UCCI under the aegis of Competition Commission of India and in collaboration with the Indian Institute of Corporate Affairs (Ministry of Corporate Affairs), is organising a lecture on Competition Act 2002, for the benefit of its members on 26th March 2019.
Shri Arpit Gupta, Dy. Director(Eco), CCI will deliver lecture at proposed session on 26.03.2019 at Udaipur Chamber of Commerce and Industry.
Timing: 4 PM to 6 PM followed by High-Tea
Competition Act of 2002 impacts a range of business decisions including pricing, distribution, joint ventures, mergers, acquisitions etc.
Given the implications of Competition Act on business decisions, you may like to avail this opportunity and attend this lecture.
Objective of the Competition Act, 2002
An Act, keeping in view of the economic development of the country, was laid down to provide for an establishment of a commission with the following object:
- to prevent practices having adverse effect on competition,
- to promote and sustain competition in markets,
- to protect the interests of consumers,
- to ensure freedom of trade carried on by other participants in markets in India and for matters connected therewith or incidental thereto.
Features of Competition Act, 2002
The focus of the new law is towards the following areas affecting competition namely:
1. Prohibition of certain agreements, which are considered to be anticompetitive in nature. Such agreements [namely tie in arrangements, exclusive dealings (supply and distribution), refusal to deal and resale price maintenance] shall be presumed as anti- competitive if they cause or are likely to cause an appreciable adverse effect on competition within India.
2. Prohibition of Abuse of dominant position- If an enterprise by imposing unfair or discriminatory conditions or limiting and restricting production of goods or services or indulging in practices resulting in denial of market access or through in any other mode are prohibited.
3. Regulation of combinations which cause or are likely to cause an appreciable adverse affect on competition within the relevant market in India is also considered to be void.
4. Entrust Competition Commission of India the responsibility of undertaking competition advocacy, awareness and training about competition issues.