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 12: Restriction on employment of Chairperson and other Members.
    1[12. Restriction on employment of Chairperson and other Members.--(1) The Chairperson and other Members shall, for a period of two years from the date on which they cease to hold office, not accept any employment in or advise as a consultant, retainer or in any other capacity whatsoever, or be connected with the management or administration of--
         (a) any enterprise which is or has been a party to a proceeding before the Commission under this Act; or
         (b) any person who appears or has appeared before the Commission under section 35.
     (2) Notwithstanding anything contained in section 35, the Chairperson or any other Member after retirement or otherwise ceasing to be in service for any reason shall not represent for any person or enterprise before the Commission:
     Provided that nothing contained in this section shall apply to any employment under the Central Government or a State Government or local authority or in any statutory authority or any corporation established by or under any Central, State or Provincial Act or a Government company as defined in clause (45) of section 2 of the Companies Act, 2013 (18 of 2013).]
    
Notes:
1. Subs. by Act 9 of 2023, s. 11, for section 12 (w.e.f. 18-5-2023).
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