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Competition Act 2002

Competition Act 2002

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Categories:Types, Business/Law
Published by: LEX-57 the lex engine on Nov 21, 2010
Copyright:Attribution Non-commercial

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01/31/2012

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THECOMPETITION ACT,
2002
No. 12
OF
2003as amended by
The Competition (Amendment) Act, 2007
2007
 
THE COMPETITION ACT, 2002
1
No. 12 OF 2003
[13th January, 2003.] An Act to provide, keeping in view of the economic development of the country, for theestablishment of a Commission to prevent practices having adverse effect oncompetition, 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.BE it enacted by Parliament in the Fifty-third Year of the Republic of India as follows:—
CHAPTER IPRELIMINARYShort title, extent and commencement1.
(
1
) This Act may be called the Competition Act, 2002.(
2
) It extends to the whole of India except the State of Jammu and Kashmir.(
3
) It shall come into force on such date as the Central Government may, bynotification in the Official Gazette, appoint:Provided that different dates may be appointed for different provisions of this Actand any reference in any such provision to the commencement of this Act shallbe construed as a reference to the coming into force of that provision.
Definitions2.
In this Act, unless the context otherwise requires,—(a) "acquisition" means, directly or indirectly, acquiring or agreeing toacquire—(i) shares, voting rights or assets of any enterprise; or (ii) control over management or control over assets of any enterprise;
1
The following Act of Parliament received the assent of the President on the 13th January, 2003
1

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