Competition policy

摘要

Venezuela's 1999 constitution forbids monopolies and the creation of price cartels. President Nicolas Maduro enacted new anti-monopoly legislation in 2014, as part of a package of laws he approved using special powers given to him by the legislature. The new Anti-monopoly Law replaces the previous law in effect since 1992 and sets forth regulations regarding the abuse of a dominant market position. The law created the Anti-monopoly Superintendency (Superintendencia Antimonopolio), which replaced Procompetencia, the previous regulator. The new superintendency is under the Ministry of Economy and Finance (Ministerio del Poder Popular de Economia y Finanzas).