An act to give, keeping taking into account the financial advancement of the country, for the establishment of a Commission to prevent practices having an adverse effect on competition
, to secure the interests of purchasers, and to guarantee the opportunity of exchange carried on by different members in markets, in …
What are the powers and functions of the commissioner?
- Monitoring and enforcing the legislation.
- Promoting public awareness and understanding of the risks, rules and safeguards and rights in relation to processing of personal data.
- Promoting awareness of controllers and processors of their obligations under the legislation.
What are the powers of Central Government under Competition Act 2002?
The Competition Commission of India
has the power to regulate its own procedures
. The Competition Commission of India has the power to impose monetary penalties upon violation of The Competition Act,2002.
What is the jurisdiction of CCI?
of the law from curbing monopolies to promoting competition and to suggest a modern competition law in line with international developments to suit
Indian conditions
. in January, 2003. Competition Act 2002 provides for establishment of a Commission to prevent practices having adverse effect on competition etc.
What is the function of CCI?
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.
Who can appear before CCI?
Q. 25 WHO CAN REPRESENT THE PARTIES BEFORE THE COMMISSION? A person or an enterprise may either appear
in person or through any of its officers
or authorize one or more chartered accountants or company secretaries or cost accountants or legal practitioners to represent his or its case before the Commission.
What is CCI approval?
The Competition Act is the principal legislation that regulates combinations (acquisitions, mergers, amalgamations and de-mergers) in India. CCI approval is
required for combinations where the parties involved exceed the assets/turnover thresholds set out in section 5 of
the Competition Act.
What are the powers of commissioner?
where the order is sought to be revised by the Commissioner of his own motion, if such order is made more than one year previously. an order by the Commissioner declining to interfere shall be deemed not to be an order prejudicial to the assessee.
What are the powers of commissions?
- Summoning and enforcing the attendance of any person from any part of India and examining him on oath.
- Requiring the discovery and production of any document.
- Receiving evidence on affidavits.
- Requisitioning of any public record or copy thereof from any court of office.
What is the salary of commissioner?
| Percentile Salary Location | 10th Percentile Commissioner Salary $62,337 US | 25th Percentile Commissioner Salary $72,927 US | 50th Percentile Commissioner Salary $84,558 US | 75th Percentile Commissioner Salary $114,483 US |
|---|
Who is the person according to Competition Act 2002?
Moving forward, we come to Section 2(l) of the Act which provides with the definition of the person. A person includes:
Any artificial juridical person, local authority or any cooperative society
.
Any corporate body that gets incorporated under or by the laws of a country other than India
.
What are the objectives of the Competition Act, 2002?
- to provide the framework for the establishment of the Competition Commission.
- to prevent monopolies and to promote competition in the market.
- to protect the freedom of trade for the participating individuals and entities in the market.
What are the features of Competition Act 2002?
- Anti-Competitive Agreements. …
- Types of agreement. …
- Abuse of dominant position. …
- Combinations. …
- Competition Commission of India. …
- Review of orders of Commission. …
- Appeal. …
- Penalty.
Is CCI a judicial body?
The CCI is not a Judicial Body
The Supreme Court of India (SC) through numerous decisions over the years, including the recent decision in Rojer Mathew, has established that any tribunal performing judicial functions by replacing a court of law must be judicially dominant.
Which is called a vertical agreement?
A vertical agreement is a term used in competition law to
denote agreements between firms operating at different levels of the production/distribution chain
(e.g. relations between manufacturers and their customers/distributors).
Which section governs the extraterritorial jurisdiction of CCI?
Section 32 of
the Act provides CCI with the power to inquire and pass orders against entities established beyond the territorial boundaries but causing an AAEC in India.
