The Monopolies and Restrictive Trade Practices Act, 1969

The Monopolies and Restrictive Trade Practices Act, 1969 had its genesis in the Directive Principles of State Policy embodied in the Constitution of India.[1] It received the assent of the President of India on 27 December, 1969.[2] The Monopolies and Restrictive Trade Practices Act was intended to curb the rise of concentration of wealth in a few hands and of monopolistic practices.[3] It was repealed on September 2009. The Act has been succeeded by The Competition Act, 2002.

History

The Government of India in April 1964 appointed the Monopolies Inquiry Commission under the Chairmanship of Justice K. C Das Gupta, a judge of the Supreme Court, to inquire into the extent and effect of concentration of economic power in private hands and prevalence of monopolistic and restrictive trade practices in important sectors of economic activity other than agriculture.[4]

A commission was also set up and was vested with mandatory powers with regard to cases of restrictive trade practices and advisory powers in respect of cases concerning monopolistic trade practices and concentration of economic power.

To regulate advertising, in 1984, Parliament inserted a chapter on unfair trade practices in the Monopolies and Restrictive Trade Practices Act, 1969.[5]

The Monopolies and Restrictive Trade Practices Commission was constituted in the year 1970.[6]


References

Notes

  1. ↑ "THE MONOPOLIES AND RESTRICTIVE TRADE PRACTICES ACT, 1969 POLICY,PROVISIONS AND PERFORMANCE" (PDF).
  2. ↑ The Monopolies and Restrictive Trade Practices Act, 1969. Georg Thieme Verlag.
  3. ↑ Legal Aspects of Business. Tata McGraw-Hill Education. 2013-01-01. ISBN 9781259026584.
  4. ↑ The Monopolies and Restrictive Trade Practices Act, 1969. Georg Thieme Verlag.
  5. ↑ Pathak, Akhileshwar (2016-04-18). "New law, statutory body imperative to foster fair trade practices in India". http://www.livemint.com/. Retrieved 2016-04-28. External link in |website= (help)
  6. ↑ Singh, Ravi Karan (1989-01-01). Restrictive Trade Practices and Public Interest. Mittal Publications. ISBN 9788170991724.
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