On August 30, 2016, the Argentine Antitrust Commission (“CNDC”) has opened a public consultation process for its draft bill reforming its competition law.

The main characteristics of the draft bill include:

  1. Institutional framework
    • The creation of an independent agency, the National Competition Authority (the “ANC”), as a decentralized and independent agency within the sphere of the Argentine Government.
    • The ANC´s 5 members will be: a President and 4 commissioners, all of them requiring technical background and suitability. They will have 5 years-long terms and can only be removed with certain proper justification.
  1. Sanctions/Leniency
    • The implementation of new criteria for the determination of fines.
    • Calculation of Fines: up to 30% of the business volume of the affected markets, multiplied by the number of years of the duration of the conduct.
    • Limit: 10% of the economic group´s international business volume, taking into account the previous financial year.
    • Second offence: doubles the fine.
    • The creation of a Leniency Program.
  1. Pre-merger control
    • The implementation of a pre-merger control regime.
    • The update and modification of the notification thresholds and the methods used for their calculation.
    • The introduction of a fast track mechanism for certain transactions.
  1. Damages
    • It allows for damages suits as a consequence of infringements to the competition regulations.
  1. Judicial review
    • The creation of the National Antitrust Court of Appeals, which will act as the competent court in matters regarding appeals to the ANC´s decisions.

The deadline for submitting the comments is September 30, 2016.

 


________________________

To make sure you do not miss out on regular updates from the Kluwer Competition Law Blog, please subscribe here.


Kluwer Competition Law

The 2021 Future Ready Lawyer survey showed that 78% of the law firms realise the impact of transformational technologies. Kluwer Competition Law is a superior functionality with a wealth of exclusive content. The tool enables you to make more informed decisions, more quickly from every preferred location. Are you, as a competition lawyer, ready for the future?

Learn how Kluwer Competition Law can support you.

Kluwer Competition Law
This page as PDF

Leave a Reply

Your email address will not be published. Required fields are marked *