April 22nd 2024 was the deadline for the Public Consultation of the draft of the Regulation for the Leniency Programme Implementation outlined by the National Commission for the Defence of Competition (CNDC, for its acronym in Spanish).
The Regulation specifies the stages, procedure and requirements to be fulfilled by a human or legal entity that has incurred, or is incurring, in a conduct listed in Section 2 of Act 27.442 for the Defence of Competition (LDC, for its acronym in Spanish), in order to benefit from the exemption from or reduction of the corresponding sanction, as provided for in Section 60 and 61 of the LDC and its Regulatory Decree No. 480/2018.
The CNDC would like to extend its profound gratitude to all who have commented on this project. These contributions are definitely a valuable tool for improving the proposed regulation.
It is worth highlighting that human as well as legal entities that have incurred or are incurring in a concerted conduct typified in Section 2 of the LDC, i.e. the so-called cartels agreements between two or among more competitors to fix prices, restrict supply, share or divide the market or fix bids in tenders or auctions– can apply to the Leniency Programme.
The Leniency Programme will let the applicant benefit from exoneration from or reduction of the sanction, which can imply fines of up to 30% of the turnover of the offending companies in Argentina. The obtention of the benefit implies the applicant’s permanent collaboration with the CNDC, submitting information and evidence that can allow the agency to prove the existence of the cartel.
In order to make enquiries about the availability of markers, or other general enquiries about the Leniency Program, please write to the following email address: [email protected].
The draft of the Regulation for the Leniency Programme Implementation, can be found here.