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Business Environment by A. C. Fernando

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PART V: Economic Legislations

Chapter 31: The MRTP and the Competition Acts

Chapter 32: FERA and FEMA

Chapter 33: The Industries (Development and Regulation) Act

Part V deals with economic legislations that form the bases of economic activities. They define the relevant economic activities, their legal positions, the confines within which they have to operate, and the penalties for infractions. Among the five economic legislations discussed in this part, the MRTP Act, 1969; FERA, 1973; and IDRA, 1951 have almost become outdated. Their functions are being carried out by successor Acts such as the Competition Act, 2002 in place of MRTP Act, 1969 and FEMA, 1999 in place of FERA, 1999. Legislations relating to specific areas such as the ones for ...

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