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      Question

      Consider the following statements regarding settlement

      and consent mechanism under Competition Act: Statement 1: Parties can settle Competition Act violations through agreed settlements. Statement 2: CCI must give prima facie opinion before settlement is possible. Statement 3: Settlement agreements can provide reduced penalties for admitting violations. Statement 4: Settlements are final and not subject to review after approval. Which statements are correct?
      A Statements 1 and 3 only Correct Answer Incorrect Answer
      B Statements 2 and 3 only Correct Answer Incorrect Answer
      C Statements 1, 2, and 3 only Correct Answer Incorrect Answer
      D Statements 2, 3, and 4 only Correct Answer Incorrect Answer
      E All statements are correct Correct Answer Incorrect Answer

      Solution

      Settlements are permitted—Statement 1 is correct. CCI must form prima facie opinion—Statement 2 is correct. Settlement reduces penalties—Statement 3 is correct. Settlements can be reviewed if evidence emerges—Statement 4 is incorrect. Statements 1, 2, and 3 are correct.

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