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Mrtp Act and Competition Act – Difference
Following are the important differences between the MRTP Act, 1969 and Competition Act, 2002:
1) MRTP Act is based on the pre-liberalization scenario whereas Competition Act is based on the post liberalization scenario.
2) MRTP Act emphasizes on curbing monopolies whereas Competition Act emphasizes on promoting competition.
3) MRTP Act provides for compulsory registration of agreements relating to restrictive trade practices whereas in Competition Act, there is no such requirement of registration of agreements.
4) Under Competition Act, dominance per se is not bad but only the abuse of dominance is considered bad whereas under the MRTP Act, dominance itself is bad.
5) Combinations are not regulated by MRTP Act whereas they are regulated by Competition Act.
6) MRTP Act does not vest MRTP Commission power to inquire into cartels of foreign origin in a direct manner whereas the Competition Act seeks to regulate them.
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