Use BookMyEssay:Competition Act 2002 and FEMA Acts Assignment Help

The Competition Act, 2002 replaced the Monopolies and Restrictive Trade Practices Act, 1969. After the enactment of this Act, it has been amended twice. The main feature of this Act is the establishment of the Competition Commission and it prevents anti-competitive practices and it promotes competition. FEMA or the Foreign Exchange Management Act 1999 is to amend and consolidate laws related to foreign exchange with an objective to facilitate external payment and trade. If you searching for Competition Act 2002 and FEMA Acts assignment help then BookMyEssay is there to provide you with perfect academic writing guidance related to this topic.

The main objectives of the Competition Act, 2002 are as follows:

• Provide the framework to establish the Competition Commission
• Protection of consumer interests
• Promote competition and prevent monopolies
• Protection of freedom of trade for participating entities and individuals in the market.

Objectives of FEMA Acts

The main objective of this Act is to facilitate external trade and payments. It is meant for orderly maintenance and development of foreign exchange market. It defines the formalities, procedures, dealings of the foreign exchange transactions. The transactions are classified mainly under two categories namely Capital Account Transactions and Current Account Transactions. FEMA Act is applicable to the whole country and was formulated primarily to use foreign exchange resources efficiently. It is applicable to the agencies and offices located outside India.  We are professional Competition Act 2002 and FEMA Acts homework writing service that works every day, 24/7 to make sure our customers always get a high-quality paper delivered on time.

What are Anti-Competitive Agreements?

Anti-competitive agreements are made by companies who compete in the same market to reduce stocks or fix prices to manipulate markets favorably. This way companies minimize the competition that affects adversely the consumers.

The Anti-Competitive agreements have a significant adverse effect on competition. An agreement is anti-competitive if it results in the following:

• Limits supply
• Limits production
• Indirectly affects the sale or purchase prices
• limits service provisioning
• Restricts technical development
• Results in collusive bidding
• Results in bids rigging.

Abuse of Dominant Position

Abuse of dominant position is explained by our Competition Act 2002 and FEMA Acts assignment paper help. According to the Competition Act 2002, dominant position means enterprises who enjoy the power and position in the market that enables to:

• operate independently of the competitive forces in the market
• affects the consumer, competition, or the market in its favor

For instance, predatory pricing is a practice that abuses a dominant position. When a dominant business engages itself in anti-competitive agreements, it abuses its dominant position.

Applicability of the FEMA Act

The applicability of the FEMA Act 2002 is discussed in our Competition Act 2002 and FEMA Acts assignment help online as follows:

• export of goods and services from India to another country in a foreign currency, in a currency other than an Indian currency
• foreign security
• foreign exchange
• banking, insurance, and financial services
• import of services and goods from outside to India
• an overseas company, which is owned more than 69% by a Non-Resident Indian
• an Indian citizen residing outside or in the country
• purchase, sale, and exchange

According to section 3 of FEMA, the current account transactions are free, but the Central Government can impose reasonable restrictions any time through special rules. FEMA has provisions of different penalties, enforcement, appeals, and adjudications.

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