Bare Act Search Results

Competition Act, 2002 Complete Act

State: Central

Year: 2002

.....or market therefor; or (ii) technical or scientific development relating to goods or services to the prejudice of consumers; or (c) indulges in practice or practices resulting in denial of market access; or (d) makes conclusion of contracts subject to acceptance by other parties of supplementary obligations which, by their nature or according to commercial usage, have no connection with the subject of such contracts; or (e) uses its dominant position in one relevant market to enter into, or protect, other relevant market. Explanation.-For the purposes of this section, the expression - (a) "dominant position" means a position of strength, enjoyed by an enterprise, in the relevant market, in India, which enables it to- (i) operate independently of competitive forces prevailing in the relevant market; or (ii) affect its competitors or consumers or the relevant market in its favour; (b) "predatory price" means the sale of goods or provision of services, at a price which is below the cost, as may be determined by regulations, or production of the goods or provision of services, with a view to reduce competition or eliminate the competitors. SECTION 05: COMBINATION. -The.....

Finance Act, 2002 Complete Act

State: Central

Year: 2002

.....Be it enacted by Parliament in the Fifty-third Year of the Republic of India as follows :- SECTION 01: SHORT TITLE AND COMMENCEMENT -(1) This Act may be called the Finance Act, 2002. (2) Save as otherwise provided in this Act, Sections 2-to116-shall be deemed to have come into force on the 1st day of April, 2002. SECTION 02: INCOME TAX (1) Subject to the provisions of sub-sections (2) and (3), for the assessment year commencing on the 1st day of April, 2002, income tax shall be charged at the rates specified in Part I of the First Schedule and such tax as reduced by the rebate of income tax calculated under Chapter VIII-A of the Income Tax Act, 1961(43 of 1961) (hereinafter referred to as the Income Tax Act) shall be increased by a surcharge for purposes of the Union calculated in each case in the manner provided therein. (2) In the cases to which Paragraph A of Part I of the First Schedule applies, where the assessee has, in the previous year, any net agricultural income exceeding five thousand rupees, in addition to total income, and the total income exceeds fifty thousand rupees, then,- (a) the net agricultural income shall be taken into account, in the manner provided.....

Competition Act, 2002 Chapter 4

Title: Duties, Powers and Functions of Commission

State: Central

Year: 2002

..... (f) classification of industrial products.] ___________________________________________ 1. Substituted by the Competition (Amendment) Act, 2007 [Act No. 39 of 2007] for the words "receipt of a complaint,". 2. Effective date :20th May 2009- notified vide Ministry of Corporate Affairs Notification No S.O.1241(E) dated 15.05.2009. Section 20 - Inquiry into combination by Commission (1) The Commission may, upon its own knowledge or information relating to acquisition referred to in clause (a) of section 5 or acquiring of control referred to in clause (b) of section 5 or merger or amalgamation referred to in clause (c) of that section, inquire into whether such a combination has caused or is likely to cause an appreciable adverse effect on competition in India: Provided that the Commission shall not initiate any inquiry under this sub-section after the expiry of one year from the date on which such combination has taken effect. (2) The Commission shall, on receipt of a notice under sub-section (2) of section 6 1[* * *], inquire whether a combination referred to in that notice or reference has caused or is likely to cause an appreciable.....

Finance Act, 2002 Chapter IV

Title: Indirect Taxes

State: Central

Year: 2002

.....1944 (1 of 1944) (hereinafter referred to as the Central Excise Act), in section 2, in clause (f),- (i) in sub-clause (ii), for the word "manufacture,", the words "manufacture; or" shall be substituted; (ii) after sub-clause (ii), the following sub-clause shall be inserted, namely:- "(iii) which is specified in relation to any goods by the Central Government, by notification in the Official Gazette, as amounting to manufacture,". Section 133 - Amendment of section 3 In section 3 of the Central Excise Act, in sub-section (1),-- (i) in clauses (a) and (b), after the words "excisable goods" wherever they occur, the brackets and words "(excluding goods produced or manufactured in special economic zones)" shall, with effect from such date as may be appointed by the Central Government, by notification in the Official Gazette, be inserted; (ii) in the proviso,-- (a) in clause (i), the words "or a special economic zone" shall, with effect from such date as may be appointed by the Central Government, by notification in the Official Gazette, be omitted; (b) in Explanation 2, for clause (i), the following clause shall be substituted, namely:-- '(i) "free trade zone".....

Securities and Exchange Board of India (Amendment) Act, 2002 Section 4

Title: Amendments of Section 11

State: Central

Year: 2002

.....of any intermediary or any person associated with the securities market in any manner involved in violation of any of the provisions of this Act, or the rules or the regulations made thereunder : Provided that only the bank account or accounts or any transaction entered therein, so far as it relates to the proceeds actually involved in violation of any of the provisions of this Act, or the rules or the regulations made thereunder shall be allowed to be attached; (f) direct any intermediary or any person associated with the securities market in any manner not to dispose of or alienate an asset forming part of any transaction which is under investigation: Provided that the Board may, without prejudice to the provisions contained in sub-section (2) or sub-section (2A), take any of the measures specified in clause (d) or clause (e) or clause (f), in respect of any listed public company or a public company (not being intermediaries referred to in section 12) which intends to get its securities listed on any recognised stock exchange where the Board has reasonable grounds to believe that such company has been indulging in insider trading or fraudulent and unfair trade.....

Competition Act, 2002 Section 19

Title: Inquiry into Certain Agreements and Dominant Position of Enterprise

State: Central

Year: 2002

.....determining whether an agreement has an appreciable adverse effect on competition under section 3, have due regard to all or any of the following factors, namely:-- (a) creation of barriers to new entrants in the market; (b) driving existing competitors out of the market; (c) foreclosure of competition by hindering entry into the market; (d) accrual of benefits to consumers; (e) improvements in production or distribution of goods or provision of services; (f) promotion of technical, scientific and economic development by means of production or distribution of goods or provision of services. (4) The Commission shall, while inquiring whether an enterprise enjoys a dominant position or not under section4, have due regard to all or any of the following factors, namely:-- (a) market share of the enterprise; (b) size and resources of the enterprise; (c) size and importance of the competitors; (d) economic power of the enterprise including commercial advantages over competitors; (e) vertical integration of the enterprises or sale or service network of such enterprises; (f) dependence of consumers on the enterprise; (g) monopoly or dominant position whether.....

Securities and Exchange Board of India (Amendment) Act, 2002 Section 7

Title: Insertion of New Chapter Va

State: Central

Year: 2002

.....made thereunder; (b) employ any device, scheme or artifice to defraud in connection with issue or dealing in securities which are listed or proposed to be listed on a recognised stock exchange; (c) engage in any act, practice, course of business which operates or would operate as fraud or deceit upon any person, in connection with the issue, dealing in securities which are listed or proposed to be listed on a recognised stock exchange, in contravention of the provisions of this Act or the rules or the regulations made thereunder; (d) engage in insider trading; (e) deal in securities while in possession of material or non-public information or communicate such material or non-public information to any other person, in a manner which is in contravention of the provisions of this Act or the rules or the regulations made thereunder; (f) acquire control of any company or securities more than the percentage of equity share capital of a company whose securities are listed or proposed to be listed on a recognised stock exchange in contravention of the regulations made under this Act.".

Finance Act, 2002 Section 118

Title: Amendment of Section 14

State: Central

Year: 2002

In section 14 of the Customs Act,-- (i) in sub-section (1), for the portion beginning with the words "international trade" and ending with the words "offer for sale", the following shall be substituted, namely:-- "international trade, where-- (a) the seller and the buyer have no interest in the business of each other; or (b) one of them has no interest in the business of the other, and the price is the sole consideration for the sale or offer for sale"; (ii) in sub-section (2), for the words "Central Government", the word "Board" shall be substituted; (iii) in sub-section (3),-- (a) in clause (a), for the words "Central Government", wherever they occur, the word "Board" shall be substituted; (b) for clause (b), the following clause shall be substituted, namely:- '(b) "foreign currency" and "Indian currency" have the meanings respectively assigned to them in clause (m) and clause (g) of section 2 of the Foreign Exchange Management Act, 1999;'.

Finance Act, 2002 Schedule V

Title: Fifth Schedule

State: Central

Year: 2002

.....from bulk packs to retail packs or the adoption of any other treatment to render the product marketable to the consumer, shall amount to "manufacture".'; (3) in Chapter 24, in sub-heading Nos. 2402.00, 2403.3 land 2403.32, for the entry in column (4) occurring against each of them, the entry "16%" shall be substituted; (4) in Chapter 30, in sub-heading No. 3004.10, for the entry in column (4), the entry "16%" shall be substituted; (5) in Chapter 40, -- (i) in sub-heading No. 4005.10, for the entry in column (3), the following entry shall be substituted, namely:-- "- Plates, sheets or strip, whether or not combined with any textile material, in relation to the manufacture of which no CENVAT credit of duty paid on the inputs used has been availed" ; (ii) in sub-heading Nos. 4011.10 and 4013.10, for the entry in column (4) occurring against each of them, the entry " 16%" shall be substituted; (6) in Chapter 44, in sub-heading Nos. 4410.19 and 4410.90, for the entry in column (4) occurring against each of them, the entry "16%" shall be substituted; (7) in Chapter 48 -- (i) in sub heading note 3, for clause (a), Ihe following clause shall be substituted,.....

Securities and Exchange Board of India (Amendment) Act, 2002 Section 17

Title: Insertion of New Section 15ha and 15hb

State: Central

Year: 2002

After section 15H of the principal Act, the following sections shall be inserted, namely:-- " 15HA. Penalty for fraudulent and unfair trade practices.-- If any person indulges in fraudulent and unfair trade practices relating to securities, he shall be liable to a penalty of twenty-five crore rupees or three times the amount of profits made out of such practices, whichever is higher. 15HB. Penalty for contravention where Not Found separate penalty has been provided.-- Whoever fails to comply with any provision of this Act, the rules or the regulations made or directions issued by the Board thereunder for which no separate penalty has been provided, shall be liable to a penalty which may extend to one crore rupees.".