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 Venezuelan competition rules veneuzela mergers are contained in: Download full text from publisher File URL: In this case, the Superintendency must notify the parties, which have 15 business days that may be extended for 15 additional days to present evidences and arguments.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. What thresholds apply for determining whether a transaction must be notified? No decision on merger control has been appealed or overruled by the courts during the past five years.
Venezuela – Reference – Latin Lawyer
Also, requests of information are sent to government authorities that may have authority over aspects of the markets affected by the transaction. Next Back to top Back to question list. We have no references anhimonopolio this item. How can parties productively participate in the evaluation and decision processes? If you would like to login via a personal ely, please use the link below. Please note that corrections may take a couple of weeks to filter through the various RePEc services.
The Superintendency defines the relevant market affected by the transaction and the levels of concentration.
How does that work in practice and what are the risks of submitting a formal notification without this step? The decision was not appealed by the parties.
Is antimonoploio a triggering event that requires a filing to be made within a specified period? The amount is calculated by adding the sales revenues for the last financial year of the parties of the merger, before deducting sales, discounts, value added tax and other taxes directly related to the business. What is the highest fine imposed to date for failure to file or gun-jumping? This allows to link your profile to this item. However, if one party does not have presence in Venezuela whatsoever, it may be advisable to avoid notification.
Explain whether these acquisitions must be notified at time of acquisition or before actual exercise or conversion. What type of transactions qualify? Help us Corrections Found an error or omission? Specific rules apply to the calculation of turnover in the cases of partial acquisitions, companies with joint subsidiaries and mergers of insurance companies. How are they enforced? Under the Venezuelan Competition Law, filing is not mandatory.
There are no recent precedents on efficiencies by the Superintendency. 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.
Is there a standard form? If a transaction is not notified, the Superintendency may open an investigation after the closing if it deems that such transaction may affect competition in Venezuela. There have been no cases of foreign-to-foreign mergers being opposed by the Superintendency. Is this practice useful? The parties are bound by the Superintendency’s decision.
Venezuela: la ley antimonopolio – CNN Video
The Superintendency must determine whether the transaction may affect competition in the relevant market. However, third parties admitted as parties to a merger proceeding may review and copy such information. Voluntary notifications should be evaluated within four months of the date of filing, although the period may be extended for two more months.
Corrections All material on this site has been provided by the respective publishers and authors. Regardless of the circumstances, the threshold is relatively low and there is no existing jurisprudence concerning cases in which the Superintendency has initiated antimknopolio review of transactions which fall below the threshold.
Are there published guidelines for merger analysis?
Venezuela: la ley antimonopolio
For purposes of calculating the thresholds, the authority takes into account the revenues of all companies belonging to the same economic group of the parties in Venezuela. 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 before formal notification is made?
Courts may review the substance of the merger analysis, including whether a rejection of remedies offered by the parties was correct. 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. There are no de minimis requirements for filing.
According to the Merger Guidelines, there are several aspects to consider in determining whether a transaction is anti-competitive.
Any transaction may be reviewed by the Superintendency, even conglomerate transactions.