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Which of the legislation do not from part of the legal environment of business in India?
Answer & Solution
Correct Answer:
Option
D
Legal environment of business refers to the laws, regulations, and acts that directly influence and regulate business operations in a country. These laws are specifically framed to guide and control business practices.
The Drugs and Cosmetics Act, 1940 forms part of the legal environment of business because it directly regulates the production, distribution, and quality of drugs and cosmetics, ensuring business practices meet health and safety standards.
The Prevention of Food Adulteration Act, 1954 mainly deals with consumer protection and public health rather than regulating business operations in general.
The Monopolies and Restrictive Trade Practices Act, 1969 (MRTP) was replaced by the Competition Act, 2002. Therefore, MRTP Act no longer forms part of the current legal environment of business in India.
Thus, the legislations that do not form part of the legal environment of business in India are both B and C.
The Drugs and Cosmetics Act, 1940 forms part of the legal environment of business because it directly regulates the production, distribution, and quality of drugs and cosmetics, ensuring business practices meet health and safety standards.
The Prevention of Food Adulteration Act, 1954 mainly deals with consumer protection and public health rather than regulating business operations in general.
The Monopolies and Restrictive Trade Practices Act, 1969 (MRTP) was replaced by the Competition Act, 2002. Therefore, MRTP Act no longer forms part of the current legal environment of business in India.
Thus, the legislations that do not form part of the legal environment of business in India are both B and C.
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