the ongoing cartelisation probe. The budget session of Parliament will begin on January 31 with the address of President Draupadi Murmu.
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