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Polity & Governance
Mahesh

19/03/22 10:32 AM IST

The Competition (Amendment) Bill, 2022

In news 

  • The  Competition (Amendment) Bill, 2022 has been introduced that aims to improve regulatory set-up by increasing the CCI’s accountability, giving it flexibility and enforcement efficiency.
Key changes 

  • A board with part-time members to supervise CCI activities.
  • This would bring its regulatory architecture at par with that of financial regulators.
  • CCI to mandatorily issue penalty guidelines and give reasons in case of any divergence.
  • It will give much-needed certainty in regulatory environment.
  • CCI could engage in structured negotiations with parties and arrive at mutually-workable solutions without having to go through lengthy formal proceedings.
  • This will bring powers of CCI on par with Sebi, which has been passing settlement orders for over a decade.
  • Previously CCI was only empowered to take action for abuse of dominance or anti-competitive agreements in the form of final orders in proceedings before it.
  • CCI can make appeals to the National Company Law Appellate Tribunal conditional on a pre-deposit of up to 25% of the penalty imposed by the CCI.
  • Shortening of the merger review period from 210 to 150 days.
About CCI 

  • It is  a statutory body of the Government of India, responsible for enforcing the Competition Act, 2002 throughout India and to prevent activities that have an adverse effect on competition.
Source- Livemint 

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