Competition Commission of India (Lesser Penalty) Regulations, 2024 - L-3(4)/Reg-L.P./2023-24 - Competition Law

Lesser penalty: reduction in penalties for applicants who provide vital cartel disclosures, subject to conditions and priority status.

These regulations prescribe the procedure and conditions for grant of lesser penalty and lesser penalty plus under section 46 of the Act: applicants must cease cartel participation, make full and true vital disclosures, provide all relevant evidence and identify involved individuals; the designated authority records and forwards applications to the Commission, which marks priority status and evaluates applications in order; a first vital disclosure enabling a prima facie opinion may attract full reduction, subsequent disclosures that add significant value may attract graduated reductions, and lesser penalty plus can secure additional reduction for prior marker applicants who disclose another distinct cartel. Confidentiality, inspection, withdrawal and transitional provisions are also specified.