https://www.taxtmi.com/acts?id=41668 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. en-us Thu, 20 Apr 2023 11:36:47 +0530 Fri, 08 Mar 2024 15:23:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=41668 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. Act-Rules F. Acts / Amendment Acts Thu, 20 Apr 2023 11:36:47 +0530 https://www.taxtmi.com/acts?id=41668