Author: Aastha, Student at Faculty of Law, Delhi University
This legislative brief-style paper examines the Competition Amendment Bill, 2023, which was introduced on August 5, 2022, in the Lok Sabha (Lower House of the Indian Parliament) with the intention of amending several elements and officials included in the Competition Act, 2002. Acting on the recommendations of the Competition Law Review Committee, established in 2018, the bill is revolutionary and innovative in its scope and purpose and introduces a number of new provisions to better regulate the constantly changing Indian market. This legislative brief makes an effort to comprehend the technical and legislative specifics of the proposed changes. To better comprehend the implications and evaluate the significant changes made and new features added, a comparison study with the original Act of 2002 has also been carried out. Despite being novel and practical, the paper contends that the effectiveness of many of the bill’s proposals will depend on how the Competition Commission implements its regulations.