Monday, October 1, 2007
Posted by D. Daniel Sokol
I missed it earlier this summer but Uruguay has entered the club of Latin American countries with a complete and systematic competition law. Uruguay's Parliament enacted Law Number 18,159, "Law of Promotion and Defense of Competition", on July 10, 2007. The competition law covers: substantial issues (definitions, prohibition of anticompetitive practices and abuse of dominant position, merger control and sanctions), powers and competence of the competition authority and general rules for the proceedings.
The law repeals previous rules (articles 13, 14 and 15 of the Law 17.243 of 2000 and articles 157 and 158 of the Law 17.296 of 2001) which were not enforced effectively.
Hat tip to Juan David Gutierrez Rodriguez.