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 8: Composition of Commission.
    1[8. Composition of Commission.--(1) The Commission shall consist of a Chairperson and not less than two and not more than six other Members to be appointed by the Central Government.
     (2) The Chairperson and every other Member shall be a person of ability, integrity and standing and who has special knowledge of, and such professional experience of not less than fifteen years in, international trade, economics, business, commerce, law, finance, accountancy, management, industry 2[technology,] public affairs or competition matters, including competition law and policy, which in the opinion of the Central Government, may be useful to the Commission.
     (3) The Chairperson and other Members shall be whole-time Members.]
Notes:
1. Subs. by Act 39 of 2007, s. 6, for section 8 (w.e.f. 12-10-2007).
2. Ins. by Act 9 of 2023, s. 9 (w.e.f. 18-5-2023).
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