The Competition Commission of India (Manner of Recovery of Monetary Penalty) Amendment Regulations, 2014.

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NOTIFICATION New Delhi, the 25th June, 2014 The Competition Commission of India (Manner of Recovery of Monetary Penalty) Amendment Regulations, 2014 No. R-40007/Reg-Recovery/Noti/04-CCI.—In exercise of the powers conferred by Section 64 of the Competition Act, 2002 (12 of 2003), the Competition Commission of India hereby makes the following regulations Competition Commission of India (Manner of Recovery of Monetary Penalty) Amendment Regulations, 2014 to amend the Competition Commission of India (Manner of Recovery of Monetary Penalty) Regulations, 2011, namely :—

1. Short title and commencement.—(1) These regulations may be called the Competition Commission of India (Manner of Recovery of Monetary Penalty) Amendment Regulations, 2014.

(2) They shall come into force on the date of their publication in the Official Gazette.

2. In the Competition Commission of India (Manner of Recovery of Monetary Penalty) Regulations, 2011, in Form I, for the paragraph, “In case you fail to deposit the entire demand imposed by the Commission within the aforesaid period, the Commission shall take any action as it deems necessary in accordance with law”, the following paragraphs shall be substituted, namely :— “In case you fail to deposit the penalty amount, i.e……….. (Rupees …….Only) within the aforesaid period, you shall be liable to pay simple interest @ 1.5% for every month or part of a month comprised in the period commencing from the date immediately after the expiry of the period mentioned in this demand notice and ending with the date on which the demand is paid.

Further, the Commission shall also take necessary steps for recovery of the sum so due besides initiating actions for non-compliance of the order(s) of the Commission”.

SMITA JHINGRAN, Secy. [ADVT. III/4/Exty./187-M/14]

Note : Principal Regulations published vide Notification No. F. No. R-40007/Reg-Recovery/Noti/ 04-CCI in the Gazette of India, Extraordinary, Part III, Section 4, dated the 8th February, 2011.

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