Panama (2006)

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Governed by: Law 29 of February 1, 1996, as amended by Law 9 of February 20,2006 (hereinafter referred to as “Competition Act”)[1]

Category Subcategory Score Comment
Scope Extraterritoriality 1 Article 2 of the Competition Act states that the scope of the law extends to all acts or practices having an effect in Panama, regardless of where they develop.
Remedies Fines 1 Article 112 allows fining for various violations of the Act.[2]
Prison Sentences 0
Divestitures 1 Article 26 allows Commission to divest improper mergers.
Private Enforcement 3rd Party Initiation 1 Article 142 gives any concerned person the capacity to file a claim.[3]
Remedies Available to 3rd Parties 1 Article 142 allows actions seeking compensation for damages.[4]
3rd Party Rights in Proceedings 0
Merger Notification Voluntary 1 Chapter III of the Competition Act and Article 14 of the Monopoly Decree allow for voluntary notification of concentrations.
Mandatory 0
Pre-merger 0
Post-merger 1 Article 14 of the Monopoly Decree states that voluntary notification does not preclude companies from continuing in the concentration pending a decision by the Authority.
Merger Assessment Dominance 0
Restriction of Competition 1 Article 19 prohibits mergers that have the effect of impeding competition.
Public Interest (Pro D) 0
Public Interest (Pro Authority) 0
Other 0
Efficiency 0
Dominance Limits Access 1 Article 14(e) prohibits “unilateral action consisting in refusing to sell or provide, to certain persons, goods or services.”
Abusive Acts 0
Price Setting 1 Article 14(b) prohibits prices setting.
Discriminatory Pricing 1 Article 8 prohibits discriminatory pricing.
Resale Price Maintenance 1 Article 14(b) prohibits resale price maintenance
Obstacles to Entry 1 Article 14(g) prohibits predatory actions taken to prevent a potential competitor from entering the market.
Efficiency Defense 1 All the relative monopolistic practices (Articles 8 and 14) can be allowed when they are justified in terms of economic efficiency.
Restrictive Trade Practices Price Fixing 1 Article 11(a) of the Act prohibits price fixing.
Tying 1 Article 14(c) prohibits tying arrangements.
Market Division 1 Article 11(c) prohibits market division.
Output Restraint 1 Article 11(b) prohibits output restraint.
Market Sharing 1 Article 14(a) prohibits market sharing.
Eliminating Competitors 1 Article 14(g) prohibits predatory actions taken to squeeze a competitor out of a market.
Collusive Tendering/Bid-Rigging 1 Article 11(d) prohibits bid rigging.
Supply Refusal 0
Efficiency Defense 1 All the relative monopolistic practices (Articles 8 and 14) can be allowed when they are justified in terms of economic efficiency.

References

  1. Own translation of Competition Act, as available at: http://web.worldbank.org/WBSITE/EXTERNAL/TOPICS/EXTLAWJUSTICE/EXTCOMPLEGALDB/0,,contentMDK:21081222~pagePK:2137398~piPK:64581526~theSitePK:2137348,00.html; for secondary source analysis in English, see http://web.worldbank.org/WBSITE/EXTERNAL/TOPICS/EXTLAWJUSTICE/EXTCOMPLEGALDB/0,,contentMDK:21080815~menuPK:2137516~pagePK:2137398~piPK:64581526~theSitePK:2137348,00.html
  2. FTAA report, Inventory of Domestic Laws and Regulations relating to Competition Policy in the Western Hemisphere, March 22, 2002, http://www.ftaa-alca.org/ngroups/NGCP/Publications/domlaws_e.asp
  3. FTAA report, Inventory of Domestic Laws and Regulations relating to Competition Policy in the Western Hemisphere, March 22, 2002, http://www.ftaa-alca.org/ngroups/NGCP/Publications/domlaws_e.asp
  4. Id