Corporate liability for antitrust contraventions: penalties, settlement and commitment procedures enable the regulator to impose fines and revoke orders. Substituted section 48 imposes corporate liability where a company and responsible persons are deemed in contravention, permitting the Commission to impose penalties up to ten per cent of average income (or annually for cartel continuance), subject to a due-diligence defence; section 48A establishes a settlement procedure allowing enterprises under inquiry to apply for settlement with Commission consideration and no appeal to section 53B, with settlement amounts credited to the Consolidated Fund; section 48B provides a commitment mechanism post-order but prior to the Director General's report; section 48C allows revocation of settlement or commitment orders for non-compliance or nondisclosure and restoration of inquiry with recoverable legal costs.
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Provisions expressly mentioned in the judgment/order text.
Corporate liability for antitrust contraventions: penalties, settlement and commitment procedures enable the regulator to impose fines and revoke orders.
Substituted section 48 imposes corporate liability where a company and responsible persons are deemed in contravention, permitting the Commission to impose penalties up to ten per cent of average income (or annually for cartel continuance), subject to a due-diligence defence; section 48A establishes a settlement procedure allowing enterprises under inquiry to apply for settlement with Commission consideration and no appeal to section 53B, with settlement amounts credited to the Consolidated Fund; section 48B provides a commitment mechanism post-order but prior to the Director General's report; section 48C allows revocation of settlement or commitment orders for non-compliance or nondisclosure and restoration of inquiry with recoverable legal costs.
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