What is the purpose of the Competition Act 89 of 1998?
The Competition Act 89 of 1998 intends: to provide for the establishment of a Competition Commission responsible for the investigation, control and evaluation of restrictive practices, abuse of dominant position, and mergers; and.
When was the Competition Act passed in India?
2002
The Competition Act, 2002 was enacted by the Parliament of India and replaced The Monopolies and Restrictive Trade Practices Act, 1969. It is in effect to govern Indian competition law.
When was Competition Act passed?
Language
| Act ID: | 200312 |
|---|---|
| Act Number: | 12 |
| Enactment Date: | 2003-01-13 |
| Act Year: | 2003 |
| Short Title: | The Competition Act, 2002 |
Why the Competition Act 2000 has been passed?
It replaced the archaic The Monopolies and Restrictive Trade Practices Act, 1969. To prohibit the abuse of dominance in a market; To prohibit acquisitions, mergers, amalgamations etc. between enterprises which have or are likely to have an appreciable adverse effect on competition in market(s) in India.
Who is responsible for Competition Act?
the Competition Bureau
Administration. The administration and enforcement of the Competition Act is done by the Competition Bureau, which is also responsible for the administration and enforcement of the Consumer Packaging and Labelling Act, the Textile Labelling Act and the Precious Metals Marking Act.
What are the aims of Competition Act?
The purpose of the Competition Act of 1998 is to promote and maintain competition in South Africa to achieve the following objectives: To promote the efficiency, adaptability and development of the economy. To provide consumers with competitive prices and product choices.
What is a full form of CCI?
The Competition Commission of India (CCI) was established in March 2009 by Government of India under the Competition Act, 2002 for the administration, implementation, and enforcement of the Act.
How many members are there in Competition Commission?
6 Members
CCI consists of a Chairperson and 6 Members appointed by the Central Government. It is the duty of the Commission to eliminate practices having adverse effect on competition, promote and sustain competition, protect the interests of consumers and ensure freedom of trade in the markets of India.
What is the preamble to the Competition Act?
Preamble to the Competition Act Make the markets work for the benefit and welfare of consumers. Ensure fair and healthy competition in economic activities in the country for faster and inclusive growth and development of the economy.
Why is the Competition Act important for businesses?
1.1 The purpose of this Act is to maintain and encourage competition in Canada in order to promote the efficiency and adaptability of the Canadian economy, in order to expand opportunities for Canadian participation in world markets while at the same time recognizing the role of foreign competition in Canada, in order …
What is section 4 of Competition Act?
Section 4 in the Competition Act, 2002. (1) No enterprise shall abuse its dominant position.
When did the Competition Act come into effect?
COMPETITION ACT No. 89 of 1998 (Assented to 20 October 1998) (Commencement date: 30 November 1998) [This Act has been updated and applies as from13 February 2020, i.e. the date of commencement of further sections of the Competition Amendment Act 18 of 2018]
What is the Competition Act in South Africa?
The Amendment Act introduces a new era of competition law enforcement in South Africa, focusing on economic inclusiveness and participation by Small, Medium and Micro-sized Enterprises (SMMEs) and businesses owned or controlled by historically disadvantaged persons (HDPs).
What was the purpose of the Competition Amendment Act?
The Amendment Act seeks, among others, to address the issue of economic concentration and to drive transformation of the South African economy, as well as to strengthen the provisions of the Competition Act with respect to prohibited practices. ‘
Who are the members of the Competition Commission of India?
In accordance with the provisions of the Amendment Act, the Competition Commission of India and the Competition Appellate Tribunal have been established. The Competition Commission of India is now fully functional with a Chairperson and six members.
