Act Number: 12

Act Name: The Competition Act, 2002

Year: 2003

Enactment Date: 2003-01-13

Long Title: 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 thereto.

Ministry: Ministry of Corporate Affairs

Department:

Section 43A: Power to impose penalty for non-furnishing of information on combinations.
    1[43A. Power to impose penalty for non-furnishing of information on combinations.--If any person or enterprise who fails to give notice to the Commission under sub-section (2) of section 6, the Commission shall impose on such person or enterprise a penalty which may extend to one percent, of the total turnover or the assets, whichever is higher, of such a combination.]
Notes:
1. Ins. by Act 39 of 2007, s. 37 (w.e.f. 1-6-2011)
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