Question

what is MRTP act explain its object and circumstances in which the act does not apply​

Answer 1

Explanation:

1. Short title, extent and commencement .-(1) This Act may be called The Monopolies and Restrictive Trade Practices Act, 1969.

(2) It extends to the whole of India except the State of Jammu and Kashmir.

(3) It shall come into force on such date as the Central Government may, [by notification], appoint.

Object & Reasons6

2. Definitions .-In this Act, unless the context otherwise requires,-

(a) "agreement" includes any arrangement or understanding, whether or not it is intended that such agreement shall be enforceable (apart from any provision of this Act) by legal proceedings;

(b) "Commission" means the Monopolies and Restrictive Trade Practices Commission established under section 5;

[(c) "Director-General" means the Director-General of Investigation and Registration appointed under section 8, and includes any Additional, Joint, Deputy or Assistant Director-General of Investigation and Registration appointed under that section];

Answer 2

Explanation:

The Monopoly and Restrictive Trade Practice Act 1969 became obsolete in the present world of throat cutting competition. The MRTP Act prevent the expansion of the companies whose assets was 100 crore, because these companies need to take government permission to expand their business.