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regulations · 2002 · State unknown

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Parent: THE COMPETITION ACT, 2002 (05f5585821b2c38de7736058a72e7cf5b80019a7)

Text

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Rule TOC

33d · 31aa7 # aiadg

1 · Short title and commencement _ (1) These regulations may be called the Competition Commission of India (Lesser Penalty) Regulations, 2009. (2) They shall come into force on the date of their publication in the Official Gazette. 2. Definitions: - (1) In these regulations, unless the context otherwise requires, (a) Act" means the Competition Act; 2002 (12 of 2003); (b) "applicant" means an enterprise , as defined in clause (h) of section ? of the Act who is or was a member of a cartel and submits an application for lesser penalty to the Commission; (c) cartel" means a cartel as defined in clause (c) of section 2 of the Act; (d) "Commission" means the Competition Commission of India established under sub-section (1) of section 7 of the Act; (e) "company" means a company as defined in clause (a) of Explanation to cub-section (2) of section 48 of the Act; (f) "designated authority" means an officer of the Commission who is authorized by the Chairperson to function as such, for the purpose of these regulations; (g) 'Director General" means the Director General as defined in clause (g) of section 2 of the Act; (h) "priority status" means the position of the applicant marked for giving the benefit of lesser penalty in the queue of the applicants; "vital disclosure' means full and true disclosure of information or evidence by the applicant to the Commission, which is sufficient to enable the Commission to form a prima-facie opinion about the existence of a cartel or which helps to establish the contravention of the provisions of section 3 of the Act. (2) Words and expressions used but not defined in these regulations shall have the same meanings' respectively as assigned to them in the Act, rules, regulations or in the Companies Act, 1956 (1 of 1956) , as the case may be.

3 · Conditions for lesser penalty: (1) An applicant; seeking the benefit of lesser penalty under section 46 of the Act, shall 29 So 01/-9 - 2

5 · Procedure for grant of lesser penalty. (1) For the purpose of grant of lesser penalty, the applicant or its authorized representative may make an application containing all the material information as specified in the Schedule, or may contact; orally or through e-mail or fax, the designated authority for furnishing the information and evidence relating to the existence of a cartel. The designated authority shall, thereafter, within three working days, put up the matter before the Commission for its consideration.

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