TMI BlogDefinitionsX X X X Extracts X X X X X X X X Extracts X X X X ..... section (1) of section 53A; ] (c) Cartel includes an association of producers, sellers, distributors, traders or service providers who, by agreement amongst themselves, limit, control or attempt to con trol the production, distribution, sale or price of, or, trade in goods or provision of services; (d) Chairperson means the Chairperson of the Commission appointed under sub-section (1) of section 9; (e) Commission means the competition Commission of India established under sub-section (1) of section 7; 3 [ (ea) commitment means the commitment referred to in section 48B; ] (f) consumer means any person who- (i) buys any goods for a consideration which has been paid or promised or partly paid and partly promised, or under any system of deferre ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g or dealing with shares, debentures or other securities of any other body corporate, either directly or through one or more of its units or divisions or subsidiaries, but does not include any activity of the Government relatable to the sovereign functions of the Government including all activities carried on by the departments of the Central Government dealing with atomic energy, currency, defence and space; ] Explanation.-For the purposes of this clause,- (a) activity includes profession or occupation; (b) article includes a new article and service includes a new service; (c) unit or division , in relation to an enterprise, includes- (i) a plant or factory established for the production, storage, supply, distribution, acquisition or contr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a co-operative society registered under any law relating to co-operative societies; (ix) a local authority; (x) every artificial juridical person, not falling within any of the preceding sub-clauses; (m) practice includes any practice relating to the carry ing on of any trade by a person or an enterprise; (n) prescribed means prescribed by rules made under this Act; (o) price , in relation to the sale of any goods or to the performance of any services, includes every valuable consideration, whether direct or indirect, or deferred, and includes any consideration which in effect relates to the sale of any goods or to the performance of any services although ostensi bly relating to any other matter or thing; 7 [ (p) public financial institutio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the provision of services in connection with business of any industrial or commercial matters such as banking, communication, education, financing, insurance, chit funds, real estate, transport, storage, material treatment, processing, supply of electrical or other energy, boarding, lodging, entertainment, amusement, construction, re pair, conveying of news or information and advertising; 9 [ (ua) settlement means the settlement referred to in section 48A; ] (v) shares means shares in the share capital of a company carrying voting rights and includes- (i) any security which entitles the holder to receive shares with voting rights; (ii) stock except where a distinction between stock and share is expressed or implied; (w) statutory authority ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... les or goods, or the provision of services, of any kind, or in invest ment, or in the business of acquiring, holding, underwriting or dealing with shares, debentures or other securities of any other body corporate, either directly or through one or more of its units or divisions or subsidiaries, whether such unit or division or subsidiary is located at the same place where the enterprise is located or at a different place or at different places, but does not include any activity of the Government relatable to the sovereign functions of the Government including all activities carried on by the departments of the Central Government dealing with atomic energy, currency, defence and space 5. Inserted vide Competition (Amendment) Act, 2023 dated ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
