Penalty for failing to furnish merger information may be imposed, assessed against the higher of turnover, assets or transaction value.

Where a person or enterprise fails to notify the Commission as required, contravenes filing obligations, or fails to submit information in response to a Commission inquiry, the Commission may impose a penalty on that person or enterprise calculated by reference to the combination and based on the higher of total turnover, assets or the value of the transaction. A proviso permits parties to file a mandatory notice within thirty days where a prior voluntary notice is declared void ab initio, during which the Commission will not initiate penalty action.

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