competition act, 2002

Page URL, Commencement, Amendments, SIs made under the Act, Tosach Feidhme, Leasuithe, IR arna ndanamh faoin Acht, Achtanna Athbhreithnithe (CAD) (An Coimisin um Athchiri an Dl), Penalties and proceedings in relation to offences under, Appeal to High Court against declaration under. (b) to give all assistance in connection with the investigation to the Director General. The Act is enforced and administered by the Competition Bureau, and cases are adjudicated by the Competition Tribunal. 26. 53O. 3. [1], The Competition Act defines a "merger" as the acquisition or establishmentwhether by purchase or lease of shares or assets, or by amalgamation, combination or otherwiseof control over or a significant interest in all or part of a business. Term of office of Chairperson and other Members. ], Copyright 2016 Chawla Publications (P) Ltd. - Home | About Us | Contact Us, Central Acts and Rules Amended and Updated. Table of Contents Introduction The Competition Act, 2002 The Act extends to the whole of India. The Competition Act, 2002 was passed by the Parliament in the year 2002, to which the President accorded assent in January, 2003. Authorizing an Advocate to accompany any person summoned by the Director General. The Competition Act, 2002 (12 of 2003) Last Updated 13th April, 2023 [act390] Issue of statement of objections by Commission and proposal of modifications. Competition Commission of India - What Is Competition Act 2002 And Why Is It Made? 10 Landmark Competition Law Case Laws | 2022 - Taxmann This article is about the Canadian law. [(1) The Monopolies and Restrictive Trade Practices Act, 1969 (54 of 1969) is hereby repealed and the Monopolies and Restrictive Trade Practices Commission established under sub-section (1) of section 5 of the said Act (hereafter referred to as the repealed Act) shall stand dissolved: [Provided that the Director General of Investigation and Registration, Additional, Joint, Deputy or Assistant Directors General of Investigation and Registration or any officer or other employee who has been, immediately before the dissolution of the Monopolies and Restrictive Trade Practices Commission appointed on deputation basis to the Monopolies and Restrictive Trade Practices Commission, shall, on such dissolution, stand reverted to his parent cadre, Ministry or Department, as the case may be: Procedure for inquiry under section 19. Competition Commission of India (Number of Additional, Joint, Deputy Or Assistant Director-General Other officers and Employees, Their Manner of Appointment, Qualification, Salary, Allowances and Other Terms and Conditions of Service) Rules, 2009, 3. 53F. 1 of 2009), CCI (Meeting for Transaction of Business) Regulations, 2009 (No 3 of 2009), CCI (General) Regulations, 2009 (No 2 of 2009), CCI (Lesser Penalty) Regulations, 2009 (No. Determination of relevant market - 'easier said than done' 3. Protections for person reporting breaches of Act. Orders of Commission on combinations. Math riddles: You can't miss these exciting math riddles today. The Tribunal could also hear references filed pursuant to section 124.2 of the Competition Act and award costs of proceedings before it. The Act establishes a Commission which is duty bound to protect the interests of free and fair competition (including the process of competition), and as a consequence, protect the interests of consumers. Trial of persons for certain offences by Central Criminal Court. India's official anti monopoly body; the Competition Commission of India (CCI) had finally become operational from May 20, 2009. Penalty for failure to comply with directions of Commission and Director General. Definitions. The Competition Act, 2002 - iPleaders Prohibition of Certain Agreements, Abuse of Dominant Position and Regulation of Combinations Prohibition of Agreements. The Competition Act, 2002. 1. Competition Commission of India, Government of India - CCI 48. (b) with the previous approval of the Commission, any other person. Study with Quizlet and memorize flashcards containing terms like object behind the enactment of the competition act 2002, definition of competition according to the World Bank 1999, prerequisite for a good competition and more. Penalties and proceedings in relation to offences under sections 6 and 7. [(1) Without prejudice to the provisions of, [and recovery of legal costs by the Commission], [(1) The Central Government may, in formulating a policy on competition (including review of laws related to competition) or on any other matter, and a State Government may, in formulating a policy on competition or on any other matter, as the case may be, make a reference to the Commission for its opinion on possible effect of such policy on competition and on the receipt of such a reference, the Commission shall, within sixty days of making such reference, give its opinion to the Central Government, or the State Government, as the case may be, which may thereafter take further action as it deems fit. Reference from statutory authority or the Central Government or a State Government. 784(E) dated 6.10.2003; (iii) No. Establishment of Commission. The Competition Appellate Tribunal (Salaries and Allowances and other terms and conditions of service of the Chairperson and other Members) Second Amendment Rules, 2009. Prohibition of abuse of dominant position, DUTIES, POWERS AND FUNCTIONS OF COMMISSION. [8] It was repealed in September 2009. Administrative powers of Chairperson. Under this legislation, the Competition Commission of India was established to prevent the activities that have an adverse effect on competition in India. Limitation on merger or acquisition being put into effect. For instance, private parties were given the right to initiate proceedings before the Competition Tribunal in certain cases. Comp-05/9/2018-Comp-MCA Dated 11.12.2018. The Competition Act, 2002 is a law that governs commercial competition in India. BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS: Permanent 13. (i) any security which entitles the holder to receive shares with voting rights; (ii) stock except where a distinction between stock and share is expressed or implied; (w) "statutory authority" means any authority, board, corporation, council, institute, university or any other body corporate, established by or under any Central, State or Provincial Act for the purposes of regulating production or supply of goods or provision of any services or markets therefor or any matter connected therewith or incidental thereto; (x) "trade" means any trade, business, industry, profession or occupation relating to the production, supply, distribution, storage or control of goods and includes the provision of any services; (y) "turnover" includes value of sale of goods or services; (z) words and expressions used but not defined in this Act and defined in [the Companies Act, 2013 (18 of 2013)] shall have the same meanings respectively assigned to them in that Act. Compliance by the parties for carrying out modification. Manner of Selection of a Panel of Names. Provided further that an information or a reference may be entertained after the period specified in the first proviso if the Commission is satisfied that there had been sufficient cause for not filing the information or the reference within such period after recording its reasons for condoning such delay. (3B) The Director General shall, on receipt of direction under sub-section (3A), investigate the matter and submit a supplementary report on his findings within such period as may be specified by the Commission. G.S.R. [39. COMPETITION ACT, 2002. The Monopolies and Restrictive Trade Practices Act, 1969 (MRTP Act) was repealed and replaced by the Competition Act, 2002, on the recommendations of the Raghavan . The Act replaces the Mergers, Takeovers and Monopolies (Control) Act, 1978, as amended, the Competition Act 1991, and the Competition (Amendment) Act 1996. Competition Commission of India (Meeting for Transaction of Business) Regulations, 2009. 59. Procedure for inquiry under section 26 of the Act. (4) Where a combination is approved by the Commission under sub-section (3), the parties to the combination shall carry out such modification within such period as may be specified by the Commission. To prevent those practices which have adverse impact on competition in the Indian markets. Competition Act 9. ], [under sub-section (1), if an enterprise or a group], [(c) "group" shall have the same meaning as assigned to it in clause (b) of the, [after any of the following, but before consummation of the combination], [(2-A) No combination shall come into effect until, [(4) Notwithstanding anything contained in sub-sections (2A) and (3) and section 43A, if a combination fulfils such criteria as may be prescribed and is not otherwise exempted under this Act from the requirement to give notice to the Commission under sub-section (2), then notice for such combination may be given to the Commission in such form and on payment of such fee as may be specified by regulations, disclosing the details of the proposed combination and thereupon a separate notice under sub-section (2) shall not be required to be given for such combination. The Competition Commission of India (Number of Additional, Joint, Deputy or Assistant Director-General other officers and employees, their manner of appointment, qualification, salary, allowances and other terms and conditions of service) Amendment Rules, 2009. (a) approval of the proposal relating to merger or amalgamation, referred to in clause (c) [and clause (d)] of section 5, by the board of directors of the enterprises concerned with such merger or amalgamation, as the case may be; (b) execution of any agreement or other document for acquisition referred to in clause (a) [and clause (d)] of section 5 or acquiring of control referred to in clause (b) of that section. SO 1171 dated 24.5.2012 (Appointment of Chairperson, COMPAT), SO 987 dated 17.4.2013 Appointment of Sh. the Competition Act, 2002 (i) production of goods or provision of services or market therefor; or, (ii) technical or scientific development relating to goods or services to the prejudice of consumers; or, (c) indulges in practice or practices resulting in denial of market access in any manner; or, (d) makes conclusion of contracts subject to acceptance by other parties of supplementary obligations which, by their nature or according to commercial usage, have no connection with the subject of such contracts; or. Procedure for deciding a case where Members of a Bench differ in opinion. Prima facie opinion on the combination. Study Notes: Anti-Competitive Agreements under Competition Act, 2002 For instance, private parties were given the right to initiate proceedings before the Competition Tribunal in certain cases. Salary and allowances and other terms and conditions of services of Chairperson and other Members. (a) directly or indirectly determines purchase or sale prices; (b) limits or controls production, supply, markets, technical development, investment or provision of services; (c) shares the market or source of production or provision of services by way of allocation of geographical area of market, or type of goods or services, or number of customers in the market or any other similar way; (d) directly or indirectly results in bid rigging or collusive bidding, shall be presumed to have an appreciable adverse effect on competition: (e) resale price maintenance, shall be an agreement in contravention of sub-section (1) if such agreement causes or is likely to cause an appreciable adverse effect on competition in India. (b) a reference made to it by the Central Government or a State Government or a statutory authority. [1], In 2002, several changes were made to the Competition Act and the Competition Tribunal Act. (A) products manufactured, processed or mined; (B) debentures, stocks and shares after allotment; (C) in relation to goods supplied, distributed or controlled in India, goods imported into India; (j) "Member" means a Member of the Commission appointed under sub-section (1) of section 8 and includes the Chairperson; (k) "notification" means a notification published in the Official Gazette; [(ka) "party" includes a consumer or an enterprise or a person or an information provider, or a consumer association or a trade association, or the Central Government or any State Government or any statutory authority, as the case may be, and shall include an enterprise or a person against whom any inquiry or proceeding is instituted; and any enterprise or person impleaded by the Commission to join the proceedings;]. [receipt of any information, in such manner and], [Provided that the Commission shall not entertain an information or a reference unless it is filed within three years from the date on which the cause of action has arisen: ], [or the State Government, as the case may be,], [Appellate Tribunal or the Supreme Court]. Inspection and certified copies of documents. Inviting experts of eminence to assist Commission. (a) "acquisition" means, directly or indirectly, acquiring or agreeing to acquire -, (i) shares, voting rights or assets of any enterprise; or. 28. The Competition Appellate Tribunal (Form and fee for filing an appeal and fee for filing compensation applications) Rules, 2009. ], [clause (c) of section 5 or acquisition of any control, shares, voting right or assets of an enterprise, merger or amalgamation referred to in clause (d) of that section], [enhance or reduce by notification, or keep at the same level, on the basis of the wholesale price index or fluctuations in exchange rate of rupee or foreign currencies, or such factors that in its opinion are relevant in this matter, the value of assets or the value of turnover or value of transaction]. [7] The Monopolies and Restrictive Trade Practices Act was intended to curb the rise of concentration of wealth in a few hands and of monopolistic practices. Selection Committee for Chairperson and Members of Commission. [19], If any person fails to comply with the orders or directions of the Commission shall be punishable with fine which may extend to 1 lakh for each day during which such non compliance occurs, subject to a maximum of 10 crore.[20]. The Competition Act, 2002 (the "Competition Act") was brought into effect in stages from 2002 to 2011. Offence in respect of breach of section 4(1) or Article 81(1) of the Treaty. Competition Act, 2002: Overview Engagement of experts and professionals. Limit or control production, supply, markets, technical development, investment or provision of services. 4. Restriction on employment of Chairperson and other Members of Appellate Tribunal in certain cases. Calling for a report from the Director General. Agreements which would be considered to have an appreciable adverse impact would be those agreements which-. The Competition Act, 2002 12. (b) enquiry to be conducted under sub-section (3) shall be for the purpose of determining the eligibility and quantum of compensation due to a person applying for the same, and not for examining afresh the findings of the Commission or the Appellate Tribunal [or the Supreme Court,] on whether any violation of the Act has taken place. Since the Competition Act 2002 has been tabled; it has not only governed competition between firms in India, but also focused on curbing monopolistic approach, abuse of dominance, and penalizing anticompetitive conduct. ], (i) the parties to the acquisition, being the acquirer and the enterprise, whose control, shares, voting rights or assets have been acquired or are being acquired jointly have,-, (A) either, in India, the assets of the value of more than rupees one thousand crores or turnover more than rupees three thousand crores; or, [(B) in India or outside India, in aggregate, the assets of the value of more than five hundred million US dollars, including at least rupees five hundred crores in India, or turnover more than fifteen hundred million US dollars, including at least rupees fifteen hundred crores in India; or], (ii) the group, to which the enterprise whose control, shares, assets or voting rights have been acquired or are being acquired, would belong after the acquisition, jointly have or would jointly have,-, (A) either in India, the assets of the value of more than rupees four thousand crores or turnover more than rupees twelve thousand crores; or, [(B) in India or outside India, in aggregate, the assets of the value of more than two billion US dollars, including at least rupees five hundred crores in India, or turnover more than six billion US dollars, including at least rupees fifteen hundred crores in India; or], (b) acquiring of control by a person over an enterprise when such person has already direct or indirect control over another enterprise engaged in production, distribution or trading of a similar or identical or substitutable goods or provision of a similar or identical or substitutable service, if-, (i) the enterprise over which control has been acquired along with the enterprise over which the acquirer already has direct or indirect control jointly have,-, (A) either in India, the assets of the value of more than rupees one thousand crores or turnover more than rupees three thousand crores; or, (B) in India or outside India, in aggregate, the assets of the value of more than five hundred million US dollars, including at least rupees five hundred crores in India, or turnover more than fifteen hundred million US dollars, including at least rupees fifteen hundred crores in India; or, (ii) the group, to which enterprise whose control have been acquired, or is being acquired, would belong after the acquisition, jointly have or would jointly have,-, (i) the enterprise remaining after merger or the enterprise created as a result of the amalgamation, as the case may be, have,-, (ii) the group, to which the enterprise remaining after the merger or the enterprise created as a result of the amalgamation, would belong after the merger or the amalgamation, as the case may be, have or would have,-. [(3) All cases pertaining to monopolistic trade practices or restrictive trade practices pending (including such cases, in which any unfair trade practice has also been alleged), before the Monopolies and Restrictive Trade Practices Commission shall, [on the commencement of the Competition (Amendment) Act, 2009], [immediately before the commencement of the Competition (Amendment) Act, 2009, shall, on such commencement], [Provided further that all the cases relating to the unfair trade practices, pending before the National Commission under this sub-section, on or before the date on which competition (Amendment) Bill, 2009 receives the assent of the President, shall, on and from that date, stand transferred to the Appellate Tribunal and he adjudicated by the Appellate Tribunal in accordance with the provisions of the repealed Act as if that Act had not been repealed.]. Provided that before passing such order, the Commission shall issue a show-cause notice indicating the contraventions alleged to have been committed and such other details as may be specified by regulations and give a reasonable opportunity of being heard to the parties concerned. [30. A 'horizontal agreement' is an agreement for co-operation between two or more competing businesses operating at the same level in the market. Relationship of Authority with foreign competition bodies. (a) "activity" includes profession or occupation; (b) "article" includes a new article and "service" includes a new service; (c) "unit" or "division", in relation to an enterprise, includes-. in the Ministry of Law and Justice. [4], The Monopolies and Restrictive Trade Practices Commission was constituted in the year 1970. To ensure freedom of trade in Indian markets. (c) the merger or amalgamation referred to in clause (c) of section 5, shall not be given effect to: (a) an agreement referred to in section 3 has been entered into outside India; or, (b) any party to such agreement is outside India; or, (c) any enterprise abusing the dominant position is outside India; or, (d) a combination has taken place outside India; or, (e) any party to combination is outside India; or, (f) any other matter or practice or action arising out of such agreement or dominant position or combination is outside India, have power to inquire [in accordance with the provisions contained in sections 19, 20, 26, [29, 29A and 30] of the Act]. Provided further that the Director General of Investigation and Registration, Additional, Joint, Deputy or Assistant Directors General of Investigation and Registration or any officer or other employee who has been, immediately before the dissolution of the Monopolies and Restrictive Trade Practices Commission employed on regular basis by the Monopolies and Restrictive Trade Practices Commission, shall become, on and from such dissolution, the officer and employee, respectively, of the Competition Commission of India or the Appellate Tribunal, in such manner as may be specified by the Central Government, with the same rights and privileges as to pension, gratuity and other like matters as would have been admissible to him if the rights in relation to such Monopolies and Restrictive Trade Practices Commission had not been transferred to, and vested in, the Competition Commission of India or the Appellate Tribunal, as the case may be, and shall continue to do so unless and until his employment in the Competition Commission of India or the Appellate Tribunal, as the case may be, is duly terminated or until his remuneration, terms and conditions of employment are duly altered by the Competition Commission of India or the Appellate Tribunal, as the case may be;], [the Competition Commission of India or the Appellate Tribunal, as the case may be,], [the Competition Commission of India or the Appellate Tribunal, as the case may be, shall, out of the monies standing], [the Competition Commission of India or the Appellate Tribunal, as the case may be, and such monies which stand so transferred shall be dealt with by the said Commission or the Tribunal, as the case may be, in such manner as may be prescribed].
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