Competition Act 43AChapter VI · Penalties
Section 43A · Power to impose penalty for non-furnishing of information on combinations
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1[43A. Power to impose penalty for non-furnishing of information on combinations.--If any
person or enterprise fails to give notice to the Commission under sub-section (2) or sub-section (4) of
section 6 or contravenes sub-section (2A) of section 6 or submit information pursuant to an inquiry under
sub-section (1) of section 20, the Commission may impose on such person or enterprise, a penalty which
may extend to one per cent., of the total turnover or assets or the value of transaction referred to in clause
(d) of section 5, whichever is higher, of such a combination:
Provided that in case any person or enterprise has given a notice under sub-section (4) of section 6 and such notice is found to be void ab initio under sub-section (6) of section 6, then a notice under sub-section (2) of section 6 may be given by the acquirer or parties to the combination, as may be applicable, within a period of thirty days of the order of the Commission under sub-section (6) of that section and no action under this section shall be taken by the Commission till the expiry of such period of thirty days.]
Provided that in case any person or enterprise has given a notice under sub-section (4) of section 6 and such notice is found to be void ab initio under sub-section (6) of section 6, then a notice under sub-section (2) of section 6 may be given by the acquirer or parties to the combination, as may be applicable, within a period of thirty days of the order of the Commission under sub-section (6) of that section and no action under this section shall be taken by the Commission till the expiry of such period of thirty days.]
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