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Competition Act replaced:
Consumer Protection Act
Monopolies and Restrictive Trade Practices Act
Right to Information Act
None of the above
- Option 1: Consumer Protection Act
- This act focuses on safeguarding consumer rights and ensuring fair trade practices.
- It is separate from competition laws that deal with market competition and anti-competitive practices.
- Option 2: Monopolies and Restrictive Trade Practices Act
- This is indeed the predecessor of the Competition Act in India.
- The Competition Act was enacted to replace the MRTP Act in order to better handle modern economic conditions related to competition.
- Option 3: Right to Information Act
- This act provides transparency and access to information from public authorities.
- It is unrelated to competition or trade practices.
- Option 4: None of the above
- Since Option 2 is correct, this option is not applicable.
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