COMPETITION ACT 2002 BARE ACT PDF
THE COMPETITION ACT, (12 OF ). CONTENTS. Sections. Page. CHAPTER I. PRELIMINARY. 1. Short titles, extent and commencement. 1. 2. (2) This Act may be called the Competition Act, Short title, extent and (e) " Commission" means the Competition Commission of India established under. Prohibition of Certain Agreements, Abuse of Dominant Position and Regulation of Combinations Prohibition of Agreements. Anti-competitive agreements. Competition Commission of India.
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Words in long title substituted () by The Competition Act Act: power to modify conferred () by Enterprise Act (c. An Act to make provision about competition and the abuse of a . , s. (2 )]. PART II. COMPETITION AND CONSUMER COMMISSION. Act Info: Preamble1 - THE COMPETITION ACT, Chapter 1. Section1 - Short title extent and commencement. Section2 - Definitions. Chapter 2. Section3.
Abuse of dominant position. Section10 - Term of office of Chairperson and other Members.
Section11 - Resignation, removal and suspension of Chairperson and other Members. Section12 - Restriction on employment of Chairperson and other Members in certain cases. Section13 - Administrative powers of Chairpersons. Section14 - Salary and allowances and other terms and conditions of service of Chairperson and other Members.
Section15 - Vacancy, etc.
Section16 - Appointment of Director-General, etc. Section17 - Appointment of Secretary, experts professionals and officers and other employees and other employees of Commission. Section19 - Inquiry into certain agreements and dominant position of enterprise. Section20 - Inquiry into combination by Commission.
Section23 - Distribution of business of Commission amongst Benches [Omitted]. Section24 - Procedure for deciding a case where Members of a Bench differ in opinion [Omitted]. Section26 - Procedure for inquiry on complaints under section Section27 - Orders by Commission after inquiry into agreements or abuse of dominant position.
Section28 - Division of enterprise enjoying dominant position. Section29 - Procedure for investigation of combinations.
Section30 - Procedure in case of notice under sub-section 2 of section 6. Section31 - Orders of Commission on certain combinations. Section32 - Acts taking place outside India but having an effect on competition in India.
Section34 - Power to award compensation [Omitted]. Section36 - Power of Commission to regulate its own procedure.
Section37 - Review of orders of Commission [Omitted]. Section39 - Execution of order of Commission imposing monetary penalty. Section41 - Director-General to investigate contraventions.
The Competition Act, 2002
Section42 - Contravention of orders of Commission. With the introduction of this amendment any number of markers can apply for leniency application and openly come forward without having the fear of not being in first three markers list.
Also this amendment can help CCI to bust cartels in future. But now the scope of filing the leniency application is extended to individuals as well. The individuals who are involved in cartels can come forward and file for grant of leniency in their penalty.
With the introduction of the amendment, the parties has the right to obtain copies of non- confidential document or evidence only after the Director General has investigated and the CCI has forwarded the report to the Director General. If the Director General is of the opinion that disclosure is necessary for the investigation then with the approval of the CCI the information or evidence or documents can be disclosed even if the applicant does not give a waiver.
In such cases reason for disclosure of the information must be given in writing by the Director General to CCI. Therefore the applicant should be well advanced in the collection of evidence and information to meet the deadline. Conclusion Cartel formation is one of the most harmful anti-competitive agreements which cause damage to market in many ways.
It can force community, consumers, businesses and even government to pay higher prices for goods and service and the consumers may also face scarcity of goods. Cartels also distort economic markets and leads to slow innovations.
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Therefore for the development of any economy it is very important for a country to fight cartels. According to me, Competition Commission of India has taken a very good step by amending the Lesser Penalty Regulation, Prior to the amendment, Cartels cases was not coming forward that easily and effectively as the persons and enterprises had several fears.
Most common fear was there was no whistle blow protection for all the applicants. After the amendment CCI has granted four orders in less than two years. Ltd in a case involving a hard- core cartel in respect of zinc carbon dry batteries in India.
This will not only remove formation of cartels in near future but also give benefits to the society at large that is there will be no exploitation of customers and economy of the country will also take a good shape.The Act is designed to regulate the operation and activities of combinations, a term, which contemplates acquisition, mergers or amalgamations.
There was no written agreement and only an understanding and it constitutes a cartel agreement. However, the opinion given by the Commission is not binding on the Central Government. The nature of product being almost homogenous in nature facilitates oligopolistic pricing.
Act No. Section4 - Prohibition of abuse of dominant position:
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