Question
As per the Competition Act, the Commission also has the
power to impose a fine which may extend to _________of the total turnover or the assets of the combination, whichever is higher, for failure to give notice to the Commission of the combination.Solution
Section 43A. Power to impose penalty for non-furnishing of information on combinations—If any person or enterprise who fails to give notice to the Commission, the Commission shall impose on such person or enterprise a penalty which may extend to one per cent. of the total turnover or the assets, whichever is higher, of such a combination.
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