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Start Free TrialSecuritisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 Section 1
Title: Short Title, Extent and Commencement
State: Central
Year: 2002
(1) This Act may be called the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. (2) It extends to the whole of India. (3) It shall be deemed to have come into force on the 21st day of June, 2002.
View Complete Act List Judgments citing this sectionCompetition Act, 2002 Section 18
Title: Duties of Commission
State: Central
Year: 2002
1[Subject to the provisions of this Act, it shall be 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 carried on by other participants, in markets in India: Provided that the Commission may, for the purpose of discharging its duties or performing its functions under this Act, enter into any memorandum or arrangement with the prior approval of the Central Government, with any agency of any foreign country.] ___________________________________________ 1. Effective date :20th May 2009- notified vide Ministry of Corporate Affairs Notification No S.O.1241(E) dated 15.05.2009.
View Complete Act List Judgments citing this sectionCompetition Act, 2002 Section 53E
Title: Selection Committee
State: Central
Year: 2002
1[53E. Selection Committee.-- (1) The Chairperson and Members of the Appellate Tribunal shall be appointed by the Central Government from a panel of names recommended by a Selection Committee consisting of-- (a) the Chief Justice of India or his nominee..........Chairperson; (b) the Secretary in the Ministry of Corporate Affairs..........Member; (c) the Secretary in the Ministry of Law and Justice..........Member. (2) The term of the Selection Committee and the manner of selection of panel of names shall be such as may be prescribed.] _________________________________ 1. Inserted by the Competition (Amendment) Act, 2007 [Act No 39 of 2007] w.e.f. 20.12.2007.
View Complete Act List Judgments citing this sectionCompetition Act, 2002 Section 53D
Title: Qualifications for Appointment of Chairperson and Members of Appellate Tribunal
State: Central
Year: 2002
1[53D. Qualifications for appointment of Chairperson and Members of Appellate Tribunal.-- (1) The Chairperson of the Appellate Tribunal shall be a person, who is, or has been a Judge of the Supreme Court or the Chief Justice of a High Court. (2) A Member of the Appellate Tribunal shall be a person of ability, integrity and standing having special knowledge of, and professional experience of not less than twenty-five years in, competition matters, including competition law and policy, international trade, economics, business, commerce, law, finance, accountancy, management, industry, public affairs, administration or in any other matter which in the opinion of the Central Government, may be useful to the Appellate Tribunal.] _________________________________ 1. Inserted by the Competition (Amendment) Act, 2007 [Act No 39 of 2007] w.e.f. 20.12.2007.
View Complete Act List Judgments citing this sectionCompetition Act, 2002 Section 53C
Title: Composition of Appellate Tribunal
State: Central
Year: 2002
1[53C. Composition of Appellate Tribunal.-- The Appellate Tribunal shall consist of a Chairperson and not more than two other Members to be appointed by the Central Government.] _________________________________ 1. Inserted by the Competition (Amendment) Act, 2007 [Act No 39 of 2007] w.e.f. 20.12.2007.
View Complete Act List Judgments citing this sectionCompetition Act, 2002 Section 50
Title: Grants by Central Government
State: Central
Year: 2002
1 50. Grants by Central Government. The Central Government may, afterdue appropriation made by Parliament by law in this behalf, make to theCommission grants of such sums of money as the Government may think fit forbeing utilised for the purposes of this Act. ____________________________ 1. Effective from 19.06.2003 by Notification No. SO 715(E) Dated 19.06.2003.
View Complete Act List Judgments citing this sectionCompetition Act, 2002 Section 47
Title: Crediting Sums Realised by Way of Penalties to Consolidated Fund of India
State: Central
Year: 2002
1[All sums realised by way of penalties under this Act shall be credited to the Consolidated Fund of India.] _________________________ 1. Effective date:20th May 2009- notified vide Ministry of Corporate Affairs Notification No S.O.1241(E) dated 15.05.2009.
View Complete Act List Judgments citing this sectionCompetition Act, 2002 Section 44
Title: Penalty for Making False Statement or Omission to Furnish Material Information
State: Central
Year: 2002
If any person, being a party to a combination,-- (a) makes a statement which is false in any material particular, or knowing it to be false; or (b) omits to state any material particular knowing it to be material, such person shall be liable to a penalty which shall not be less than rupees fifty lakhs but which may extend to rupees one crore, as may be determined by the Commission.
View Complete Act List Judgments citing this sectionCompetition Act, 2002 Section 17
Title: Appointment of Secretary, Experts Professionals and Officers and Other Employees and Other Employees of Commission
State: Central
Year: 2002
.....ability, who have special knowledge of, and experience in, economics, law, business or such other disciplines related to competition, as it deems necessary to assist the Commission in the discharge of its functions under this Act.] ________________________ 1. Effective from 31.03.2003 by Notification No. 340 (E) Dated 31.03.2003 2. Substituted by the Competition (Amendment) Act, 2007 [Act No. 39 of 2007] w.e.f. 12.10.2007. Prior to substitution it read as: "1 17. Registrar and officers and other employees of Commission.-- (1) The Commission may appoint a Registrar and such officers and other employees as it considers necessary for the efficient performance of its functions under this Act. (2) The salaries and allowances payable to and other terms and conditions of service of the Registrar and officers and other employees of the Commission and the number of such officers and other employees shall be such as may be prescribed."
View Complete Act List Judgments citing this sectionCompetition Act, 2002 Section 53G
Title: Terms and Conditions of Service of Chairperson and Members of Appellate Tribunal
State: Central
Year: 2002
1[53G. Terms and conditions of service of Chairperson and Members of Appellate Tribunal.-- (1) The salaries and allowances and other terms and conditions of service of the Chairperson and other Members of the Appellate Tribunal shall be such as may be prescribed. (2) The salaries, allowances and other terms and conditions of service of the Chairperson and other Members of the Appellate Tribunal shall not be varied to their disadvantage after their appointment.] _________________________________ 1. Inserted by the Competition (Amendment) Act, 2007 [Act No 39 of 2007] w.e.f. 20.12.2007.
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