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?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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