According to the Competition Act (Section 7(2)), the Commission shall be a body corporate by the name Competition Commission of India, having perpetual succession and a common seal with power, subject to the provisions of this Act, to acquire, hold and dispose of property, both movable and immovable, and to contract and shall, by the said name, sue or be sued.
Composition of the CCI- Section 8
The CCI comprises of a Chairperson and not less than two and not more than six members;
The Chairperson and the members of CCI are appointed by the Central Government from a Panel of names recommended by the Selection Committee;
The Chairperson and every other member shall hold office for a term of five years and are eligible for re-appointment;
Duties of the Commission
Section 18 provides that it shall be the duty of the Commission to eliminate practices having adverse effect on competition, promote and sustain competition, protect the interests of consumers and ensure freedom of trade carried on by other participants, in markets in India.
Other duties of the CCI includes:
The Commission may inquire into any alleged contravention of the provisions contained in Section 3 (Anti-competitive agreements) or Section 4 (Abuse of dominant position) either on its own motion or on the receiving any such information- Section 19
The Commission may, upon its own knowledge or information relating to acquisition or acquiring of control or merger or amalgamation, inquire into whether such a combination has caused or is likely to cause an appreciable adverse effect on competition in India- Section 20(1)
Reference by Statutory Authority- Where in the course of a proceeding before any statutory authority an issue is raised by any party that any decision which such statutory authority has taken or proposes to take is or would be, contrary to any of the provisions of this Act, then such statutory authority may make a reference in respect of such issue to the Commission and the Commission shall give its opinion, within sixty days of receipt of such reference - Section 21
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