Date:15/03/2007 URL: http://www.thehindubusinessline.com/2007/03/15/stories/2007031504651000.htm

Back `Bill to amend Competition Law soon'

Our Bureau

THE COMPANY AFFAIRS Minister, Mr Prem Chand Gupta (right), and the Chairman, Advisory Committee on Market Studies, Dr Vijay Kelkar, at the National Conference on State of Competition in the Indian Economy on Wednesday. The Government is planning to bring a Bill to amend the Competition Law in the second half of the Budget Session and Cabinet nod for it will be sought soon, Mr Gupta said. — R.V. Moorthy

New Delhi March 14 The Government plans to bring a Bill to amend the Competition Law during the second half of the ongoing Budget session of Parliament, the Minister for Company Affairs, Mr Prem Chand Gupta, said on Wednesday. "We plan to take the Bill to amend the Competition Law to the Cabinet next week after which it would be taken to Parliament," the Minister said after inaugurating a conference on `State of competition in the Indian economy.'

The Minister said that the Standing Committee on Finance had already submitted its recommendation on the proposed amendments, some of which have been accepted after the inter-Ministerial consultations.

Among the recommendations accepted, one relates to the formation of an Appellate Tribunal, which would hear appeals against the orders of the Competition Commission.

The Standing Committee has also said that the tribunal be headed by a retired Supreme Court judge and have two more technical members with a legal background.