(a) whether the Government propose to introduce a Competition Law Bill during the winter session of the Parliament;
(b) if so, the details thereof; and
(c) if not, the time by which the said bill is likely to be introduced?
(a) whether the Government propose to introduce a Competition Law Bill during the winter session of the Parliament;
(b) if so, the details thereof; and
(c) if not, the time by which the said bill is likely to be introduced?
THE MINISTER OF LAW, JUSTICE & COMPANY AFFAIRS AND SHIPPING (SHRI ARUN JAITLEY)
(a), (b) & (c) : The Government would like to introduce the Competition Bill in Parliament at
the earliest available opportunity. However, the Government has not given a final shape to the
Bill as yet.
The Government has, at the moment, only prepared a Draft Concept Bill on Competition
Law. A copy of the Concept Bill has been made accessible on the Internet (at www.nic.in/dca,
the web-site of the Department of Company Affairs), inviting comments from all concerned.
The Concept Bill, broadly speaking, deals with the following aspects:
1. To prohibit agreements among enterprises which cause or is likely to cause an appreciable adverse effect on competition within India.
2. To prohibit abuse of dominant position by enterprises.
3. To investigate acquisitions, mergers and amalgamations (collectively called `combinations`) of enterprises when they exceed the prescribed threshold limits so that such combinations do not result in anti-competitive situations.
4. To establish a Quasi-Judicial Body by the name, the Competition Commission of India
(CCI), to investigate and adjudicate on these matters.
5. To repeal the existing Monopolies and Restrictive Trade Practices Act, 1969 and to wind-up the MRTP Commission.
6. To transfer the pending cases before the MRTP Commission to the CCI and to the Consumer Fora established under the Consumer Protection Act, 1986.