Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 21 FEBRUARY 2017

Annual Reporting Requirements For Onerous Use Concession Agreements

Carey
Carey
Contributor
Carey

Carey

Carey is Chile’s largest law firm, with more than 280 legal professionals providing comprehensive...

View firm profile
Explore more from Carey

In the Onerous Use Concession Agreements ("CUO") entered into with the Ministry of National Assets ("MNA"), there is an obligation to annually submit to the latter a "sworn statement of use"...

ChileGovernment, Public Sector
Juan Mackenna
Juan Mackenna
José Miguel Bustamante
José Miguel Bustamante
Sophia Bobadilla
Sophia Bobadilla

In the Onerous Use Concession Agreements ("CUO") entered into with the Ministry of National Assets ("MNA"), there is an obligation to annually submit to the latter a "sworn statement of use", as stated in the CUO proforma provided by the MNA in its Ministerial Order N°6 dated August 28, 2013, in its "SIXTEENTH CLAUSE: OTHER OBLIGATIONS OF THE CONCESSIONAIRE Sixteen.Three".

Although according to the text of the proforma, the breach of said obligation may result in fines of up to 1,000 UF (39,100 USD approximately), the collection of the guarantees and even the early termination of the CUO, the generality of concessionaires currently do not comply with their annual obligation.

A lawyer in the Legal Division of the MNA, indicated that many concessionaires are currently in default of said obligation, and in order to remedy these violations, it is recommended that concessionaires submit a sworn statement of use for the current year along with a letter (i) explaining the

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

See more popular content from

Article

Congress Approves And Passes The Tax Reform Bill

Chile's Congress has approved a comprehensive Tax Reform Bill featuring a gradual reduction of the Corporate Income Tax rate to 23%, full tax system integration, and new tax invariability regimes for investors. The reform introduces significant changes including preferential rates for foreign capital disclosure, elimination of capital gains tax on publicly traded shares, and temporary reductions in gift taxes for family transfers.
ChileTax
Carey
Carey
Article

Government Submits Bill Postponing By One Year The Entry Into Force Of Law No. 21,719 On Personal Data Protection And Strengthening The Institutional Framework Of The Data Protection Agency

The Chilean government has submitted a bill to postpone the implementation of its comprehensive personal data protection law by one year, pushing the effective date to December 2027. The proposed delay aims to provide additional time for establishing the Personal Data Protection Agency and allow organizations to adapt their processes to the new regulatory requirements.
ChilePrivacy
Carey
Carey
Article

Proposed Amendment To The SEIA Regulation Submitted For Public Consultation

Chile's Ministry of the Environment has published a draft amendment to the Environmental Impact Assessment System (SEIA) regulation, proposing significant changes to entry criteria and thresholds for mining and real estate projects. The proposal introduces higher thresholds for mining operations and exploration activities while establishing new exemptions for certain waste reprocessing projects and real estate developments with approved emissions offset programs.
ChileEnvironment
Carey
Carey
Article

Central Bank Unveils Regulatory Agenda To Strengthen The Payments System And Financial Market Infrastructures

The Central Bank of Chile has unveiled its August 2026 Payments Systems Report, introducing a comprehensive regulatory development agenda that will reshape digital payments infrastructure and establish new frameworks for stablecoin regulation. The announcement signals significant changes ahead for financial institutions and Fintech companies as the Central Bank moves to strengthen instant payment systems...
ChileFinance and Banking
Carey
Carey
Article

Capital Markets Reform Bill Proposes A New Regulatory Framework For Investment Managers And Significant Changes For The Fund Industry

The Chilean Government has introduced a comprehensive Capital Markets and Home Financing Reform Bill that fundamentally restructures the regulatory framework for fund management companies, including new capital requirements, the creation of investment manager roles, and enhanced operational flexibility. The proposed legislation also introduces significant tax amendments for investment fund units and establishes new mechanisms for housing finance through FONAVI funds.
ChileFinance and Banking
Carey
Carey
Article

ISP requiere a los titulares de registro sanitario el envío digitalizado de folletos de información al profesional y dispone su publicación en su sitio web

El Instituto de Salud Pública de Chile ha establecido nuevos requisitos para los titulares de registros sanitarios de productos farmacéuticos, exigiendo el envío digitalizado de folletos de información profesional para su publicación en línea. ¿Cuáles son las obligaciones específicas, los plazos de cumplimiento y las consecuencias del incumplimiento de esta normativa sanitaria?
ChileFood, Drugs, Healthcare, Life Sciences
Carey
Carey
Article

CMF Amends NCG No. 540 And Strengthens Consent Management For REDEC

The Financial Market Commission has issued new regulations strengthening consent management requirements for Chile's Consolidated Debt Registry, introducing enhanced traceability, preservation, and notification standards. The amendments establish stricter protocols for how financial entities must handle debtor authorizations when accessing credit information, including mandatory notifications, unique tracking codes, and improved revocation mechanisms.
ChileFinance and Banking
Carey
Carey