MCQ on competition commission of India

Consider following statements about the Competition Commission of India (CCI)
1. The CCI is a statutory body which was established under the Monopolies and Restrictive Trade Practices (MRTP) Act, 1969.
2. The Chairperson and members of CCI are appointed by President.
3. Its objectives are to protect the interests of consumers and freedom of trade.
Select the correct answer using the code given below:
A.
1 and 3 only
B.
3 only
C.
1 and 2 only
D.
2 and 3 only
Explanation :
• The Competition Commission of India (CCI) is a statutory body which was established under the Competition Act, 2002 for the administration, implementation and enforcement of the Act.
• CCI consists of a Chairperson and 6 Members appointed by the Central Government and was duly constituted in March 2009.
• The following are the objectives of the 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.

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