Section Text
1[In section 27 of the principal Act,--
(i) in clause (b), for the proviso, the following proviso shall be substituted, namely:--
"Provided that in case any agreement referred to in section 3 has been entered into by a cartel, the Commission may impose upon each producer, seller, distributor, trader or service provider included in that cartel, a penalty of up to three times of its profit for each year of the continuance of such agreement or ten per cent, of its turnover for each year of the continuance of such agreement, whichever is higher.";
(ii) clauses (c) and (f) shall be omitted;
(iii) in clause (g), for the word "order", the words "order or issue such directions" shall be substituted;
(iv) after clause (g), the following proviso shall be inserted, namely:--
"Provided that while passing orders under this section, if the Commission comes to a finding, that an enterprise in contravention to section 3 or section 4 of the Act is a member of a group as defined in clause (b) of the Explanation to section 5 of the Act, and other members of such a group are also responsible for, or have contributed to, such a contravention, then it may pass orders, under this section, against such members of the group."]
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1. Effective date 20th May 2009- notified vide Ministry of Corporate Affairs Notification No S.O.1242(E) dated 15.05.2009.