THE COMPETITION ACT, 2002

No. 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 thereto.

BE it enacted by Parliament in the Fifty-third Year of the Republic of India as follows:—

Chapter I

Preliminary

Short title, extent and commencement

• 1. (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 provision.

Definitions

• 2. 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;

• (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;

• [(ba)“Appellate Tribunal” means the Competition Appellate Tribunal established under sub-section (1) of Section 53A”]

• (c) “cartel” includes an association of producers, sellers, distributors, traders or service providers who, by agreement amongst themselves, limit, control or attempt to control the production, distribution, sale or price of, or, trade in goods or provision of services;

• (d) “Chairperson” means the Chairperson of the Commission appointed under sub-section (1) of section 8;

• (e) “Commission” means the Competition Commission of India established under sub-section(1) of section 7;