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Pretty Bhalla, Lovely Professional University Unit 5: The Competition Act, 2002

Unit 5: The Competition Act, 2002 Notes

CONTENTS

Objectives
Introduction
5.1 Defi nitions
5.2 Prohibition of Anti-competitive Agreements
5.3 Prohibition of abuse of Dominant Position

5.4 Regulation of Combinations (Secs. 5 and 6)
5.5 Competition Commission of India
5.6 Enquiry into certain Agreements and Dominant Position of Enterprise and
Combinations
5.7 Miscellaneous Provisions
5.8 Finance, Accounts and Audit
5.9 Summary
5.10 Keywords

5.11 Self Assessment
5.12 Review Questions
5.13 Further Readings

Objectives

After studying this unit, you will be able to:

Discuss various term related to Competition Act
Explain prohibition of anti-competitive agreements
State miscellaneous provisions
Describe competition commission of India

Introduction

In the earlier unit, you came to know about the information technology Act . In this unit, you will
study about the Competition Act, 2002.
The Competition Act, 2002 extends to the whole of India except the State of Jammu and Kashmir.
It shall come into force on such date as the Central Government may, by notification in the

Official Gazette, appoint. It received the assent of the President of India on 13 January, 2003.
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The Preamble to the Act reads that it is an Act to provide, keeping in view of the economic
development of the country, (i) for the establishment of a Commission to prevent practices having
adverse effect on competition, (ii) to promote and sustain competition in markets, (iii) to protect
the interests of consumers and (iv) to ensure freedom of trade carried on by other participants in
markets, in India, and for matters connected therewith or incidental thereto.

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