Lok Sabha on Wednesday passed The Competition (Amendment) Bill, 2022 as disruptions continued in the two Houses over opposition’s demand for a JPC on Adani issue and over disqualification of Rahul Gandhi.
While the Competition (Amendment) Bill was passed amid din without discussion, the Forest (Conservation) Amendment Bill, 2023 was introduced in the Lok Sabha. The bill was later sent to the joint committee of the two Houses after Environment Minister Bhupender Yadav moved a motion in the House. The bill seeks to further to amend the Forest (Conservation) Act, 1980. The second part of budget session has seen continuous disruptions and Lok Sabha has not functioned for more than one hour on any day.
According to PRS Legislative, which tracks work of Parliament, Rajya Sabha functioned for more than one hour on only one day when it felicitated the winners of the Academy Awards. There have been a total of 12 sittings so far.
The government moved several amendments to the Competition (Amendment) Bill. The bill seeks to amend Competition Act, 2002 and change certain definitions like “enterprise”, “relevant product market”, “group”, “control” to provide clarity.
It seeks to regulate mergers and acquisitions based on the value of transactions, broadening the scope of anti-competitive agreements and inclusion of a party facilitating an anti-competitive horizontal agreement under such agreements.
The Competition Act, 2002 was enacted in 2002, to provide for establishment of a Commission to prevent practices having adverse effect on competition, to promote and sustain competition in markets, to protect the interests of consumers and to ensure freedom of trade carried on by other participants in India.
