House Approves New Competition Law Bill

On November 22 the House of Representatives passed a bill approving a new competition law in Argentina (the "Bill"), set to replace Law 25,156 of 1999.

The Bill was referred on November 27 to the Senate, where it is expected to be approved soon. Once passed, the Executive will need to regulate the law within 60 business days. The launch of the public process to select the members of the new competition agency is set to commence within 30 business days of the enactment of the regulation.

The Bill will introduce sweeping changes in the current competition law regime in Argentina, among which we highlight the following:

NEW AGENCY AND SPECIALIZED COURT

• A new independent agency, the Autoridad Nacional de Competencia (National Competition Authority, or "ANAC") will be created.