With reference to the Competition Commission of India, consider the following statements:
I. It is a statutory body established under Competition Act, 2002 as amended by the Competition (Amendment) Act, 2007.
II. It consists of a chairperson and five members appointed by the Central Government.
Which of the above statements is/are correct?
The correct answer is (1) I only. The CCI was established under the Competition Act 2002 (amended 2007) β Statement I is correct. However, the CCI consists of a Chairperson and not more than 6 other members (not 5) β Statement II is incorrect.