TaxTMI 
TaxTMI 
Competition Commission of India (Lesser Penalty) Amendment Regulations, 2017
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....d commencement.- (1) These regulations may be called the Competition Commission of India (Lesser Penalty) Amendment Regulations, 2017. (2) They shall come into force on the date of their publication in the Official Gazette. 2. In the Competition Commission of India (Lesser Penalty) Regulations, 2009,- (1) in regulation 2,- (a) in sub-regulation (1),- (i) for clause (b), the following clause shall be substituted, namely:- '(b) "applicant" means an enterprise, as defined in clause (h) of section 2 of the Act, who is or was a member of a cartel and includes an individual who has been involved in the cartel on behalf of an enterprise, and submits an application for lesser penalty to the Commission; '; (ii) after clause (g), the foll....
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....applicant and individual mentioned in sub-regulation (1A) of regulation 3 may be granted benefit of reduction in penalty upto or equal to one hundred percent, if the applicant is the first to make a vital disclosure by submitting evidence of a cartel, enabling the Commission to form a prima-facie opinion regarding the existence of a cartel which is alleged to have contravened the provisions of section 3 of the Act and the Commission did not, at the time of application, have sufficient evidence to form such an opinion: Provided that the Commission may also grant benefit of reduction in penalty up to or equal to one hundred per cent, to the applicant and individual mentioned in sub-regulation (1A) of regulation 3, if the applicant is the fi....
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.... of regulation 3 marked as third or subsequent in the priority status may be granted reduction of penalty up to or equal to thirty percent of the full penalty leviable. "; (4) in regulation 5,- (a) in sub-regulation (1), for the words, "within three working days", the words "within five working days" shall be substituted; (b) in sub-regulation (4), for the words, "within a period of fifteen days of the first contact", the words, brackets and figures "within a period of fifteen days from the date of communication of direction under sub-regulation (2)" shall be substituted; (5) for regulation 6, the following regulation shall be substituted, namely:- "6. Confidentiality.-Notwithstanding anything contained in the Competition Commissio....