On 14 November 2012 peers passed the Enterprise and Regulatory Reform Bill at second reading.
It now goes to committee stage for further scrutiny.
The bill contains a number of provisions aimed at boosting economic growth through business regulation reforms and the setting up of the UK Green Investment Bank.
It also seeks to alter employment law to discourage the use of tribunals to resolve disputes.
Under the bill, the Competition Commission and Office of Fair Trading would be merged to form the Competition and Markets Authority.
The bill has been passed by the House of Commons.