A Chairperson and up to six Members: how the Competition Commission is built and what its Act forbids

Background

The Competition Act, 2002, as amended by the Competition (Amendment) Act, 2007, follows the philosophy of modern competition laws. The Act prohibits anti-competitive agreements and abuse of dominant position by enterprises, and regulates combinations, meaning acquisition, acquiring of control and mergers and acquisitions, which cause or are likely to cause an appreciable adverse effect on competition within India. The objectives of the Act are sought to be achieved through the Competition Commission of India, which has been established by the Central Government with effect from 14th October 2003. The Commission shall consist of a Chairperson and not less than two and not more than six other Members to be 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. The Commission is also required to give its opinion on competition issues on a reference received from a statutory authority established under any law, and to undertake competition advocacy, create public awareness and impart training on competition issues.