Ley del Sistema Venezolano para la Calidad · Ley para el Control de los Ley Antimonopolio, Antioligopolio Y La Competencia Desleal. Competition is more commonly known as the ‘Ley Anti-Monopolio’. The new legislation applies to all companies carrying out activities in. Venezuela, including. Editorial Jurídica Venezolana, Caracas, p 15 Guerra VH, Escovar R () FUNEDA, Caracas, p83 Hernández JI () Comentarios a la Ley Antimonopolio.
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Can third parties appeal clearance decisions, and has this ever happened successfully? Otherwise, the approval is considered denied.
Venezuela: la ley antimonopolio
Once the evidence period is expired, the Superintendency should decide within 30 business days, which may be extended for two months. Pre-notifications meetings are not common. Specific rules apply to the calculation of turnover in the cases of partial acquisitions, companies with joint subsidiaries and mergers of insurance companies. Transactions that are subject to merger control include any: Help us Corrections Found an error or omission?
Recently during the past five years the Superintendency has only prohibited one transaction: Is this practice useful? Logged in as Log in You are currently accessing Latin Lawyer via your firmwide account. Antimonoploio review and pey should be based on competition grounds alone.
If the person intending to commence the tender offer directly or indirectly competes with the target, it must inform whether the transaction has obtained clearance by the Superintendency or, if the transaction was not notified, the reasons for the lack of notification.
Applicable legislation and the competent authorities 1. In a transaction that appears to raise competitive concerns, is it recommended to consult the authority prior to filing and, if so, why? What sanctions can be imposed and on whom?
Is there a standard form? The economic group would be comprised of companies controlled by the parties in Venezuela or companies in Venezuela that exercise control over the parties. According to the Merger Guidelines, there are several aspects to consider in determining whether a transaction is anti-competitive.
Conversely, any operation that does not meet the threshold may not be subject to review by the Superintendency. Mergers or acquisitions concluded by foreign entities outside Venezuela that may have an impact on competition in the Venezuelan market may be reviewed by the Superintendency.
Where there is an obligation not to close the transaction pending review, is there any alternative available to allow closing before formal clearance? The Superintendency must determine whether the transaction may affect competition in the relevant market.
However, only when there is a horizontal overlap might there be an interest by the authority to proceed with an investigation.
Pursuant to the Telecom Law, the transaction will only be effective after authorisation by Conatel is obtained. Nevertheless, the Superintendency does not consider economic efficiency a sufficient reason to approve a merger, if the concentration level increases significantly and the entry barriers are high. You can help correct errors and omissions. It is possible to file a request for guidance on notifications requirements to the legal department of the Superintendency. Must the authority seek a waiver from the transaction parties to disclose confidential information submitted in their filing?
All parties to a transaction must file the notification separately. Whom do they consult? Any transaction may be reviewed by the Superintendency, even conglomerate transactions.
If the transaction breaches the competition rules, the Superintendency may order the divestiture or the selling of part of the assets and even the dissolution of the merger. Normally the opinions and information from government authorities are crucial for the evaluation. How does that work in practice and what are the risks of submitting a formal notification without this step? If a transaction is not notified and then an investigation is opened, the Superintendency may impose certain obligations on the parties including remedies and divestitures and fines of up to 20 per cent of gross sales.
Transactions that are subject to merger control include any:. Are there post-clearance obligations imposed on the parties for a clearance decision to remain valid? Economic efficiencies are also taken into consideration by the Superintendency. Is there any additional sector- or industry-specific merger regulation legislation? What type of information is generally required? Collective dominance is not analysed in merger cases.
Legislation Venezuela (Lexadin)
When must notification be made with respect to acquisitions of convertible non-voting securities or options? However, if one party sn not have presence anti,onopolio Venezuela whatsoever, it may be advisable to avoid notification.
There are no recent precedents on efficiencies by the Superintendency. If you would like to login via a personal account, please use the link below. However, after the decision is rendered, the Superintendency publishes a public version on its website.
Venezuela: la ley antimonopolio – CNN Video
Is notification and its content publicised? Has this ever happened? To what extent are economic efficiencies and non-competition issues taken into account in the review process? Wn rights do third parties such as competitors, suppliers or customers have to intervene and participate in the investigation process, including rights to access the investigation file? Can the authority be consulted on a no-names basis for guidance on notification requirements?