COMPETITION ACT 2002

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COMPETITION ACT 2002:

COMPETITION ACT 2002

CONTENT- * Introduction *Meaning * Applicability * Objective * Features * Not applicable in some cases * MRTP act * UTP *Abuse dominant position and regulation combinations . * CCI of India * Current competition act :

CONTENT - * Introduction *Meaning * Applicability * Objective * Features * Not applicable in some cases * MRTP act * UTP *Abuse dominant position and regulation combinations . * CCI of India * Current competition act

INTRODUCTION: * In light of newly emerged international economic order the provisions of MRTP act 1969 had become obsolete in certain respect. *In 1999 ,Govt. of India appointed a committee on “competition policy and law . * This act is enforced on 13 January ,2003. *This act is replaced the monopolies & RTP act 1969. *competition act has set up CCI and its taken over MRTP commission . :

INTRODUCTION: * In light of newly emerged international economic order the provisions of MRTP act 1969 had become obsolete in certain respect. *In 1999 ,Govt. of India appointed a committee on “competition policy and law . * This act is enforced on 13 January ,2003. *This act is replaced the monopolies & RTP act 1969. *competition act has set up CCI and its taken over MRTP commission .

MEANING:(a) "acquisition" means, directly or indirectly, acquiring or agreeing to acquire—(i) shares, voting rights or assets of any enterprise; or (ii) control over management or control over assets of any enterprise. (b) "agreement" includes any arrangement or understanding or action in concert,— (i) whether or not, such arrangement, understanding or action is formal or in writing; :

MEANING:( a) "acquisition" means, directly or indirectly, acquiring or agreeing to acquire—( i ) shares, voting rights or assets of any enterprise; or (ii) control over management or control over assets of any enterprise. (b) "agreement" includes any arrangement or understanding or action in concert,— ( i ) whether or not, such arrangement, understanding or action is formal or in writing;

APPLICABILITY: This act extends to whole of India except the state of Jammu and Kashmir. OBJECTIVE: 1) To prevent practices having adverse effect on competition. 2)To promote competition in the market. 3)To protect the interest of consumers. 4) To prevent abuse of dominant position in the markets. 5) To ensure freedom of trade in Indian markets. :

APPLICABILITY: This act extends to whole of India except the state of Jammu and Kashmir. OBJECTIVE: 1) To prevent practices having adverse effect on competition. 2)To promote competition in the market. 3)To protect the interest of consumers. 4) To prevent abuse of dominant position in the markets. 5) To ensure freedom of trade in Indian markets.

FEATURES : 1) CCI has been constituted under is act . 2)Govt. has appointed director general + for detailed investigation of anti competitive agreement and assisting CCI. 3)It is flexible and its provision can be change according to needs. 4) It has replaced MRTP act. 5) This act has penalty provisions. NOT APPLICABLE IN FOLLOWING CASES: 1)public financial institutions. 2)banks 3)foreign institutional investors. :

FEATURES : 1) CCI has been constituted under is act . 2)Govt. has appointed director general + for detailed investigation of anti competitive agreement and assisting CCI. 3)It is flexible and its provision can be change according to needs. 4) It has replaced MRTP act. 5) This act has penalty provisions. NOT APPLICABLE IN FOLLOWING CASES: 1)public financial institutions. 2)banks 3)foreign institutional investors.

ABUSE OF DOMINANT POSITION AND REGULATION OF COMBINATION: 1) ANTI-COMPETITIVE AGREEMENTS: All agreements which have adverse effect in competition in India are declared as void. ANTI COMPETITIVE AGREEMENT MAY INCLUDE THE FOLLOWING: 1) directly or indirectly determines purchase or sale price. 2) limits or control production, supply ,investment etc. 3)manipulates the process of bidding. :

ABUSE OF DOMINANT POSITION AND REGULATION OF COMBINATION: 1) ANTI-COMPETITIVE AGREEMENTS: All agreements which have adverse effect in competition in India are declared as void. ANTI COMPETITIVE AGREEMENT MAY INCLUDE THE FOLLOWING: 1) directly or indirectly determines purchase or sale price. 2) limits or control production, supply ,investment etc. 3)manipulates the process of bidding.

2) ABUSE OF DOMINANT POSITION: dominant position means the position of strength enjoyed by and enterprise in the relevant market in India which enable it to(A) operate independent or consumer of competitive forces (b) Affects its competitors or consumer in its favor. There shall be abuse of dominant position if an enterprise: 1) impose unfair condition on purchase or sale of goods or service . 2) Limits or restricts production ,technical development . 3) REGULATION OF COMBINATION: combination include acquisitions ,merger or amalgamations. 1)any acquisitions, merger or amalgamation which result is combined assts of more than rs 1000 cr. Or combined turnover of more than rs 3000 cr. in India.:

2) ABUSE OF DOMINANT POSITION: dominant position means the position of strength enjoyed by and enterprise in the relevant market in India which enable it to(A) operate independent or consumer of competitive forces (b) Affects its competitors or consumer in its favor. There shall be abuse of dominant position if an enterprise: 1) impose unfair condition on purchase or sale of goods or service . 2) Limits or restricts production ,technical development . 3) REGULATION OF COMBINATION: combination include acquisitions ,merger or amalgamations. 1)any acquisitions, merger or amalgamation which result is combined assts of more than rs 1000 cr. Or combined turnover of more than rs 3000 cr. in India.

Introduction MRTP: concentration of economic power means control of economic power in form of capital income, employment and means of production by few individual or groups. * MRTP act in to force from ist June 1970. it applies to whole of India except the state of j & k. OBJECTIVE: 1) controlling monopolistic trade practices. 2) regulating Restrictive and UTP. :

Introduction MRTP: concentration of economic power means control of economic power in form of capital income, employment and means of production by few individual or groups. * MRTP act in to force from ist June 1970. it applies to whole of India except the state of j & k. OBJECTIVE: 1) controlling monopolistic trade practices. 2) regulating Restrictive and UTP.

Main provision of the MRTP act: (1)Concentration of economic power to be prevented . (2)Monopolistic trade practices. (3) Restrictive trade practice. UNFAIR TRADE PRACTICE: section 36 A of the MRTP act 1969 states UTP is a trade practice which for the purpose of promoting the sale ,use or supply of any good. 1) falsely representing that goods and service are of a particular standard quality ,grade or model 2)falsely representing second hand renovated goods as new goods. 3) giving misleading advertisement . :

Main provision of the MRTP act: (1)Concentration of economic power to be prevented . (2)Monopolistic trade practices. (3) Restrictive trade practice. UNFAIR TRADE PRACTICE : section 36 A of the MRTP act 1969 states UTP is a trade practice which for the purpose of promoting the sale ,use or supply of any good. 1) falsely representing that goods and service are of a particular standard quality ,grade or model 2)falsely representing second hand renovated goods as new goods. 3) giving misleading advertisement .

COMPETITION POLICY: It includes reforms in certain policy to make these more pro-competition: 1)Industry policy 2)Trade policy 3)Privatization policy :

COMPETITION POLICY: It includes reforms in certain policy to make these more pro-competition: 1)Industry policy 2)Trade policy 3)Privatization policy

CCI(COMPETITION COMMISSION OF INDIA): the competition act has set up a statutory body named CCI. It has taken over MRTP . Complaints lodged with MRTP were also handed over to CCI for settlement STRUCTURE & WORKING OF CCI : 1) Members 2)Appointment of Director general 3)duties of CCI 4)power & function of CCI 5) Appeal. 6) Penalties. :

CCI(COMPETITION COMMISSION OF INDIA): the competition act has set up a statutory body named CCI. It has taken over MRTP . Complaints lodged with MRTP were also handed over to CCI for settlement STRUCTURE & WORKING OF CCI : 1) Members 2)Appointment of Director general 3)duties of CCI 4)power & function of CCI 5) Appeal. 6 ) Penalties.

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