Which of the following are objectives of the Competition Act, 2002 A. To prevent practices having an adverse effect on competition B. To impede and torment competition in the market C. To protect the interests of sellers D. To ensure freedom of trade carried on by other participants in markets Choose the correct answer from the options given below:?

A, B and C only
B, C and D only
A, B and D only
A and D only

LohaHridoy

6 views

2025-01-04 04:42

1 Answers

AhmedNazir

Option 4 : A and D only

The correct answer is A and D only

Competition Act, 2002:

In order to increase their earnings or market share, vendors compete with one another to win the patronage of consumers.
The Monopolies and Restrictive Trade Practices Act, 1969 was repealed by the Competition Act, 2002, which was passed by the Indian Parliament.
It currently controls Indian competition law.
The Act aims to provide the necessary legal framework and instruments to assure compliance with competition regulations, to stop anti-competitive behaviour, and to sanction such behaviour.

Objectives of the Competition Act:

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.

6 views Answered 2022-09-04 04:29

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