Vidhi Codex

THE COMPETITION ACT, 2002

The Competition Act, 2002

Corporate200282 sections9 chapters

The Competition Act, 2002 regulates commercial business practices in India to promote fair market competition and protect consumers. It applies to enterprises and individuals engaged in any economic activity. The Act prohibits anti-competitive agreements, such as cartels that fix prices or manipulate bids, and prevents businesses from abusing their dominant market positions to block competitors. Additionally, it regulates large mergers, acquisitions, and amalgamations to ensure they do not harm market competition. By enforcing these rules, the law aims to establish market freedom, prevent monopolies, encourage economic efficiency, and secure affordable products and services for consumers.

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Chapter I PRELIMINARY →

  1. 1Short title, extent and commencement
  2. 2Definitions

Chapter II PROHIBITION OF CERTAIN AGREEMENTS, ABUSE OF DOMINANT POSITION AND REGULATION OF →

  1. 3Anti-competitive agreements
  2. 4Abuse of dominant position
  3. 5Combination
  4. 6Regulation of combinations
  5. 6AOpen offers, etc.

Chapter III COMPETITION COMMISSION OF INDIA →

  1. 7Establishment of Commission
  2. 8Composition of Commission
  3. 9Selection Committee for Chairperson and Members of Commission
  4. 10Term of office of Chairperson and other Members
  5. 11Resignation, removal and suspension of Chairperson and other Members
  6. 12Restriction on employment of Chairperson and other Members
  7. 13Administrative powers of Chairperson
  8. 14Salary and allowances and other terms and conditions of service of Chairperson and other Members
  9. 15Vacancy, etc., not to invalidate proceedings of Commission
  10. 16Appointment of Director General, etc.
  11. 17Appointment of Secretary, experts, professionals and officers and other employees of Commission

Chapter IV DUTIES, POWERS AND FUNCTIONS OF COMMISSION →

  1. 18Duties and functions of Commission
  2. 19Inquiry into certain agreements and dominant position of enterprise
  3. 20Inquiry into combination by Commission
  4. 21Reference by statutory authority
  5. 21AReference by Commission
  6. 22Meetings of Commission
  7. 26Procedure for inquiry under section 19
  8. 27Orders by Commission after inquiry into agreements or abuse of dominant position
  9. 28Division of enterprise enjoying dominant position
  10. 29Procedure for investigation of combinations
  11. 29AIssue of statement of objections by Commission and proposal of modifications
  12. 30Procedure in case of notice under sub-section (2) of section 6
  13. 31Orders of Commission on combinations
  14. 32Acts taking place outside India but having an effect on competition in India
  15. 33Power to issue interim orders
  16. 35Appearance before Commission
  17. 36Power of Commission to regulate its own procedure
  18. 38Rectification of orders
  19. 39Execution of orders of Commission imposing monetary penalty

Chapter V DUTIES OF DIRECTOR GENERAL →

  1. 41Director General to investigate contraventions

Chapter VI PENALTIES →

  1. 42Contravention of orders of Commission
  2. 42ACompensation in case of contravention of orders of Commission
  3. 43Penalty for failure to comply with directions of Commission and Director General
  4. 43APower to impose penalty for non-furnishing of information on combination
  5. 44Penalty for making false statement or omission to furnish material information
  6. 45Penalty for contraventions in relation to furnishing of information
  7. 46Power to impose lesser penalty
  8. 47Crediting sums realised by way of penalties to Consolidated Fund of India
  9. 48Contravention by companies
  10. 48ASettlement
  11. 48BCommitment
  12. 48CRevocation of the settlement or commitment order and penalty

Chapter VII COMPETITION ADVOCACY →

  1. 49Competition advocacy

Chapter VIII FINANCE, ACCOUNTS AND AUDIT →

  1. 50Grants by Central Government
  2. 51Constitution of Fund
  3. 52Accounts and audit
  4. 53Furnishing of returns, etc., to Central Government
  5. 53AAppellate Tribunal
  6. 53BAppeal to Appellate Tribunal
  7. 53DQualifications for appointment of Chairperson and Members of Appellate Tribunal
  8. 53GTerms and conditions of service of Chairperson and Members of Appellate Tribunal
  9. 53LRestriction on employment of Chairperson and other Members of Appellate Tribunal in certain cases
  10. 53NAwarding compensation
  11. 53PExecution of orders of Appellate Tribunal
  12. 53QContravention of orders of Appellate Tribunal
  13. 53TAppeal to Supreme Court
  14. 53UPower to Punish for contempt

Chapter IX MISCELLANEOUS →

  1. 54Power to exempt
  2. 55Power of Central Government to issue directions
  3. 56Power of Central Government to supersede Commission
  4. 57Restriction on disclosure of information
  5. 58Chairperson, Members, Director General, Secretary, officers and other employees, etc., to be public servants
  6. 59Protection of action taken in good faith
  7. 59ACompounding of certain offences
  8. 60Act to have overriding effect
  9. 61Exclusion of jurisdiction of civil courts
  10. 62Application of other laws not barred
  11. 63Power to make rules
  12. 64Power to make regulations
  13. 64AProcess of issuing regulations
  14. 64BCommission to issue guidelines
  15. 65Power to remove difficulties
  16. 66Repeal and saving

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