Competition Act
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Questions and Answers

What does the Competition Act, 2002 focus on regulating?

  • Commercial competition (correct)
  • Consumer rights
  • Monopolies
  • Trade practices

    • Which agreements are prohibited under Section 3 of the Competition Act?

  • Agreements causing appreciable adverse effects on competition (correct)
  • Agreements related to export-import businesses
  • Only written agreements
  • Agreements between large corporations

    • What is the implication of an agreement that violates Section 3 of the Competition Act?

  • The parties are fined heavily
  • The agreement is renegotiated
  • The agreement is deemed void (correct)
  • The parties are imprisoned

    • Which of the following may be presumed to have an appreciable adverse effect on competition?

    <p>Fixing prices</p> Signup and view all the answers

    What did the Competition Act, 2002 replace?

    <p>Monopolies and Restrictive Trade Practices Act, 1969</p> Signup and view all the answers

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