Section 12: Establishment of Commission

12. Establishment of Commission.___ (1) There is hereby established a Commission to be called the Competition Commission of Pakistan. (2) The Commission shall be a body corporate with perpetual succession and common seal, and may sue and be sued in its own name and, subject to an d for the purpose of this Act, may enter into contracts and may acquire, purchase, take, hold and enjoy mov eable and immovable property of every description and may convey, assign, surrender, yield up, charge, mortgage, demise, reassign, transfer or otherwise dispose of or deal with any mov eable or immovable proper ty or any interest vested in it, upon such terms as it deems fit. (3) The Commission shall be administratively and functionally independent, and the Federal Government shall use its best efforts to promote, enhance and maintain the independence of the Commission.

Effective date: 2010-01-01

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