Nsalient features of competition act 2002 pdf files

Main provisions of competition act 2002 business education. The broad objectives of the competition act, as laid down in its preamble, are. It replaced the archaic the monopolies and restrictive trade practices act, 1969. Article 811 prohibits agreements affecting trade between member states.

The preamble states that this is an act to establish a commission to prevent anticompetitive practices, promote and sustain competition, protect the interests of the consumers and ensure freedom of trade in markets in india. Salient features of competition act q2 competition law. Section 42 in the competition act, 2002 2 there shall be an abuse of dominant position under subsection 1, if an enterprise, a directly or indirectly, imposes unfair or discriminatory. Curtail abuse of dominance, iii promote and sustain competition in market, iii. Curtail abuse of dominance, iii promote and sustain competition in. Stringent action is inevitable need to infuse competition in markets is imperative. Overview of competition law provisions of competition. The competition law, 2002 and its development factors. Some of the sections of the act were brought into force on march 31, 2003 and majority of the other sections on july 19, 2003. On december 16, 2002, the lok sabha passed a bill to replace the mrtp monopolies and restrictive trade practices act, 1969 which was enacted to curb the tendency to create monopoly in commerce, trade and industry. Mrtp act, was enacted to deal with monopolistic, restrictive and unfair trade practices, but due to certain. The competition act, 2002 was enacted by the parliament of india and governs indian. Under this legislation, the competition commission of india was established to prevent the activities that have an adverse effect on competition in india.

Be it enacted by parliament in the fiftyeighth year of the republic of india as follows. Enterprises, persons or associations of enterprises or persons, including cartels, shall not enter into agreements in respect of production, supply, distribution, storage, acquisition or control of goods or provision of services, which cause or are likely to cause an appreciable adverse impact on competition in india. The us act, the sherman act, 1890 which prescribes agreements in restraint of trade, appears to be the earliest antitrust statute in the world. The competition act, 2002 which passed on th january, 2003 is a laudable step towards harmonizing international trade policy. The object of the competition act, 2002 act for short is to preserve and promote competition and to prevent anti competitive business practices with minimal government intervention. Repealed by the competition amendment act, 2007, sec. Fundamentally the competition act, 2002 is a law that addresses antitrust issues. The competition act, 2002 12 of 2003 contents sections page chapter i preliminary 1. The indian aviation sector being an oligopoly market has tendency of collusion amongst its players thereby proving detrimental to the consumers and social welfare at large. The competition act the competition act, number 89 of 1998, as amended the.

Procedure for deciding a case where members of a bench differ in opinion. Act anay be called the competition act, 2010 2 it extends to the whole of pakistan 3 it shall apply to all undertakings and all actions or matters that take place in pakistan and distort compel iaon. The competition act provides for the prevention of anti competitive agreements, abuse of dominant position and combinations. Issue commission for examination of witness or documents e. If the members of a bench differ in opinion on any point, they shall state the point or points on which they differ, and make a. Explanation of competition act 2002 competition act 2002 states that indian traders must not do any activity for promoting monopoly. Relevance and applicability of competition act 2002 for indian railways notes taken from talk delivered by sh g. Salient features of combination regulation, 2011 issued by. This act applies to the whole of republic of india except for jammu and kashmir. Competition advocacy section 49 the central government or state government may in formulating a policy on competition or in any other matter, make a reference to the commission for its opinion on the possible effect of such policy on competition. Relevance and applicability of competition act 2002 for. Emergence and applicability of competition act, 2002 in.

In 2002, the parliament of india enacted the competition act, replacing the. Introduction of the act was a key step in indias march towards facing competition both from within the country and from international players. Essay on the competition act, 2002 economics discussion. Indias competition law 3 competition act, 2002 competition act, 2002 indias antitrust law is embodied in the competition act, 2002 amended by the competition amendment act, 2007 and became fully operational from 1 june 2011 when the provisions regulating mergers and acquisitions were notified. Students taking ca final exams or students preparing for corporate and allied laws will find the file very useful. The concept prejudicial to public interest is unclear, bald, vague and ambiguous. The competition act, 2002 was enacted by the parliament of india and governs indian competition law.

Appointment of secretary, experts, professionals and officers and other employees of. Definitions 1 chapter ii prohibition of certain agreements, abuse of dominant position and regulation of combinations prohibition of agreements 3. Conceptual relationship between the fundamental rights of. The competition act of 2002 was passed by the parliament of india so as to form a commission to oversee the business operations of companies and individuals in the country following fair practices of competition and economic growth of the country. It was subsequently amended by the competition amendment act, 2007. Section 3 of competition act deals with anticompetitive agreements both horizontal and vertical. Prevent practices having adverse effects on competition, advertisements. A read is counted each time someone views a publication summary such as the title, abstract, and list of authors, clicks on a figure, or views or downloads the fulltext.

The competition amendment bill, 2007 a bill to amend the competition act, 2002. Any person aggrieved by any decision or order of the commission may file an appeal to the supreme. Difference between mrtp act and competition act with. The salient features of competition act 2002 answers. Monopolies and restrictive trade practices mrtp act, 1969 was revoked and replaced by competition act, 2002. Knowing the difference between mrtp act and competition act, will help you understand the provisions relating to trade practices in a better way. R bhatia, former additional director general of competition commission of india it is inherent in the nature of the human being to compete for betterment and improvement. Ofcoms powers under part 4 of the enterprise act 2002. The competition act, 2002 was enacted to repeal the mrtp act. The competition amendment bill, 2006 a bill to amend the competition act, 2002. After some refinements, following extensive consultations and discussions with all interested parties, the parliament passed in december 2002 the new law, namely, the competition act, 2002. Under the competition act, the whole agreement is void in case it is found to have anticompetitive covenant having appreciable adverse effect on competition in the market. Competition commission of india cci has on 11 may 2011 issued the. No one likes competition markets are infected with anti competitive practices and abusive conducts.

Comparative features of mrtp act 1969 and competition act 2002. Features of competition act, 2002 the focus of the new. The act has fundamentally reformed south africas competition regulation regime and has created new competition authorities with significant powers. Abridged prospectus is a shorter version of the prospectus and contains all the salient features of a prospectus. The commission shall, within 60 days of making such reference, give its opinion to the cgsg. Overview of competition law provisions of competition act, 2002 a presentation. The competition act 2002 prohibits vertical and horizontal agreements that have an appreciable adverse effect on the competition. The act is not intended to prohibit competition in the market. Pdf notes on competition act ajay r kamath academia. Salient features of competition act q2 free download as word doc. Provided that different dates may be appointed for different provisions of this act.

The competition act, 2003 provides for the setting up of a competition commission of india cci with a view to. Act to provide for the establishment of a competition commission responsible for the investigation, control and evaluation of restrictive practices, abuse of dominant position, and mergers. India has chosen to enact a new competition law called the competition act, 2002. The university of oxford centre for competition law and policy. Dmpq what are the sailent features of the competition act. The competition act, 2002 came into existence in january, 2003 and the competition commission of india cci was established on 14 october, 2003. Notice under section 1551 of the enterprise act 2002. An act to provide, keeping in view of the economic development of the country, for the 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 markets, in india. The pattern of the law in line with prevailing pattern of modern competition laws, the act seeks to 1. Introduction of ca final corporate allied laws chart competition act 2002. An act to provide for free competition in all spheres. Competition act, 2002 competition commission of india.

Various dimensions of the indian competition act, 2002. Why you should be concerned about the competition act. Competition act, 2002 was a key step towards india facing. Ca final corporate allied laws chart competition act 2002 is available for download at the excellent download file is in the format of pdf. Ca final corporate allied laws chart competition act 2002. On the place of mrtp act 1969 after this mrtp act 1969 was fully repealed. The draft competition law was drafted and presented to the government in november 2000. Government of india passed the competition act in the year 2002. The competition act has been designed as an omnibus code to deal with matters relating to the existence and. Explain the salient features of competition act, 2002. The competition act, 2002 received assent of the president of india on january, 2003 and was published in the gazette of india dated january 14, 2003.