Introduction to the Competition Act, 2002
The Competition Act, 2002 after being passed by both the Houses of Parliament was assented to by the President on 13th January, 2003. Some of its provisions were brought into force with effect from 31.3.2003. Provisions relating to competition advocacy came into force from 19.6.2003. Provisions relating to prohibition of anti-competitive agreements (Section 3), abuse of dominant position (Section 4) were made effective from 20.9.2010 while provisions relating to regulation of combination (Sections 5 & 6) came into force with effect from 1.6.2011.The object and the purposes of the Act are explained in its preamble which read as follows:
"An Act to provide, keeping in view of the economic development of the country, for the establishment of a Commission to prevent practices having adverse effect on competition, to promote and sustain competition in markets, to protect the interests of consumers and to ensure freedom of trade carried on by other participants in markets, in India, and for matters connected therewith or incidental thereto"

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