Following are some salient features of mrtp act, 1969. The information technology act, 2000 or ita, 2000 or it act, was notified on october 17, 2000. Biodiversity act 2002 and convention on bd authorstream. Salient features of the governments small scale industrial policy of 1991. The competition act, 2002 was amended by the competition amendment act, 2007 and again by the competition amendment act, 2009. Two of the main features of the competition act, 2002 is the framework it provides for the establishment of the competition commission, and.
Salient features of mrtp act difference between mrtp act and the competition. Under this legislation, the competition commission of india was established to prevent the activities that have an adverse effect on competition in india. The competition act, 2002 was enacted by the parliament of india and governs indian. The competition act, 2002 12 of 2003 contents sections page chapter i preliminary 1. In this article, let us focus on the salient features of the representation of peoples act. Definitions 1 chapter ii prohibition of certain agreements, abuse of dominant position and regulation of combinations prohibition of agreements 3. The competition act of 2002 was passed by the parliament of india so as to form a commission to oversee the business operations of companies and individuals in the country following fair practices of competition and economic growth of the country.
Aug 24, 2011 but its scope was very narrow and govt. Salient features of the representation of peoples act clear ias. It was subsequently amended by the competition amendment act, 2007. Act with some major objectives to deliver and facilitate lawful electronic, digital, and online transactions, and mitigate cybercrimes. Prevent practices having adverse effects on competition, advertisements. Prevent practices having adverse effects on competition. The evolution of monopolistic and restrictive practices act,1969. An act to make provision about competition and the abuse of a dominant position in the market. What are the salient features of consumer protection act. The draft competition law was drafted and presented to the government in november 2000. Introduction of the act was a key step in indias march towards facing competition both from within the country and from international players. Competition act, 2002, section 18 irish statute book. Aspirants can also download the companies act 20 notes pdf from the link provided in the end of the article. Salient features of the information technology amendment.
Relevance and applicability of competition act 2002 for indian railways notes taken from talk delivered by sh g. The us act, the sherman act, 1890 which prescribes agreements in restraint of trade, appears to be. The new mrtp act was greatly influenced by its foreign counterparts such as sherman act and clayton act of usa, the mrtp inquiry and control act, 1948 and the resale prices act, 1964 of the uk, etc. The act is not intended to prohibit competition in the market.
Salient features covering essentials of competition components of competition act competition commission of india offences and penalties direct tax and indirect tax. Business law pdf book free download mba books business law pdf book free download. The competition act, 2003 provides for the setting up of a competition commission of india cci with a view to. The protection of plant varieties and farmers rights act, passed by the government of india in 2001, is a sui generis system for.
Mrtp act was enacted to deal with monopolistic, restrictive and unfair trade practices, but due to certain limitations, competition act was introduced, which changed the focus from curbing monopolies to promoting competition. Mar 26, 2018 the companies act 20 is an act of the parliament of india which got the approval of the president on 29th august, 20. Emergence and applicability of competition act, 2002 in. Pmla and the rules notified there under came into force with effect from july 1, 2005. Companies act 20 salient features of the indian companies.
On jan 2003 the president of india gave his assent. Pmla defines money laundering offence and provides for the freezing, seizure and confiscation of the proceeds of crime. View competition act, 2002 from mba 101 at sophia girls college. Salient features of competition act q2 free download as word doc. The electronic irish statute book eisb comprises the acts of the oireachtas parliament, statutory instruments, legislation directory, constitution and a limited number of pre1922 acts.
The communication deals with ecommerce in the backdrop of information technology act, 2000. The pattern of the law in line with prevailing pattern of modern competition laws, the act seeks to 1. Mrtp act repealed and is replaced by the competition act, 2002. 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. Goods are manufactured by the manufacturer and consumer buys them from manufacturer or seller.
Monopolies and restrictive trade practices mrtp act, 1969 was revoked and replaced by competition act, 2002. Nov 17, 2009 explanation of competition act 2002 competition act 2002 states that indian traders must not do any activity for promoting monopoly. The competition act, 2002 competition commission of india. On the place of mrtp act 1969 after this mrtp act 1969 was fully repealed. Curtail abuse of dominance, iii promote and sustain competition in market, iii. Therefore, india has begun to bring into force the provisions of its. Pdf the protection of plant varieties and farmers rights. This revised act is an administrative consolidation of the competition act 2002. It replaced the archaic the monopolies and restrictive trade practices act, 1969. It is the law that deals with cybercrime and electronic commerce in india. The securitisation and reconstruction of financial assets and enforcement of security interest act, 2002 also known as the sarfaesi act is an indian law. Competition act, 2002 competition commission of india. Competition act, 2002 main features anticompetitive practices, section. Section 3 of competition act deals with anticompetitive agreements both horizontal and vertical.
Features of competition act, 2002 the focus of the new. Overview of competition act, 2002 amity university. Difference between mrtp act and competition act with. Overview of competition law provisions of competition act, 2002 a presentation.
The competition act, 2002 was enacted by the parliament of india and governs indian competition law. This act seeks to make offences related to foreign exchange civil offences. Mar 15, 2016 competition refers to a situation in a market place in which firms entities or sellers independently strive for the patronage of buyers in order to achieve a particular business objective, such as profits, sales, market share etc. Explanation of competition act 2002 competition act 2002 states that indian traders must not do any activity for promoting monopoly. No person shall enter such a combination which may cause or is likely to cause appreciable adverse effect on the competition within the relevant market in india and all such combination shall be deemed void under the provisions of the competition act 2002. Business law pdf book free download mba books askvenkat books. Some of these state level enactments have been widely used. Mar 24, 2017 monopolies and restrictive trade practices mrtp act, 1969 was revoked and replaced by competition act, 2002. It means competition commission of india established us 71 of the act definitions section 2. Generally, an ebook can be downloaded in five minutes or less.
R bhatia, former additional director general of competition commission of india it is inherent in the nature of the human being to compete for betterment and. Competition act 2002 part1 legal aspects of business. Explain the salient features of competition act, 2002 bms. Here at askvenkat we are providing mba books links for free. Main provisions of competition act 2002 business education. Apr 25, 2019 for downloading notes in pdf format please visit my digital store for more videos of ob in english visit this link s. The prevention of moneylaundering act 2002 book pdf is free and available for everyone to download as a pdf. Jul 23, 20 explain the salient features of competition act, 2002 home explain the salient features of competition act, 2002 whatsapp us 7029742 email protected.
The competition act, 2002 was enacted to repeal the mrtp act. Any person aggrieved by an order of the commission from which an appeal is allowed by this act but no appeal has been preferred, may, within thirty days from the date of the order, apply to the commission for. Salient features of competition act q2 competition law. Main features of the foreign exchange management act fema. Explain the meaning, relevance and features of the. Prevention of money laundering act, 2002 is an act of the parliament of india enacted by the nda government to prevent moneylaundering and to provide for confiscation of property derived from moneylaundering. Business law was one of the important subject and also an important book for mba students. Abridged prospectus is a shorter version of the prospectus and contains all the salient features of a prospectus. Anticompetitive agreements 5 prohibition of abuse of dominant.
The protection of plant varieties and farmers rights act. We provide services in cyber crime investigation,ethical hacking,hacking coarse, consultation,online security, it laws, case studies, cyber safety tips, and articles, hacking tips and tricks,hacking tutorials,submit your complaint,complaint,cyber crime complaint, salient features of the information technology amendment act, 2008. The competition act 2002 this article explains the prohibition of certain agreements under the competition act, prohibition of abuse of dominant position, etc. Repealed by the competition amendment act, 2007, sec. 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, and for matters connected therewith or incidental. Ca kamal garg objectives of the act to provide for establishment of a commission to prevent practices having adverse effect on. The companies act 20 is an act of the parliament of india which got the approval of the president on 29th august, 20. The information technology act, 2000 also known as ita2000, or. The provisions relating to abuse of dominant position require determination of dominance in the.
Mrtp act repealed and is replaced by the competition act, 2002, with effect from september 1, 2009. Sep 11, 2019 this topic is part of the salient features of representation of peoples act of general studies paper which is important for both prelims and mains point of view. Consumer awareness in the field on competition law is a. The prevention of moneylaundering act 2002 book pdf. A need was felt to promote competition and private enterprise especially in the light of 1991 indian economic liberalisation the competition act, 2002, as amended by the competition amendment act, 2007, follows the philosophy of modern competition laws. The prevention of money laundering act, 2002 pmla forms the core of the legal framework put in place by india to combat money laundering.
Competition act, 2002 1 competitio n act 2002 wednesday. The broad objectives of the competition act, as laid down in its preamble, are. Objectives of competition act 2002 competition act 2002 notified in jan 2003 for establishment of a commission. On december 16, 2002, the lok sabha passed a bill to replace the mrtp monopolies and restrictive trade practices act, 1969 which was enacted to curb the tendency to create monopoly in commerce, trade and industry. In this article, you can read the salient features of the companies act 20 and its comparison with the older companies act 1956, for the ias exam. The ministry of corporate affairs, government of india has issued a notification dated 28 th august 2009, whereby the most controversial the monopolies and restrictive trade practices act, 1969 the mrtp act stands repealed and is replaced by the competition act, 2002, with effect from. Government of india passed the competition act in the year 2002. History there was no effective competition law regulation before independence. Relevance and applicability of competition act 2002 for. If they will do any activity in the form of production, distribution, price fixation for increasing monopoly and this will be against this act and will be void. Pmla prevention of money laundering act 2002 and amendment. Section 4 in the competition act, 2002 indian kanoon.
Fundamentally the competition act, 2002 is a law that addresses antitrust issues. In exercise of this power, the parliament has enacted laws like representation of the people act 1950 rpa act 1950, representation of the people act 1951 rpa act 1951 and delimitation commission act of 1952. The us act, the sherman act, 1890 which prescribes agreements in restraint of trade, appears to be the earliest antitrust statute in the world. The foreign exchange management act fema was an act passed in the winter session of parliament in 1999, which replaced foreign exchange regulation act.
It replaces monopolies and restrictive trade practices act 1969. 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, and for matters. In this article we have provided all the reference books, authors and topics and contents about the book the prevention of moneylaundering act 2002. Essay on the competition act, 2002 economics discussion. Pdf notes on competition act ajay r kamath academia. Mrtp act monopolistic and restrictive trade practice. Overview of competition law provisions of competition.
Competition commission of indiacci is advocacy for competition act 2002. Here in the article, we have discussed important features of rpa 1950 and 1951 along with the important amendments made so far. The idea of competition commission was conceived and introduced in the form of the competition act, 2002 by the vajpayee government. As discussed in the first chapter, the government of india enacted the information technology i. Sep 02, 2015 the competition act, 2002 was enacted to repeal the mrtp act. After some refinements, following extensive consultations and discussions with all interested parties, the parliament passed in december 2002 the new law, namely, the competition act, 2002. The salient features of competition act 2002 answers. Competition law in india jurisprudential trends and the way forward. This report discusses the legislative history of the competition act and analyzes salient jurispruden. Competition act, 2002, section 14 irish statute book. It allows banks and other financial institution to auction residential or commercial properties to recover loans. Company law makes rules for ensuring the responsibilities of directors.
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