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 49: Competition advocacy.
    1[(1) The Central Government may, in formulating a policy on competition (including review of laws related to competition) or any other matter, and a State Government may, in formulating a policy on competition or on any other matter, as the case may be, make a reference to the Commission for its opinion on possible effect of such policy on competition and on the receipt of such a reference, the Commission shall, within sixty days of making such reference, give its opinion to the Central Government, or the State Government, as the case may be, which may thereafter take further action as it deems fit.]
     (2) The opinion given by the Commission under sub-section (1) shall not be binding upon the Central Government 2[or the State Government, as the case may be,] in formulating such policy.
     (3) The Commission shall take suitable measures 3*** for the promotion of competition advocacy, creating awareness and imparting training about competition issues.
Notes:
1. Subs. by Act 39 of 2007, s. 40, for sub-section (1) (w.e.f. 12-10-2007).
2. Ins. by s. 40, ibid. (w.e.f. 12-10-2007).
3. The words ", as may be prescribed," omitted by s. 40, ibid. (w.e.f. 12-10-2007).
Previous Section Next Section
Scroll to Top