Competition and Consumer Act, 2010
12 Pages3817 Words109 Views
Added on 2020-10-22
Competition and Consumer Act, 2010
Added on 2020-10-22
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The current version of s 46(following the Harper Review)prohibitsconduct that has the ‘purpose,or has or is likely to have theeffect,of substance
Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1Concept Of Market Power..........................................................................................................1Section 46 of Competition and Consumer Act, 2010................................................................2CONCLUSION ...............................................................................................................................8REFERENCES................................................................................................................................9.........................................................................................................................................................9
INTRODUCTIONCompetition and Consumer Act 2010, is the law which has been commenced for thepurposed of maintaining fair competition in the market place (Whish and Bailey, 2015). It is oneof those law which is very important for maintaining rules and regulation with in the country.After the the commencement of this law, lots of changes can be found where unfair tradepractices had been reduced. This law came into force on 1st of January 2011. In this file, thediscussion will related to section 46 of Competition and Consumer Act, 2010. There will bedetail discussion regarding relevant section and how multinational companies are ruling themarket in current position. Topics like effect test and purpose test will help to know that whichtest is much and more effective for the market.MAIN BODYConcept Of Market PowerMarket power is defined as an ability of business through which a company insulate itselffrom intense competition. Here, market describes which products or businesses are relativelyclose substitutes, including a detailed analysis on function level of same. A business within aparticular market and having a substantial degree of power is not allowed to be engaged inoperation, which has the effect or likely effect and purpose of substantially lessening competitionover there. This kind of behaviour is considered as ‘misuse of market power’, which is not illegalfor having or obtaining market power through offering high quality of products and services onaffordable rates (Cantator and Marshall, 2014). In other words, possession of such market powerof own business is referred as lawful. Therefore, for determining if there has been any misuse ofmarket power then authorities will put a likely test. It will help in identifying whether a companyhas substantial market power or engaging in conduct for a specified purpose, likely effect relatedto substantially lessening competition. This would can be determined through a combination ofvarious factors like how a company proves competitive for others, its market share, financialstrength and the ability of business for consistently restricting the competition. Along with this,purpose of business is termed as intention to accomplish certain goal while, effect refers to realconsequences of conduct in direct manner. Furthermore, likely effect is said to be lessconsequences of business, including potential impact of business activities on competitive1
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