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business law

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  • 1. By omid minooee
  • 2. Bureau of Indian standard act,1986
  • 3. The monopolistic and restrictive trade practicesact,1969 is an important piece of economic legislationdesigned to ensure that the operation of the economicsystem does not result in the concentration of economicpower to the common detriment.The act came into force from 1st June ,1970 and has beenamended in 1970
  • 4. Mrtp act ,1969,aims to prevent concentration of economic power to the commondetriment, provide for control of monopolies and probation ofmonopolistic, restrictive and unfair trade practice, and protect consumer interest.Monopolistic trade practice is that which represents abuse of market power in theproduction and marketing of goods and services by eliminating potentialcompetitors from market and taking advantages of the control over the market bycharging unreasonably high prices, preventing or reducing competition ,limitingtechnical development, deteriorating product quality or by adopting unfair ordeceptive trade practices…..
  • 5. Before amendment in 1991: After amendment in 1991: Controlling monopolistic trade practices Regulating restrictive and unfair trade practices
  • 6. It means in order to maximize profit and to increase marketpower, certain business firms unreasonably charge highprices to prevent competition in the production anddistribution of goods by adopting unfair trade practices.It is a trade practice which represents the abuse of the marketpower by charging unreasonably high prices
  • 7. 1.Regulation of production and fixing the term of sale2.Prohibiting any action that restricts competition,3.Fixing standards for goods produced.
  • 8. A trade practice which restricts or reduces competition maybe termed as restrictive trade practices and it harm theconsumer interest.Because of their adverse effect on the consumer and publicinterest ,they are sought to be regulated in almost everycountry of the world .
  • 9. 1.The practice shall not be repeated2.The agreement shall not be void and shall standmodified in such a manner as may be specified in theorder
  • 10. Unfair trade practice means a trade practice which ,forthe purpose of promoting the sale, use or supply of anygoods or for the provision of any service, adopts anyunfair or deceptive practice
  • 11. *.the practice shall not be repeated.*.any agreement relating to such an utp shall be void orshall stand modified in such a manner as may bedirected by the commission.
  • 12. The MRTPs act, besides adversely affecting Conclusioneconomic growth, blunted Indian Oncompanies’ ability to grow, consolidate and MRTPsimprove competitiveness. act,1969This has had a very dampening effect ontheir global competitiveness.
  • 13.  INDIAN STANDARDS INSTITUTION [now known as BUREAU OF INDIAN STANDARDS( BIS)] set up on 6 JANUARY 1947 BIS is functioning under MINISTRY OF CONSUMER AFFAIRS, FOOD AND PUBLIC DISTRIBUTION, GOVT OF INDIA as a statutory body under BIS ACT, 1986 with effect from 1 APRIL 1987 NATIONAL STANDARDS BODY of INDIA
  • 14. *.Harmonious, development of standardization andquality control in national and international arena*.Certification schemes for products and systems*.Growth and development of Indianindustry, commerce and exports*.Consumer protection
  • 15. An Act to provide for the establishment of a Bureau for theharmonious development of theactivities of standardization, marking and quality certification ofgoods and for matters connectedtherewith or incidental thereto.BE it enacted by Parliament in the Thirty-seventh year of theRepublic of India as follows:-Comment: The Act seeks to provide for the for the harmoniousdevelopment of the activities ofstandardization, marking and quality certification of goods and formatters connected therewith orincidental thereto.
  • 16. 1.Short title, extent and commencement.- (1) This Act may be calledthe Bureau of IndianStandards Act, 1986.(2) It extends to the whole India.(3) It shall come into force on such date{1-4-1987 ! vide NotificationNo.S.O.272(E), dated 31-3-1987, Gazette of India, Extraordinary, 1987, Part II, section 3(ii)} as theCentral Government may,by notification in the official Gazette, appoint.2.definitions:
  • 17. 3.Establishment and incorporation of Bureau of IndianStandards.4.Constitution of Executive Committee.5.Constitution of the Advisory committees and other committees.-6.Vacancies, etc., not to invalidate proceedings of Bureau Executive Committee, etc.- No actorproceedings of the Bureau the Executive Committee or any Committee constituted undersection5 shall be invalid merely by reason of-(a) any vacancy in, or any defect in the constitution of the Bureau or the Committee; or(b) any defect in the appointment of a person acting as a member of the Bureau orCommittee; or(c) any irregularity in the procedure of the Bureau or the Committee not affecting the meritsof thecase.
  • 18. 7.Director General of the Bureau.- (1) The Central Government shall appoint a Director Generalthe Bureau.(2) The terms and conditions of service of the Director-General the Bureau shall be such as maybe prescribed.(3) Subject to the general superintendence and control of the Bureau, the Director-General of theBureau shall be Chief Executive Authority of the Bureau.(4) The Director-General of the Bureau shall exercise and discharge such of the powers andduties of the Bureau as may be determined by regulations.8.Officers and employees of the Bureau.- (1) The Bureau may appoint such other officers andemployees as it considers necessary for the efficient discharge of its functions under this Act.(2) The terms and conditions of service of officers and employees of the Bureau appointed undersub-section (1) shall be as may be determined by reclamations.
  • 19. 9.Transfer of assets, liabilities and employees of Indian StandardsInstitution.(1) On and fromthe date of establishment of the Bureau,(2) Notwithstanding anything contained in the Industrial DisputesAct, 1947(14 of 1947) or in anyother law for the time being in force, the absorption of any employee bythe Bureau in its regularservice under this section shall not entitle such employees to anycompensation under that Act orother law and so such claim be entertained by any court, tribunal or otherauthority.
  • 20. 10.Functions of the Bureau.-11.Prohibition of improper use of Standard Mark.-12.Prohibition of use of certain names, etc.-13.Prohibition of registration in certain cases.-14.Compulsory use of Standard Mark for articles andprocesses to certain scheduled industries.-If the Central Government, after consulting theBureau, is of the opinion that it is necessary orexpedient so to do, in the public interest, it may, by orderpublished in the Official Gazette,-
  • 21. 15.Grant of license.- (1) The Bureau may, byorder, grant, renew, suspend or cancel a license insuch manner as may be determined by regulations.(2) The grant or renewal of the license under sub-section(1) shall be subject to such conditionsand on payment of such fees as may be determined byregulations.
  • 22. 16.Appeal.- (1) Any person aggrieved by an order made under section 15 may prefer an appealto the Central Government within such period as may be prescribed.(2) No appeal shall be admitted if it is preferred after the expiry of the period prescribed therefore:Provided that an appeal may be admitted after the expiry of the period prescribed therefore if theappellant satisfies the Central Government that he had sufficient cause of for not preferring, theappeal within the prescribed period.(3) Every appeal made under this section shall be made in such form and shall be accompaniedby a copy of the order appealed against and by such fees as may be prescribed.(4) The procedure for disposing of an appeal shall be such as may be prescribed:Provided that
  • 23. 17.Grants and loans by the Central Government18.Fund.-19.Borrowing powers of the bureau.-20.Budget.-21.Annual report.-22.Accounts and audit.-23.Annual report to be laid before Parliament.- TheCentral Government shall cause the annualreport to be laid, as soon as may be after it isreceived, before each House of Parliament.
  • 24. 24.Power of Central Government to issue directions.-25.Inspecting officer.26.Power to search and seizure.-27.Delegation28.Power to obtain information.-29.Savings.-30.Certain matters to be kept confidential.-31.Members, officers and employees of the Bureau to bepublic servants.-
  • 25. 32.Protection of action taken in good faith.-33.Penalty for improper use of Standard Mark, etc.-34.Cognizance of offences by courts.-35.Offences by companies.-36.Authentication or orders and other instruments ofthe Bureau.-37.Power to make rules.-38.Power to make regulations.-39.Rules and regulations to be laid before Parliament.-
  • 26. 40.Act not to affect operation of certain Acts.-41.Power to remove difficulties.-42.Repeal and saving.-

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