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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Transactions that are subject to merger control include any:.
Conatel should decide on the approval of the transaction within four months, which may be extended for two additional months. In one specific case, the Superintendency prohibited a transaction without horizontal or vertical overlaps, and no dominant position was created however, it was a particular case and the precedent has not been used in other cases.
What are the investigative powers of the authority? Is there a vehicle for reconsideration by the authority of its decision? Third parties ie, competitors may request the opening of an investigation after closing. Are there post-clearance obligations imposed on the parties for a clearance decision to remain valid? There must be a local nexus, such as presence as a branch office or subsidiary or assets in Venezuela for the merger control regime to apply.
Venezuela: la ley antimonopolio – CNN Video
Economic efficiencies are ly taken into consideration by the Superintendency. All information filed by the parties to the Superintendency is in principle confidential. Since filing is voluntary, there is no triggering event to file the notification.
There have been no cases of foreign-to-foreign mergers being opposed by the Superintendency. With the notification, the person intending to commence the tender offer must inform the Securities Commission of the effects of the transaction on competition, according to the Competition Law.
Identify the last three times merger control legislation was used to prohibit a transaction, and for each, provide the ultimate outcome.
Are parties that are required to file notification of a transaction pre-closing obliged not to close their transaction pending regulatory review? The authority in charge of merger control in Venezuela is the Antimonopoly Superintendency. Are there agreements in place to exchange information with foreign antimonopoljo authorities?
As a matter of practice, how do the authorities investigate a transaction?
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Explain whether these acquisitions must be notified at time of acquisition or before actual exercise or conversion. More about this item Statistics Access and download statistics Corrections All material on this site has been provided by the respective publishers and authors. How does that work in practice and what are the risks of submitting a formal notification without this step?
Such measures include dissolution of the transaction, divestiture, or the imposition antimonopolioo fines of up to 20 per cent of the gross sales of the offending party for the previous year. Courts may antimohopolio the substance of the merger analysis, including whether a rejection of remedies offered by the parties was correct. Prior voluntary notification does not prevent consummation of the transaction. Where there is an obligation not to close the transaction pending review, is there any alternative available to allow closing before formal clearance?
Antimobopolio if the parties agree to comply with the recommendations may the transaction be completed. Notification procedure, timing and penalties for non-compliance When requesting a correction, please mention this item’s handle: In what lsy must transactions between foreign xntimonopolio be notified? 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 antimonopokio.
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If during the investigation the Superintendency finds that there is evidence of possible restrictive effects on competition arising from the transaction, the Superintendency may open a formal process. What are the risks if the parties do not file, if the transaction is closed before clearance or anyimonopolio notification is untimely? See general information about how to correct material in RePEc.
The Competition Law defines control as decisive influence over benezuela activities of a company. Also, requests of information are sent to government authorities that may have authority over aspects of the markets affected by the transaction.
Venezuela: la ley antimonopolio
Normally the authority is not open about its concerns over a transaction until a final decision is issued. However, if one party does not have presence in Venezuela whatsoever, it may be advisable to avoid notification.
If no filing is made, the Superintendency may open an investigation on the transaction within five years antjmonopolio consummation. Is there antimonlpolio standard form? Otherwise, the approval is considered denied. In a transaction that appears to raise competitive concerns, is it recommended to consult the authority prior to filing and, if so, why?
All parties to a transaction must file the notification separately. The Superintendency must determine whether the transaction may affect competition in the relevant market. Transactions that do not imply gaining control over another entity are not subject to the Merger Regulation.
Voluntary notifications should be evaluated within four months of the date of filing, although the period may be extended for two more months. However, after closing, the Superintendency may open ex officio or at the request of third parties an investigation to determine whether a merger thata was not notified may have restrictive effects on competition.
Normally the authority requests information from the parties, competitors, suppliers and customers. Once the evidence period is expired, the Superintendency should decide within 30 business days, which may be extended for two months.
How long does it take to prepare a filing?