Consideration of proposal for settlement

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..... Settlement Application. (3) When the Settlement Application complete in all respects is placed for consideration before the Commission under sub-regulation (1) above, the inquiry against the Settlement Applicant shall remain in abeyance till final decision on the Settlement Application or till such time, as may be decided by the Commission. (4) While considering the proposal for settlement, the Commission shall invite objections and suggestions in terms of regulation 5. (5) After consideration of the nature, gravity and impact of the alleged contraventions, the proposal for settlement submitted by the Settlement Applicant and the comments, objections, or suggestions received under regulation 5, a.) the Commission may pass an order in terms .....

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..... for settlement, subject to such other terms relating to manner of implementation of settlement and monitoring and close the proceedings against the Settlement Applicant forthwith. e.) if the Commission after considering the revised Settlement Application, filed under clause (c) of this sub-regulation (5), is not satisfied with the same, it shall by an order passed in terms of sub-section (5) of section 48A of the Act, reject the revised Settlement Application and proceed with its inquiry under section 26 of the Act. (6) In case the Settlement Applicant fails to submit the revised Settlement Application within the time period specified in sub-regulation (2) and clause (c) of sub-regulation (5) above, or fails to provide clarification, inform .....

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..... d 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 t .....

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