Competition Act 2002 summary
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The document provides an overview of the Competition Act of 2002 in India. It defines key terms related to competition like agreement, cartel, enterprise, and anti-competitive agreements. The Competition Act was established to prevent anti-competitive practices in order to promote fair competition in markets for economic development and consumer welfare. It extends to all of India except Jammu and Kashmir.
![Competition Act - Business Law Competition Act, 2002 [AS AMENDED BY COMPETITION (AMENDMENT) ACT, 2007] 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 It 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 Competition Act, 2002.](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
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Competition Act 2002 summary
- 1. THE COMPETION ACT , 2002 A Mini Project submitted in the fulfillment of the requirement of the internal assessment. Subject: - MBN 509: BUSINESS LAW By Senthil Nathan . D Shagana . E Srinivasan . S Vijayalaxmi . T Yuvaraj . S SRM B-SCHOOL SRM University – Vadapalani September - 2010
- 2. Competition Act - Business Law Competition Act, 2002 [AS AMENDED BY COMPETITION (AMENDMENT) ACT, 2007] 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 It 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 Competition Act, 2002.
- 9. debentures, stocks and shares after allotment
- 10. in relation to goods supplied in India or imported in India.“ Notification”-means a notification published in the Official Gazette Definitions - “ turnover” includes value of sale of goods or services “ trade” means any trade, business, industry, profession relating to the production, supply, distribution, storage of goods and provision of services “ practice” includes any practice relating to the carrying on of any trade by a person or an enterprise; “ prescribed” means prescribed by rules made under this Act “ price” in relation to the sale of any goods or to the performance of any services, includes every valuable consideration Definitions.