10 Questions
What is the maximum number of members in the Competition Commission of India?
Six
What happens if a combination causes an appreciable adverse effect on competition within the relevant market in India?
The combination is void
What is the responsibility of the Competition Commission of India under the Competition Act 2002?
To provide advice to the Indian government on matters related to economic competition and to raise public awareness of the problem
What is the primary objective of the Competition Act 2002?
To protect the interests of customers from anti-competitive behaviour
What replaced the old MRTP Act?
The Competition Act 2002
What is the objective of the Competition Commission of India?
To establish the optimum conditions for economic competition
What is the purpose of the Competition Act 2002 with respect to market competition?
To maintain and encourage market competition
What is the role of the Competition Commission of India in case of contract violations?
To enter into contracts and bring legal action against violators
What is the main objective of the Competition Act 2002 with respect to consumer rights?
To defend consumer rights
What is the purpose of the Competition Act 2002 with respect to trade of other market players?
To ensure the freedom of trade of other market players
Test your knowledge of the Competition Act 2002, a legislation that governs Indian competition law and aims to promote fair competition in India. This quiz covers the basics of the act, its implementation, and the role of the Competition Commission of India. Brush up on your understanding of this critical law and its impact on the Indian economy.
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