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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The Superintendency generally meets some of the parties seeking to merge to clarify certain issues relating to the market and the filing.
Collective dominance is not analysed in merger cases. Is there a pre-notification requirement or custom whereby a draft notification is submitted first to the authority for comments and questions to be addressed antimonopoli formal notification is made? Therefore, the lack of notification would not constitute a violation of the Venezuelan Competition Law and there are no penalties for not filing.
Venezuela: la ley antimonopolio
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Any transaction may be reviewed by the Superintendency, even conglomerate transactions. What type of information is generally required?
The review process, confidentiality and the role or influence of third parties As a matter of practice, how do the authorities investigate a transaction? Where change in control is part of the test, what is the standard for defining control and changes thereof for pre-merger notification purposes?
Download full text from publisher File URL: 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.
The review and decisions should be based on competition grounds alone. Courts may review the substance of the merger analysis, including whether a rejection of remedies offered by the parties was correct.
Logged in as Log in You are currently accessing Latin Lawyer via your firmwide account. As explained above, in Venezuela filing is voluntary. Are parties that are required to file notification of a transaction pre-closing obliged not to close their transaction pending regulatory review?
Although an independent administrative agency, the Superintendency depends on the Ministry of Antimonppolio.
Venezuela: la ley antimonopolio – CNN Video
All information filed by the parties to the Superintendency is in principle confidential. Economic efficiencies are also taken into consideration by the Superintendency.
The Superintendency must determine whether the transaction may affect competition in the relevant market. Administrative court decisions can be appealed to the political and administrative chamber of the Supreme Tribunal of Justice.
However, if the threshold is met, the Superintendency may open a proceeding to investigate the impact of any transaction on competition in the Venezuelan market within five years of the closing of the transaction.
The investigation of lfy transaction that raises competition concerns may last between six months and one year. Previous Back to top Back to question list.
Once the evidence period is expired, the Superintendency should decide within 30 business days, which may be extended for two months.
E-mail our Co-Publishing Manager. Are there filing fees?
With the notification, the person intending to commence benezuela tender offer must inform the Securities Commission of the effects of the transaction on competition, according to the Competition Law. Transactions that are subject to merger control include any:. See general information about how to correct material in RePEc. However, prior notification does not prevent consummation of the transaction.
What are the risks if the parties do not file, if the transaction is closed before clearance or if notification is untimely? Pursuant to the Telecom Law, the transaction will only be effective after authorisation by Conatel is obtained.
When requesting a correction, please mention this item’s handle: Normally the authority is not open about its concerns xntimonopolio a transaction until a final decision is issued. However, there is no official information about the number of cases. Is there a standard form?
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