Q. With reference to the Competition Commission of India (CCI), consider the following statements:
1.It was established under the Competition Act, 2002 and became fully functional in 2009, replacing the Monopolies and Restrictive Trade Practices Act (MRTP), 1969..
2.The CCI performs only regulatory functions and has no adjudicatory or advisory role.
Which of the statements given above is/are correct?
Answer: A
Notes:
Explanation:
- Statement 1 is correct: The CCI was established under the Competition Act, 2002, and became operational in 2009, replacing the Monopolies and Restrictive Trade Practices Act (MRTP), 1969.
- Statement 2 is incorrect: The CCI has regulatory, adjudicatory, and advisory It acts as a quasi-judicial body, adjudicates competition-related cases, and provides opinions to statutory authorities.
Source– THE PRINT
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