Nicaragua: New Anticompetitive Practices Leniency Program

Dentons
Contact

Dentons

On Friday, March 05, 2021, it was published in La Gaceta, Official Gazette No. 45, Regulation No. 31 of the Leniency Program applicable to Nicaragua's economic agents, issued by the National Institute for the Promotion of Competition of Nicaragua (PROCOMPETENCIA).

This regulation establishes the procedure to be followed by all economic agents to access the exemption benefit granted by Law No. 601, "Law for the Promotion of Competition." Through the Leniency Program, the participating member of a cartel will receive the benefit of being exempted from the payment of the corresponding fine for having carried out anticompetitive collusive practices with other competitors in the market.

However, the beneficiary cannot be the cartel's promoter and must provide the authority with background information proving the anticompetitive practice and those responsible for it.

The scope of application of the Regulation includes the following cases:

  1. Those commercial practices or conduct that create or give effect to contracts, agreements, and understandings containing a provision that promotes a cartel's formation and operation.
  2. Price fixing.
  3. Entry barriers.
  4. Allocation of customers, suppliers, or territories.
  5. Bid rigging and manipulation of public auctions.
  6. Predatory joint pricing.
  7. Others that could be considered collusions in light of Law No. 601.

Likewise, the Regulation establishes the requirements to obtain the Benefit of Leniency, the duties inherent to this request, and its procedure.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Dentons | Attorney Advertising

Written by:

Dentons
Contact
more
less

Dentons on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
Custom Email Digest
- hide
- hide

This website uses cookies to improve user experience, track anonymous site usage, store authorization tokens and permit sharing on social media networks. By continuing to browse this website you accept the use of cookies. Click here to read more about how we use cookies.