Competition Act, 1991
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Notification of agreements, decisions and concerted practices to Authority. |
7.—(1) Every agreement, decision and concerted practice of a kind described in section 4 (1) which comes into existence after the commencement of that section in respect of which the parties thereto request a licence under section 4 (2) or a certificate under section 4 (4) of that section shall be notified to the Authority. | |
(2) Every agreement, decision and concerted practice of a kind described in section 4 (1) which is in existence at the commencement of that section and in respect of which the parties seek a licence under section 4 (2) or a certificate under section 4 (4) shall be notified to the Authority within one year of such commencement. | ||
(3) A licence under section 4 (2) or a certificate under section 4 (4) shall not be granted until the agreement, decision or concerted practice (as the case may be) has been notified to the Authority but any such licence may in the case of an agreement, decision or concerted practice to which subsection (1) applies be made retrospective to the date of notification under that subsection. | ||
(4) A notification in accordance with this section shall be accompanied by such fee as may be prescribed. | ||
(5) For the purpose of the exercise of its functions in relation to licences under section 4 (2) and certificates under section 4 (4) the Authority may accept such observations or submissions from persons claiming to be interested as it may think proper. | ||
(6) The functions of the Authority under this Act shall be carried out in accordance with such procedures, if any, as may be prescribed. |