What type of body is CCI?
statutory body
Notes: The Competition Commission of India (CCI) is a statutory body established by the Government of India. The Commission is responsible for enforcing the Competition Act, 2002 throughout the India union.
Which type of body is the Competition Commission of India CCI?
What is the Competition Commission of India? It is a statutory body established under the Competition Act, 2002, tasked with ensuring a fair and healthy competition in economic activities of the country.
Who appointed the Competition Commission of India?
the Central Government
CCI consists of a Chairperson and 6 Members appointed by the Central Government. It is the duty of the Commission to eliminate practices having adverse effect on competition, promote and sustain competition, protect the interests of consumers and ensure freedom of trade in the markets of India.
What are the powers and functions of the Competition Commission of India?
Section 18 of the Act which is in consonance with the preamble of the Act, casts an obligation on the CCI to ‘eliminate’ anti-competitive practices and promote competition, interests of the consumers and free trade. The exercise of power under Section 18 is subject to other provisions of the Act.
Why was Mrtp replaced?
But after the New economic reforms, liberalization, privatization, and globalization it was necessary that there must be competition in the market for the survival of the fittest. Therefore, the MRTP Act 1969 was replaced by Competition Act in year 2002.
What is leniency petition?
Leniency programme is available for those enterprises / individuals who disclose to the Commission their role in a cartel and cooperate with subsequent investigations, are rewarded by a reduction of or complete amnesty from penalty. Leniency programs are universally accepted as being the best way to combat cartels.
What is full name CCI?
Competition Commission Of India. The Competition Commission of India (CCI) was established in March 2009 by Government of India under the Competition Act, 2002 for the administration, implementation, and enforcement of the Act.
When was Competition Act 2002 commenced?
31 March 2003
| The Competition Act, 2002 | |
|---|---|
| Enacted by | Parliament of India |
| Assented to | 13 January 2003 |
| Commenced | 31 March 2003 |
| Introduced by | Arun Jaitley |
Who can be chairman of CCI?
Ashok Kumar GuptaCompetition Commission of India / Chairperson
Is CCI a statutory body?
Competition Commission of India (CCI) is an important statutory body.
Who is the chairman of CCI?
When was Competition Act passed?
2003-01-13
Language
| Act ID: | 200312 |
|---|---|
| Act Number: | 12 |
| Enactment Date: | 2003-01-13 |
| Act Year: | 2003 |
| Short Title: | The Competition Act, 2002 |
What is the role of the Competition Commission of India?
The Competition Commission of India (CCI) is a statutory body of the Government of India which has been made responsible to enforce the Competition Act, 2002 in India. It also aims to prevent all unfair trade activities that have an adverse effect on competition in India. Why was the CCI formed?
How many members are there in the Central Competition Commission?
The CCI is composed of as Chairperson and 6 members, these members are appointed by the Central Government. The CCI acts as a market regulator to check on the ill competitive practices in India. The headquarters of this commission is currently in New Delhi.
What is the Competition Appellate Tribunal?
The Competition Appellate Tribunal was formed in 2009 and is a fully empowered body by the Constitution of India. The final appeal after this tribunal can be made in the Supreme Court of India.