Penalty for nonfurnishing of information may be imposed on enterprises failing merger notifications or inquiry responses. The substituted section empowers the Commission to impose a penalty up to one per cent of the higher of total turnover, total assets, or transaction value where a person or enterprise fails to notify under specified subsections of section 6, contravenes the prohibition in that section, or fails to submit information for an inquiry under section 20(1); a proviso allows a thirty-day cure period to file the primary notice where a later notice is declared void ab initio, and bars penalty action during that period.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Penalty for nonfurnishing of information may be imposed on enterprises failing merger notifications or inquiry responses.
The substituted section empowers the Commission to impose a penalty up to one per cent of the higher of total turnover, total assets, or transaction value where a person or enterprise fails to notify under specified subsections of section 6, contravenes the prohibition in that section, or fails to submit information for an inquiry under section 20(1); a proviso allows a thirty-day cure period to file the primary notice where a later notice is declared void ab initio, and bars penalty action during that period.
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