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of <h1>Individuals Liable for Company Violations Under Section 48 of Competition Act Face Penalties; Due Diligence Defense Available</h1> Section 48 of the Competition Act, 2002 addresses contraventions by companies. If a company violates provisions of the Act, individuals responsible for the company's business conduct at the time of the violation are also deemed in contravention and may face penalties up to 10% of the company's average income over the past three years. If the violation involves a cartel agreement, penalties may be imposed for each year the agreement continues. Individuals can avoid penalties by proving lack of knowledge or due diligence. Directors or officers involved through consent, connivance, or neglect may also face penalties.
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