The document discusses the legal environment for businesses in India. It defines the legal environment as the set of laws and regulations that influence business operations. It specifically mentions the Competition Act of 2002, which is designed to protect competition in the market and protect consumer interests. The Foreign Exchange Management Act (FEMA) gives the central government power to impose restrictions on foreign exchange transactions and property, and requires transactions to go through authorized persons.

1. LEGAL ENVIRONMENT
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2. CONTENT
• Meaning
• Competition Law
• Competition Act 2002
• Foreign Exchange Management Act (FEMA)
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3. MEANING
• Set of laws, regulations, which influence the
business organisations and their operations.
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4. • It is designed to protect the interest of the
consumer by protecting ‘competition’ in the
market.
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5. COMPETITION ACT, 2002
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6. ITFT College 6
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7. ITFT College 7
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8. Features
• FEMA gives the central government the
power to impose the restrictions.
• Restrictions are imposed on immovable
property abroad.
• The transactions should be made only
through an authorised person.
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9. Features
• Deals in foreign
exchange can be
restricted by the Central
Government.
• The RBI is empowered
the capital account
transactions to a
number of restrictions.
• Exporters are needed to
furnish their export
details to RBI.
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10. Features
• Deals in foreign
exchange can be
restricted by the Central
Government.
• The RBI is empowered
the capital account
transactions to a
number of restrictions.
• Exporters are needed to
furnish their export
details to RBI.
ITFT College 9
04/26/14