Settlement mechanism: establishes procedural filing, timelines, and a discounted penalty framework for resolving competition law allegations. Regulations create a procedural framework for settlement of inquiries under section 26(1) for alleged violations of section 3(4) or section 4, requiring a detailed Settlement Application with disclosures, settlement proposals, undertakings as per Schedule I, and prescribed non refundable fees; a complete application is considered within set timelines, during which the inquiry is kept in abeyance, the Commission computes a Settlement Amount (base guided by Penalty Guidelines with a 15% settlement discount), and the applicant must accept and pay within prescribed periods or face rejection and resumption of the inquiry.
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Settlement mechanism: establishes procedural filing, timelines, and a discounted penalty framework for resolving competition law allegations.
Regulations create a procedural framework for settlement of inquiries under section 26(1) for alleged violations of section 3(4) or section 4, requiring a detailed Settlement Application with disclosures, settlement proposals, undertakings as per Schedule I, and prescribed non refundable fees; a complete application is considered within set timelines, during which the inquiry is kept in abeyance, the Commission computes a Settlement Amount (base guided by Penalty Guidelines with a 15% settlement discount), and the applicant must accept and pay within prescribed periods or face rejection and resumption of the inquiry.
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