The nationalization of chiles large copper companies in. Initially, it is important to note that copper is chile s primary natural resource and, by far, its principal export product. In any country, an effective competition policy is an important part of that effort. After some years with successful projects in chile, the danish smart metering provider, kamstrup, has decided to open a branch office in the country in order to develop new projects and provide an even closer service to regional customers. Conforme al tiempo dichos articulos mencionados han sido. The firm provides a broad range of legal services with areas of special strength in mergers and acquisitions, banking, bankruptcy, competition law, company, corporate and commercial law, employment, environmental, energy and natural resources, finance, insurance, intellectual property, ip it.
Nonprice effects of mergers note by chile unclassified chile 1. In pursuance of the proclamation of the fifth day of july 1977, read with the. The comptroller general of chile general accounting office is a constitutionally autonomous body of the government of chile based on chapter 10 of the constitution of chile and it is in charge of the control of the legal aspects, management, preaudit and postaudit functions of all the activities of the centralized and decentralized civil service, whatever its forms of organization may be, as. This is part of our collection of over 120 maintained national merger control guides. The constitution required the president to seek approval from cosena to impose any state of exception and gave the council authority to solicit any information it deemed necessary in national security matters from any government agency. Bulgaria merger control getting the deal through gtdt. The comptroller general of chile general accounting office is a constitutionally autonomous body of the government of chile based on chapter 10 of the constitution of chile and it is in charge of the control of the legal aspects, management, preaudit and postaudit functions of all the activities of the centralized and decentralized civil service, whatever its forms of.
Constitution amendment order, 1980, presidents order 1. It was the earliest step in the chilean struggle for independence, and the anniversary of its establishment is. Competition law and policy in argentina introduction in the past 25 years argentina has made considerable, if uneven, progress toward building a successful market economy. Argentina merger control lexispsl, practical guidance for. Gil makes the case that as of 1966 chile had had three presidential elections in the past half century that had pr oven to be turni ng points i n its his tory. Brief labor notes on mexican acquisition transactions by jaime a. Whereas, provision of decreelaws numbers 1 and 128 of 1973. Pdf democracy, dictatorship and economic performance in. Doing business in chile over the years, many foreign investors and businessmen have asked us the question. The fnes internal guidelines mention the possibility that the anticompetitive risks of a horizontal merger involve competitive variables other than price1. The estimated 2014 population numbered approximately 17. The firm provides a broad range of legal services with areas of special strength in mergers and acquisitions, banking, bankruptcy, competition law, company, corporate and commercial law, employment, environmental, energy and natural resources, finance, insurance, intellectual property, ip it, litigation, public. Introduction during the last years, there has been an increasing concern about the importance of competition policy as a mean to increase efficiency in the allocation of resources and the.
The proposed new constitution would replace the 1925 constitution, and was approved by over twothirds of voters the new constitution ensured that augusto pinochet could remain as president of the republic for a further eight years with increased powers, after which he would face a reelection. The recommendations in this report aim at the adoption of a more effective and transparent merger control regime in chile. The following order made by the president on 26th may 1980 is hereby published for general information. Jun 23, 2015 for example, the merger between cablevision and multicanal at the time, the two largest cable television companies in argentina was approved in 2007 subject to a series of noncompetition. Because chile is likely to encounter severe foreign exchange and domestic savings constraints to its development. The current constitution of chile was approved by chilean voters in a controversial plebiscite on 11 september 1980, under the military dictatorship of augusto pinochet. It was partially enacted on 11 march 1981 and has been fully effective since 11 march 1990. The effectiveness of antitrust enforcement in argentina, chile and peru during the 90. It was amended considerably on 17 august 1989 via referendum and on 22 september 2005 legislatively. The case consisted of a merger between airline companies lan from chile and tam from brazil creating the largest airline in south america, and was submitted for approval of the tdlc with the prior agreement of the fne. Tracking global merger control changes for 2017 law360.
By 1990 chile was the only country, according to the world bank, whose index of liberalization reached the maximum possible level of 20, indicating an absence of externalsector distortions. In 1999, severe drought and chile s overdependence on commodity exports such as copper, among other factors, pushed the country into recession. Part 2 identifies the main issues arising from chiles merger control system and proposes recommendations for improvement in light of the oecd analysis and existing best practices. Chile has since recovered, with a real gdp growth averaging 5. A constitutional referendum was held in chile on 11 september 1980. As a leading international firm of auditors and consultants, we first answered this question in 1923, when we opened our first office in chile. A guide to public mergers and acquisitions law in argentina. Government assembly of the kingdom of chile september 18, 1810 july 4, 1811, also known as the first government junta, was the organization established to rule chile following the deposition and imprisonment of king ferdinand vii by napoleon bonaparte. Merger control triggers and thresholds in chile lexology. Today chile is the third largest copper producer in the world, behind the united states and zambia, and ranks. Harvard university collection development department, widener library, hcl chile.
Merger control constitutes an essential component of an effective competition system. Despite strong economic growth, chile remains a highly unequal society in terms of income, wealth and education. Doing business in chile aug 2011 deloitte united states. Inequality is passed from one generation to the next, reducing opportunities to. Constitution amendment order, 1980 presidents order 1 of 1980 gazette of pakistan, extraordinary, part 1, 27th may, 1980 no. The process of assessing the competitive effects of concentrations between competitors in chile has evolved significantly over the last decade, moving from a voluntary premerger control system to what can effectively be considered a semimandatory premerger control system when the level of industry concentration is high. Chile was owned and operated exclusively by north american mining companies, while the states earnings from its copper resources were derived almost entirely from taxes levied on the north american owners of the large mines. As a consequence of this conspicuous financial dependence on the foreigncontrolled copper industry, chiles. Decree 3465 of august 8, 1980, interior ministry of chile. The document also included thirtyfour transitional articles applying to the transitional period from march 11, 1980, to march 11, 1990. The effectiveness of antitrust enforcement in argentina. Provisions in cooperation agreements on competition, 2014.
Jurisdictional nexus in merger control regimes, 2016. The 1980 constitution also gave cosena significant powers of authorization and nomination. Chiles constitution of 1980 with amendments through 2012. Mexican business law 183 as a separate legal entity without the execution of any writing and without any sort of entry upon the public records. Convenio sobre responsabilidad internacional por danos. A uniform import tax varying between 10 percent and 35 percent took effect, and, until 1980, real exchangerate overvaluation generally was avoided.
It was amended considerably on 17 august 1989 via referendum and on 22 september 2005 legislatively, and also in 1991, 1994, 1997. Paula margaretic, maria fernanda martinez and diego petrecolla 1. The constitutional document imposed by the regime in 1980 consisted of 120 permanent articles, which went into full effect after the transition to constitutional government. Corporate counsel are generally aware of the importance of a full and detailed due diligence process before an acquisition transaction is closed. An economic memorandum september 24, 1984 latin america and the caribbean regional office.
The proposed new constitution would replace the 1925 constitution, and was approved by over twothirds of voters the new constitution ensured that augusto pinochet could remain as president of the republic for a further eight years with increased powers, after which he would face a reelection referendum. Chile constitution of the republic of chile santiago, october 21st. Constitution amendment order, 1980, presidents order 1 of. Public interest considerations in merger control, 2016. Labor matters, jointly with all other areas commonly address in a due diligence process, are important in every country. In most cases, the merger analysis does not require giving special treatment to.
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