(a) whether the Government has decided to review the Competition Act;
(b) if so, the details of deficiencies found in the existing Competition Act in view of changing business environment;
(c) whether the Government has constituted a Committee in this regard; and
(d) if so, the Terms of Reference given to the Committee and the time by which the Committee is likely to submit its report?
THE MINISTER OF STATE FOR LAW AND (SHRI P.P. CHOUDHARY)
JUSTICE AND CORPORATE AFFAIRS
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(a) to (d): The Government vide office order dated 1st October, 2018 constituted a Competition Law Review Committee under the chairmanship of Secretary, Corporate Affairs. The terms of reference of the committee are:-
i) To review the Competition Act/Rules/Regulations, in view of changing business environment and bring necessary changes, if required;
ii) To look into international best practices in the competition fields, especially anti-trust laws, merger guidelines and handling cross border competition issues;
iii) To study other regulatory regimes/institutional mechanisms/ government policies which overlap with the Competition Act;
iv) Any other matters related to competition issue and considered necessary by the Committee.
The Committee is required to submit its report within three months of the date of its first meeting.
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