Consumer Protection Act (COMMERCE)

 




Consumer Protection Act, 1986

This Act was enacted for the protection of the interests of the consumers in India. It has the mechanism for redressal of the grievances of the consumers through consumer councils and other authorities.

This is considered as the 'Magna Carta' in the field of consumer protection and checking of unfair trade practices. It also deals with the issues of defects in the goods and deficiency in services.

Features:

  • The Consumer Protection Act applies to all goods and services until and unless the Union Government exempts it.
  • The Consumer Protection Act covers all public, private and cooperative sectors.
  • Provisions are compensatory in nature.
  • It educates consumers against exploitation.
  • It provides justice to aggrieved customers.

Consumer Protection Councils are being established and has also been established at national, state and district levels.

Protection of the rights of the consumers is the key objectives of the central council. This purpose is achieved by the following rights:

  • Right to consumer education.
  • Right to seek redressal against unfair or restrictive trade practices.
  • Right to be heard and assured that the consumer's interest will receive due consideration at appropriate forums.
  • Right to be informed about the quality, standard, quantity, prices of the goods and services.
  • Right to be protected against goods and services that are hazardous to life and property.

A three-tier jurisdiction system has been framed in order to redress the issues faced by the customers.

District Forums

  • All complaints of the consumers should be instituted in the District forums.
  • Only those complaints should be entertained whose compensation value is not more than rupees twenty lakhs.
  • Consumer courts do not have jurisdiction on cases where the matter relates to goods are bought for commercial purposes.

State Commission

  • This body is entitled to entertain complaints involving value more than rupees twenty lakhs.
  • It entertains appeals against the orders of any District Forum within the state.
  • Commission has the power to call for records and pass appropriate orders in any consumer dispute.

National Commission

  • It entertains complaints of value exceeding rupees one crore.
  • It entertains appeals against the order of any state mayor.
  • It can call for records and pass appropriate orders in any pending consumer dispute.

FEMA (Foreign Exchange Management Act), 1999.

This Act of Parliament was passed in order to replace the Foreign Exchange Regulation Act (FERA), 1973. It was passed to amend and regulate the laws relating to foreign exchange in order to promote the maintenance of foreign exchange market in India.

Features of FEMA are :

  • It empowers the Central Government to impose necessary restrictions on activities like that of making payments to people staying outside India or receiving payments from the foreign payees.
  • Each and every foreign transaction involving Indian or Foreign currency must be carried on by an authorized person whom the government gives its authorization.
  • It is totally upon the government to take away the authorization from the person or agency concerned if it finds the same against the interest of the general public.
  • Indian Residents are permitted to transact in foreign currency, foreign securities and foreign exchange and can even hold or own any immovable property abroad if the property was owned or held by a person when he/she was living outside India or if it is inherited from someone living outside of India.
  • This Act does not apply to Indian Citizens outside India.
  • It has also classified foreign transactions into two categories, i.e. Current Account and Capital Account.

With the growing dynamism, globalization and growth of foreign trade, this Act also paved the way for the introduction of Prevention of Money Laundering Act, 2002.

FEMA regulates from its five zonal offices situated at Delhi, Mumbai, Kolkata, Chennai and Jalandhar. Its head office (known as Enforcement Directorate) is situated at New Delhi, which is headed by a Director.

The Directorate is divided into 5 Zonal offices (headed by Deputy Director). These Zonal offices are further divided into seven sub-zonal offices which are headed by the Assistant Director and five field units headed by Chief Enforcement Officers

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