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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However, only when there is a horizontal overlap might there be an interest by the authority to proceed with an investigation. If you have authored this item and are not yet registered with RePEc, we encourage you to do it here.
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.
Venezuela: la ley antimonopolio – CNN Video
However, prior notification does not prevent consummation of the antimoonopolio. In the case of voluntary filing, third parties may become parties in the proceedings and may oppose the transaction.
Conversely, any operation that does not meet the threshold may not be subject to review by the Superintendency.
Next Back to top Back to question list. The Superintendency generally meets some of the parties seeking to merge to clarify certain issues relating to the market and the filing.
Some of the most important are:. If local issues arise from a foreign-to-foreign antimlnopolio, a solution may be to submit the transaction to the Superintendency for prior review to determine whether the transaction can be considered anti-competitive. Transactions that are subject to merger control include any: Such measures include dissolution of the transaction, divestiture, or the imposition of fines of up to 20 per cent of the gross sales of the offending party for the previous year.
Venezuela: la ley antimonopolio
Such information includes identification of the parties and its subsidiaries and affiliates, identification of directors and managers of such entities, details of the transaction including financial and economic aspectsdetails of the markets in which the parties are competitors and market access, information about the products and industrial processes involved prices, raw materialsinformation on market shares, barriers to entry and form of competition.
Is there a simplified notification procedure with accelerated review periods? In this case, the Superintendency must notify the parties, veneauela have 15 business days that may be extended for 15 additional days to present evidences and arguments.
How are they enforced? 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 notification and its contents are normally not publicised. It is always up to the parties to decide whether to file a voluntary notification. There antinonopolio no de minimis requirements for filing.
There have been no cases of foreign-to-foreign mergers being opposed by the Superintendency. What type of transactions qualify?
What weight, based on your experience, does the authority give to the information provided? In case of a vertical merger, it will evaluate the effects on each market.
The Superintendency must determine whether the transaction may affect competition in the relevant market. Normally, the Superintendency sends questionnaires to companies active in the market in which the merger is taking place competitors, suppliers and clients to gain an understanding of the working of that market. Transactions that are subject to merger control include any:.
What is the legislation applicable to merger control and how long has merger control legislation been in force?
How long does it take to prepare a filing? Can third parties appeal clearance decisions, and has this ever happened successfully? The Venezuelan Capital Markets Law provides that any person antimonnopolio to commence a tender offer of a listed company shall notify its intention to the Venezuelan Securities Authority.
Venezuela – Reference – Latin Lawyer
How does that work in practice and what are the risks of submitting a formal notification without this step? Pre-notification contacts are informal and there is no standard procedure to follow. Where there is an obligation not to close the transaction pending review, is there any alternative available to allow closing before formal clearance? GB Help us Corrections Found an error or omission? General contact details of provider: Although interested parties may request confidentiality to certain information applicable to other parties of the proceeding, such confidentiality is rarely granted.
When requesting a correction, please mention this item’s handle: Download full text from publisher File URL: Whom do they consult?