Regulatory Mechanisms — Prelims Questions

Consider the following statements about regulatory authorities in India: 1. All regulatory authorities have quasi-judicial powers to adjudicate disputes 2. Members of regulatory authorities have fixed tenure and cannot be removed except through impeachment 3. Regulatory authorities can make rules that have the force of law within their mandate 4. Appeals from regulatory authorities always go directly to the Supreme Court Which of the statements given above are correct?

Which of the following best describes the concept of 'regulatory capture'?

The Competition Commission of India (CCI) can take action in which of the following situations? 1. Anti-competitive agreements between companies 2. Abuse of dominant position by market leaders 3. Mergers that may harm competition 4. Unfair trade practices by individual traders Select the correct answer:

Consider the following pairs of regulatory authorities and their appellate bodies: 1. SEBI - Securities Appellate Tribunal (SAT) 2. TRAI - Telecom Disputes Settlement and Appellate Tribunal (TDSAT) 3. CCI - National Company Law Appellate Tribunal (NCLAT) 4. IRDAI - Insurance Appellate Tribunal (IAT) Which of the pairs given above are correctly matched?

The principle of 'regulatory independence' in India is primarily ensured through: 1. Fixed tenure for regulatory authority members 2. Financial autonomy of regulatory bodies 3. Statutory mandate clearly defined in law 4. Direct appointment by the Prime Minister Select the correct answer: