THE COMPETITION ACT, 2002 (12 OF 2003) …

1 ITHE COMPETITION ACT, 2002(12 OF 2003) CONTENTSS ections PageCHAPTER IPRELIMINARY1. Short titles, extent and commencement 12. Definitions 1 CHAPTER IIPROHIBITION OF CERTAIN AGREEMENTS, ABUSE OFDOMINANT POSITION AND REGULATION OF COMBINATIONSP rohibition of agreements3. Anti-competitive agreements 5 Prohibition of abuse of dominant position4. Abuse of dominant position 7 Regulation of combinations5. Combination 86. Regulation of combinations 10 CHAPTER IIICOMPETITION commission OF INDIA7. Establishment of commission 128.

2 Composition of commission 129. Selection Committee for Chairperson and Members of commission 1310. Term of office of Chairperson and other Members 1311. Resignation, removal and suspension of Chairperson 14 and other members12. Restriction on employment of Chairperson and other 14 Members in certain cases13. Administrative powers of Chairperson 1514. Salary and allowances and other terms and conditions of 15 service of Chairperson and other Members15. Vacancy, etc. not to invalidate proceedings of commission 1516. Appointment of Director General, etc. 16ii17. Appointment of Secretary, experts, professionals and 17 officers and other employees of CommissionCHAPTER IVDUTIES, POWERS AND FUNCTIONS OF COMMISSION18.

3 Duties of commission 1819. Inquiry into certain agreements and dominant position of enterprise 1820. Inquiry into combination by commission 2021. Reference by statutory authority 2121A. Reference by commission 2222. Meetings of commission 2223. [Omitted by the COMPETITION (Amendment) Act, 2007] 2324. [Omitted by the COMPETITION (Amendment) Act, 2007] 2325. [Omitted by the COMPETITION (Amendment) Act, 2007] 2326. Procedure for inquiry under section 19 2427. Orders by commission after inquiry onto agreements or abuse of 25 dominant position28. Division of enterprise enjoying dominant position 2729.

4 Procedure for investigation of combinations 2730. Procedure in case of notice under sub-section (2) of section 6 2831. Orders of commission on certain combinations 2932. Acts taking place outside india but having an effect on 30 COMPETITION in India33. Power to issue interim orders 3134. [Omitted by the COMPETITION (Amendment) Act, 2007] 3235. Appearance before commission 3236. Power of commission to regulate its own procedure 3337. [Omitted by the COMPETITION (Amendment) Act, 2007] 3438. Rectification of orders 3539. Execution of orders of commission imposing monetary penalty 3540.

5 [Omitted by the COMPETITION (Amendment) Act, 2007] 36 CHAPTER VDUTIES OF DIRECTOR GENERAL41 Director General to investigate contraventions 37iiiCHAPTER VIPENALTIES42. Contravention of orders of commission 3842A. Compensation in case of contravention of orders of commission 3843. Penalty for failure to comply with directions of commission 39 and Director General43A. Power to impose penalty for non-furnishing of information 39 on combinations44. Penalty for making false statement or omission to furnish 39 material information45. Penalty for offence in relation to furnishing of information 4046.

6 Power to impose lesser penalty 4047. Crediting sums realised by way of penalties to Consolidated 41 Fund of India48. Contravention by companies 41 CHAPTER VIICOMPETITION ADVOCACY49. COMPETITION advocacy 42 CHAPTER VIIIFINANCE, ACCOUNTS AND AUDIT50. Grants by Central Government 4351. Constitution of Fund 4352. Accounts and Audit 4353. Furnishing of returns, etc. to Central Government 44 CHAPTER VIIIAAPPELLATE TRIBUNAL53A. Appellate Tribunal 4553B. Appeal to Appellate Tribunal 45 Omitted by the Finance Act, 2017, 26th May, 2017 4653N. Awarding compensation 4653O. Procedure and powers of Appellate Tribunal 4753P.

7 Execution of orders of Appellate Tribunal 4853Q. Contravention of orders of Appellate Tribunal 4853S. Right to legal representation 48iv53T. Appeal to Supreme Court 4953U. Power to Punish for contempt 49 CHAPTER IXMISCELLANEOUS54. Power to exempt 5055. Power of Central Government to issue directions 5056. Power of Central government to supersede commission 5057. Restriction on disclosure of information 5158. Chairperson, Members, Director General, Secretary, 52 officers and other employees, etc., to be public Protection of action taken in good faith 5260. Act to have overriding effect 5261.

8 Exclusion of jurisdiction of civil courts 5262. Application of other laws not barred 5363. Power to make rules 5364. Power to make regulations 5565. Power to remove difficulties 5666. Repeal and saving 56(1)THE COMPETITION ACT, 20021No. 12 OF 2003[13th January, 2003.]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 it enacted by Parliament in the Fifty-third Year of the Republic of india as follows: CHAPTER IPRELIMINARYS hort title, extent and commencement1.

9 (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, by notification in the Official Gazette, appoint:Provided that different dates may be appointed for different provisions of this Act and any reference in any such provision to the commencement of this Act shall be construed as a reference to the coming into force of that In this Act, unless the context otherwise requires, (a) acquisition means, directly or indirectly, acquiring or agreeing to acquire (i) shares, voting rights or assets of any enterprise; or (ii) control over management or control over assets of any enterprise.

10 (b) agreement includes any arrangement or understanding or action in concert, (i) whether or not, such arrangement, understanding or action is formal or in writing; or (ii) whether or not such arrangement, understanding or action is intended to be enforceable by legal proceedings;2[substituted by the finance act, 2017, 26th May, 2017. Prior to its substitution, clause (ba), as inserted by the COMPETITION (Amendment) Act, 2007, 12-10 -2007 read as under: (ba) Appellate Tribunal means the National Company Law Appellate Tribunal referred to in sub-section (1) of section 53A;]1 The following Act of Parliament received the assent of the President on the 13th January, 20032 Substituted by the Finance Act, 2017, 26th May 2017.