The Chartered Accountants Society, the governing body of chartered accountants, has set regulations to govern the activities of its members. Which of the following regulations do not violate the Competition Act?

Question

Quizplus · Accepted Answer

The Competition Act prohibits agreements between competitors that restrict competition, such as setting prices or limiting the number of competitors in the market. However, the Society's regulation that members may advertise only in the telephone yellow pages and in approved trade journals does not violate the Competition Act because it does not restrict competition. Similarly, the Society's regulation that the number of new C.A.'s admitted to practise each year may be limited does not violate the Competition Act because it does not restrict competition.

The Chartered Accountants Society, the Governing Body of Chartered Accountants