The New Law on Prior Control of Business Concentration Operations is published
On January 7, 2021, Law No. 31112, “Law that establishes prior control of business concentration operations” (the “Law“) was published in the Official Gazette “El Peruano”, which was adopted at the insistence of the Congress of the Republic of Peru on December 30, 2020.
The Law shall enter into force within a maximum period of 45 calendar days from its publication, as follows: (i) within 15 calendar days from its publication, the Regulations to the Law (the “Regulations“) shall be issued; (ii) within 15 calendar days as from the publication of the Regulations, amendments to the Regulations to the Law on the Organization and Functions of INDECOPI and other management instruments of such entity shall be issued; and (iii) 15 calendar days after the regulatory adaptation indicated in the preceding paragraph, the Law shall enter into force.
With the entry into force of the Law, the following regulations shall be repealed: (i) Emergency Decree No. 013-2019, “Emergency Decree Establishing the Prior Control of Business Concentration Operations” (the “DU 013-2019“); (ii) Legislative Decree No. 1510, which amended the DU 013-2019 and postponed its entry into force; and (iii) Law No. 26876, “Anti-Monopoly and Anti-Oligopoly Law of the Electric Sector”, with the exception of its Article 13, which amended Decree Law No. 25844, without prejudice to its application to prior control procedures in the electricity sector that are being processed because they were initiated prior to the entry into force of the Law.
For further information, please contact Verónica Sattler (vsattler@estudiorodrigo.com) and/or Ítalo Carrano (icarrano@estudiorodrigo.com).
