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      Question

      What restrictions are placed on enterprises and

      individuals regarding agreements that affect competition within India, and what are the consequences of violating these restrictions?
      A Enterprises can freely enter into any agreements without regard for competition Correct Answer Incorrect Answer
      B Agreements that do not affect competition are allowed, regardless of their nature Correct Answer Incorrect Answer
      C No enterprise or person shall enter into agreements that cause or are likely to cause appreciable adverse effects on competition in India; such agreements shall be void Correct Answer Incorrect Answer
      D Any agreement concerning goods or services must be approved by the government Correct Answer Incorrect Answer
      E Agreements that benefit consumers are exempt from these regulations Correct Answer Incorrect Answer

      Solution

      Section 3 Anti-competitive agreements: (1) No enterprise or association of enterprises or person or association of persons shall enter into any agreement in respect of production, supply, distribution, storage, acquisition or control of goods or provision of services, which causes or is likely to cause an appreciable adverse effect on competition within India. (2) Any agreement entered into in contravention of the provisions contained in sub-section (1) shall be void.  

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