Section 40 - Amendment of section 53N - Competition (Amendment) Act, 2023

Amendment of section 53N. 40 . In section 53N of the principal Act, (a) in sub-section (1), for the words, brackets, figures and letter under sub-section (2) of section 53Q of the Act, and to pass an order for the recovery of compensation from any enterprise for any loss or damage shown to have been suffered, by the Central Government or a State Government or a local authority or any enterprise or any person as a result of any contravention of the provisions of Chapter II, having been committed by enterprise , the words, brackets, figures and letters under sub-section (2) of section 53Q or the orders of the Supreme Court in an appeal against the findings of the Appellate Tribunal under section 53T or an order for settlement passed under section 48A, and to pass an order for the recovery of compensation from any enterprise for any loss or damage shown to have been suffered, by the Central Government or a State Government or a local authority or any enterprise or any person as a result of any contravention of the provisions of Chapter II, having been committed by enterprise or as a result of order of settlement passed by the Commission shall be substituted; (b) in sub-section (2), after the words findings of the Commission , the words or Appellate Tribunal or the Supreme Court, or an order for settlement shall be inserted; (c) in the Explanation, (i) in clause (a), after the words, brackets, figures and letter sub-section (1) of section 53A , the words, figures and letter or the Supreme Court on appeal under section 53T shall be inserted; (ii) in clause (b), after the words or the Appellate Tribunal , the words or the Supreme Court, shall be inserted. *********** Notes:- 1. Come into the force w.e.f. 06-03-2024 vide Notification No. S.O. 1065(E) dated 05-03-2024