Section 2 – Definitions | CA, 2002

The Competition Act, 2002

CHAPTER I: PRELIMINARY

Section 2: Definitions

In this Act, unless the context otherwise requires,

(a) "acquisition" means, directly or indirectly, acquiring or agreeing to acquire:
1. shares, voting rights or assets of any enterprise; or
2. control over management or control over assets of any enterprise;
(b) "agreement" includes any arrangement or understanding or action in concert,
1. whether or not, such arrangement, understanding or action is formal or in writing; or
2. whether or not such arrangement, understanding or action is intended to be enforceable by legal proceedings;
(ba) "Appellate Tribunal" means the National Company Law Appellate Tribunal referred to in sub-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 control 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 8;
(e) "Commission" means the Competition Commission of India established under sub-section (1) of section 7;
(ea) "commitment" means the commitment referred to in section 48B;
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Simplified Act

This law explains certain terms used throughout the document:

(a) "acquisition" means taking over or agreeing to take over:
1. shares, voting rights, or assets of a company; or
2. control over a company's management or assets.
(b) "agreement" means any type of coordination or cooperation between parties,
1. regardless of whether it is formal or written down; or
2. regardless of whether it can be enforced in court.
(ba) "Appellate Tribunal" refers to the appeals court established by the law.
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