Settlement Commission settlement regime permits disclosure based resolution of customs duty liability with conditional immunity and recovery terms.

A new Chapter establishes a statutory settlement regime under the Settlement Commission allowing applicants to seek settlement of customs duty proceedings by full disclosure of undisclosed duty liability, subject to prescribed form, fees and eligibility conditions. The Commission admits or rejects applications after receiving a Commissioner's report, directs payment or security, may order further investigation, and after hearing may pass a binding settlement order fixing duty, penalty, interest and payment terms; orders are conclusive but voidable for fraud and includable in recovery processes. The Commission may provisionally attach property, reopen completed proceedings with applicant concurrence, grant or withdraw conditional immunity, and return cases to the proper officer where cooperation is lacking.

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