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TMI BlogCompetition Commission of India (Settlement) Regulations, 2024X X X X Extracts X X X X X X X X Extracts X X X X ..... section 7 of the Act; (c) Director General means the Director General as defined in clause (g) of section 2 of the Act; (d) Penalty Guidelines means guidelines published by the Commission under sub-section (3) of section 64B of the Act; (e) Settlement Amount means the amount determined by the Commission under regulation 6 of these regulations; (f) Settlement Applicant means any enterprise, as defined in clause (h) of section 2 of the Act, against whom any inquiry has been initiated under sub-section (1) of section 26 of the Act for alleged contraventions of sub-section (4) of section 3 or section 4 of the Act, and submits an application for settlement of proceedings initiated for the alleged contraventions to the Commission under these regulations; (g) Settlement Application means an application submitted by a Settlement Applicant to the Commission under these regulations for settlement of proceedings initiated for the alleged contraventions of sub-section (4) of section 3 or section 4 of the Act. (2) Words and expressions used but not defined in these regulations shall have the same meanings as assigned to them in the Act or in the regulations framed thereunder or in the Companies ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ave examined or are currently examining the alleged contraventions including those where the Settlement Applicant has filed commitment and / or settlement applications. k) undertakings and waivers as per Schedule I. l) any other information that may assist the Commission in determining the terms of the settlement and the Settlement Amount having due regard to the factors specified under regulation 8. (2) The Settlement Application under sub-regulation (1) may be submitted after the receipt of the report of the Director General or confidential version thereof, if applicable, by the Settlement Applicant under sub-section (4) of section 26 of the Act. Provided that a Settlement Application shall not be entertained by the Commission if it is made after expiry of 45 (forty five) days from the receipt of report of the Director General or confidential version thereof, if applicable, by the Settlement Applicant. Provided further that the Commission may entertain a Settlement Application after the period specified above, if the Settlement Application is received within a further period of 30 (thirty) days and the Commission is satisfied that there had been sufficient cause for not filing th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... regulation 5, a.) the Commission may pass an order in terms of sub-section (3) of section 48A of the Act agreeing to the proposal for settlement as contained in the Settlement Application filed under sub-regulation (1) of regulation 3 or the revised Settlement Application filed under sub-regulation (2) above, as the case may be, subject to such other terms relating to manner of implementation of settlement and monitoring and close the proceedings against the Settlement Applicant forthwith. b.) if the Commission is of the opinion that the Settlement Application filed under sub-regulation (1) of regulation 3 or the revised Settlement Application filed under sub-regulation (2) above, as the case may be, are not appropriate in the circumstances, it shall by order passed in terms of sub-section (5) of section 48A of the Act, reject the Settlement Application and proceed with its inquiry under section 26 of the Act. c.) if the Commission is not satisfied with the Settlement Application, it shall within 15 (fifteen) working days after the expiry of period specified in regulation 5, communicate to the Settlement Applicant the reasons for the same and call upon the Settlement Applicant to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ection (5) of section 48A of the Act, reject the Settlement Application and proceed with its inquiry under section 26 of the Act. (10) The entire settlement proceedings shall be concluded within 180 (one hundred and eighty) working days of the receipt of the Settlement Application complete in all respect in terms of regulation 3, failing which the inquiry under section 26 of the Act against the Settlement Applicant shall stand resumed. Provided that the Commission may extend the said period of 180 (one hundred and eighty) working days by such further period as may be specified, if deemed appropriate, for reasons to be recorded in writing. (11) The Commission may seek clarification, information, or data from the Settlement Applicant, as deemed appropriate, which shall be provided by the Settlement Applicant within the time specified by the Commission. (12) Notwithstanding the above provisions, a Settlement Application may also be rejected at any time on the following grounds: a. where the Settlement Applicant refuses to receive or respond to the communications sent by the Commission. b. where the Settlement Applicant violates in any manner or does not abide by the undertaking and wa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Settlement Amount, the Commission would compute base amount which could extend up to maximum amount of penalty that would otherwise have been leviable under section 27(b) of the Act. (2) For the purpose of determining base amount as referred to in sub-regulation (1), the Commission shall be guided by the Penalty Guidelines. (3) The Settlement Amount would be determined by applying a settlement discount of 15% to the base amount computed under sub-regulation (1) and (2). 7. Nature and effect of settlement order. - (1) Without prejudice to provisions of section 53N of the Act, the order passed by the Commission agreeing to the proposal for settlement shall not be construed as a finding of contravention by the Commission against the Settlement Applicant. (2) Filing of Settlement Application or issuance of settlement order by the Commission shall have no bearing on the inquiry under section 26 of the Act in relation to the alleged contraventions, in respect of the other parties to the inquiry who are not part of the settlement proceedings. (3) The settlement order shall be final and binding upon the Settlement Applicant. 8. Assessment of the terms of the settlement. The Commission sha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e (ECS) by direct remittance to the Competition Commission of India (Competition Fund), Account No. 1988002100187687 with Punjab National Bank, Bhikaji Cama Place, New Delhi- 110066 . 10. Implementation and monitoring of settlement order. Where the Commission is of the opinion that the implementation of the Settlement Order needs monitoring, it may appoint agencies to oversee such implementation in terms of the Competition Commission of India (General) Regulations, 2009 and on such terms and conditions as may be specified by the Commission. 11. Revocation of the Settlement Order. - (1) If a Settlement Applicant fails to comply with the order passed by the Commission under section 48A of the Act or it comes to the notice of the Commission that the Settlement Applicant has not made full and true disclosure during the settlement proceedings or there has been a material change in the facts, the order passed under section 48A of the Act shall stand revoked and withdrawn. Provided that before making an opinion in this regard, the Commission shall give an opportunity to the Settlement Applicant to show-cause, within a period of 15 working days from the date of receipt of the show-cause no ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... der these regulations. 13. Request for Confidentiality. 1. If any party request confidentiality of information or document(s) submitted during settlement proceedings, such request may be filed as per the procedure laid down in the Competition Commission of India (General) Regulations, 2009, as amended from time to time. 2. Such request for confidentiality shall be duly considered in accordance with the provisions laid down in the Competition Commission of India (General) Regulations, 2009, as amended from time to time read with section 57 of the Act. 14. Inspection and certified copies of documents. 1. Notwithstanding anything contained to the contrary in regulation 37 and regulation 50 of the Competition Commission of India (General) Regulations, 2009, inspection and certified copies of documents submitted during settlement proceedings may be granted only to the Informant and the Settlement Applicant. Provided that the inspection and certified copies of the confidential version of such documents shall be granted as per provisions of regulation 35 of the Competition Commission of India (General) Regulations, 2009. 2. Inspection and certified copies of comments received under regula ..... X X X X Extracts X X X X X X X X Extracts X X X X
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