Question

Arrange the following items in correct sequence :
(A) Competition Act
(B) FEMA
(C) FERA
(D) MRTP
Choose the correct answer from the options given below :

• A. (A), (B), (C), (D)
• B. (A), (C), (B), (D)
• C. (D), (C), (B), (A)
• D. (C), (B), (D), (A)

Answer 1

The Correct Option is C

To correctly sequence these Acts, understanding their enactment order is essential:

1. MRTP Act (1969): The Monopolies and Restrictive Trade Practices Act was enacted to curb monopolistic and restrictive trade practices in India.
2. FERA (1973): The Foreign Exchange Regulation Act was enacted to regulate foreign exchange; it was superseded by FEMA in 1999.
3. FEMA (1999): The Foreign Exchange Management Act was enacted to support external trade and payments, and to foster the development of India's foreign exchange market.
4. Competition Act (2002): The Competition Act was enacted to establish a commission tasked with preventing practices detrimental to competition.

The chronological order of these Acts is thus: MRTP (D), FERA (C), FEMA (B), Competition Act (A).

The correct sequence is: (D), (C), (B), (A).