Volume 6, Number 24, Page 3
AGRICULTURE, MINES & CATTLE INDUSTRY
Mexico
Grant Program Guidelines Announced
Mexico’s Department of Agriculture, Livestock and Rural Development (SAGAR) announced the guidelines for the Cotton Vending Assistance Program. These guidelines will apply for the program in the autumn-winter 1998-1999 harvest as well as for the spring-summer 1999 harvest. The states of Sonora and Baja California will receive the largest amounts of grant money. Diario Oficial, 11/11/99.
ANTITRUST/ANTIDUMPING
Argentina
New Merger Notification and Control Guidelines Approved
Argentina’s Competition Defense Tribunal has set forth new guidelines for the control of mergers as well as uniform notification requirements, as provided by Articles 8 & 58 of Law No. 25.156 regarding fair competition practices. Under the auspices of the Department of Industry, Commerce, & Mining, the Tribunal now has governmental authority over the application process, evaluation and approval of mergers involving Argentine businesses, based upon fair competition criteria. Public disclosure and notification requirements were also strengthened to increase transparency in merger transactions. Boletín Oficial, Resolución 726/99, 9/29/99; Disposición 14/99, 10/4/99
Mexico
Further Elimination of Duties for Chinese Toys Under Investigation
Two separate petitions sent to the Department of Commerce and Industrial Development (SECOFI) request determination of the impact of eliminating antidumping duties previously assessed on toys and pencil sharpeners from China. SECOFI announced it would investigate whether the elimination of antidumping duties previously imposed in two different cases will harm national industries. Diario Oficial, 11/08/99.
Investigation Initiated into Alleged Dumping of Brazilian Transformers
An investigation over alleged dumping practices involving electric transformers from Brazil has been announced by SECOFI. On October 1, 1999 IEM, S.A. de C.V. petitioned SECOFI to investigate possible dumping practices and to apply antidumping duties to the imports of electrical transformers from Brazil. Interested parties may obtain additional information at the Unidad de Prácticas Comerciales Internacionales, located in Insurgentes Sur 1940, P.B., Col. Florida, México, D.F. 01030. Diario Oficial, 11/11/99.
BANKING & CREDIT
Brazil
Federal Guarantee Limits for Credit Transactions
The Brazilian Senate adopted Resolution No. 41 on October 7, 1999, dealing with domestic and external credit transactions between the Federative Republic of Brazil, independent agencies and other government-controlled entities. Resolution 41/99 stipulates limits and conditions for the tendering of guarantees by the Federal Government in domestic and external credit transactions (DOU-I of October 8, 1999). Pinheiro Neto Advogados, www.pinheironeto.com.br
Mexico
Bond Institutions Law Amended
Mexico’s Department of Treasury (SHCP) published a decree amending the Federal Law of Bond Institutions. The law regulates the organization and functioning of bond institutions, their activities and operations, as well as those of individuals operating in similar activities. Diario Oficial, 11/10/99.
Peru
IDB Supports Peruvian Finance Sector Reform
The InterAmerican Development Bank (IDB) and Peru signed an accord that would finance US$310.9 million program to reform the financial system in Peru, develop new markets, and increase the accessibility of financial services. The agreement includes US$3.5 million designated to strengthening the authority of Peru’s Banking and Securities Superintendence over national financial institutions. El Comercio, 11/16/99, www.elcomercioperu.com.pe
CONSUMER LAW
Mexico
Tourism Law Regulations Amended
In efforts to increase tourism revenue, Mexico’s Department of Tourism (SECTUR) published a decree amending the regulations of the federal tourism law. The amendments focus on tourism promotion and other activities related to the tourism industry, which also represents a major source of currency exchange for the country. Diario Oficial, 11/09/99.
ENERGY
Argentina
Electrical Power Access Regulations Augmented
Argentina’s Department of Energy has issued Resolution 488/99 regarding access to the power network and the existing electricity reserves. The measure strengthens the authority of the National Electricity Regulatory Body (Ente Nacional Regulador De La Electricidad - ENRE) over access to electrical power, and provides for the eventual expansion of Argentina’s Interconnection System (Sistema Argentino de Interconexion - SADI) in order to ease current congestion. Boletín Oficial, Resolución 488/99, 9/29/99
Mexico
Uniform Contract Models Approved
Several form contracts were recently published by Mexico’s Energy Regulatory Commission for use in certain agreements entered into by the Commission. These form contracts relate to several newly approved structures that involve private industry participation in energy production. Diario Oficial, 11/09/99.
ENVIRONMENT
Peru
Delayed Water Law Project Among Sector Concerns
Officials from the Peruvian Ministry of Agriculture met with the International Monetary Fund (IMF) to discuss financial problems facing this sector. Several problem areas were identified, including title distribution and the current Water Law, the legal framework of which is undergoing revision. On a more positive note, it was disclosed that the recently implemented Agricultural Campaign of 1999-2000 has resulted in an increase in agricultural land of 3.2% over this period last year. Gestión, 11/18/99, www.gestion.com.pe
IMMIGRATION
Brazil
Alien Visa Criteria for Spouses, Dependents
The National Immigration Council issued Executive Order No. 2 and Normative Resolution No. 36 on September 28, 1999, relating to the concession of alien visas. These measures provide the criteria for granting visas to (a) spouses of foreigners living in Brazil, and to (b) individuals that are legal dependants of Brazilian citizens or foreigners temporarily or permanently residing in Brazil, for family reunion purposes, respectively (DOU-I of October 11 and 13, 1999). Pinheiro Neto Advogados, www.pinheironeto.com.br
MEDICINE & HEALTH
Argentina
Chinese Analgesic Plaster Prohibited
Two decisions have been issued by the National Administration of Medicines, Aliments, & Medical Technology prohibiting the use of two types of analgesic plaster originating from China. The commercialization and use of “Musk & Tiger Bone” and “Musk & Tiang – Chongoing” analgesic plaster products is now prohibited throughout Argentina. Boletín Ofical, Disposiciones 5286/99, 9/30/99, & 5304/99, 10/4/99
Mexico
Standards Related to Social Assistance Published
The Department of Health (SSA) published technical standards regarding governmental assistance of minors and senior citizens. NOM-167-SSA1-1997 establishes the procedures to harmonize criteria, policies and strategies to provide services and develop the activities related to the social assistance of such individuals. Diario Oficial, 11/17/99.
SECURITIES
Brazil
Registration Procedures for Multi-National Public Distribution of Securities
The Brazilian Securities Commission (Comissão de Valores Mobiliários – CVM) issued
Ruling No. 315 on September 27, 1999, setting out preliminary confidential review procedures for registration applications of publicly held companies as well as securities distribution filings. These procedures are only applicable when related to simultaneous offering of securities in Brazil and abroad, and as such are subject to registration with foreign regulatory agencies (DOU-I of September 30, 1999). Pinheiro Neto Advogados, www.pinheironeto.com.br
TAXES
Mexico
Simplified Tax Program Amended
Mexico’s Department of the Treasury (SHCP) has announced a fourth set of amendments to the simplified tax program for the year 1999. The program was published on March 30, 1999 and grants special and simplified administrative tax payment procedures to small contributors, such as those dedicated to agriculture and livestock. Diario Oficial, 11/08/99.
