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CS Executive · Economic, Commercial and Intellectual Property Laws · Foreign Trade Policy and Procedure

Under the FTDR Act, 1992, a person who admits a contravention on notice from the Adjudicating Authority may be dealt with how?

When a person admits a contravention on notice, the Adjudicating Authority may determine a settlement amount payable by that person, in such classes of cases and manner as are prescribed. Admission does not give automatic immunity.

  1. AThe Adjudicating Authority may, in prescribed cases and manner, determine an amount to be paid by way of settlementCorrect
  2. BThe admission automatically bars any penalty or confiscation
  3. CThe matter must be referred to Parliament
  4. DThe person must surrender the IEC permanently

Explanation

Section 11(4) lets the Adjudicating Authority, on a person admitting contravention after notice, determine by way of settlement an amount to be paid, in such classes of cases and manner as may be prescribed. It does not grant automatic immunity, nor require referral to Parliament.

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