Question
Consider the following statements regarding penalties
under Sections 27-29 of the Competition Act, 2002: Statement 1: Penalties for Section 3 (anti-competitive agreements) can extend to 10% of average turnover. Statement 2: Penalties must be proportionate to the infringement severity. Statement 3: Repeat offences do not attract enhanced penalties under the Competition Act. Statement 4: Directors and officers can be held individually liable for corporate violations. Which statements are correct?Solution
Section 27 allows up to 10% of turnover penalty—Statement 1 is correct. Penalties must be proportionate—Statement 2 is correct. Repeat offences attract enhanced penalties—Statement 3 is incorrect. Officers can be liable under Section 48—Statement 4 is correct. Statements 1, 2, and 4 are correct.
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