Are antitrust issues regulated by any law or decree in Chile?
- Chile
- 12/01/2000
- Prieto y Cía
Antitrust issues in Chile are regulated by Decree Law nº 211 of 1973. This rule covers diverse regulatory matters, such as: a general description of what constitutes an antitrust law offence, the creation of diverse institutions responsible for supervising and enforcing compliance with the Antitrust Law; and the creation of judicial procedures to be followed in the prosecution of antitrust offenders.
Article 2 of the Decree Law n° 211 contains a general provision of what must be understood as an Antitrust infringement, as follows:
“ The execution or celebration, individually or jointly, of any act, convention or contract that tends to impede the free market in national economical activities, including domestic and international trade activities, will be sanctioned ….”
As is clear, the description used by in Antitrust Act is generic, which means that a broad spectrum of activities may be included and sanctioned under the provisions of this Decree.
