China is Peru's main trading partner, the largest destination of exports and the main source of imports for Peru. Peru is China's second largest investment destination in South America. The two countries have established a comprehensive strategic partnership and signed a free trade agreement. In the next five to 10 years, Peru will become another destination for Chinese enterprises going global. More Chinese companies will enter Peru and expand into the broader South American market through Peru. AllBright Law is actively exploring the legal service market in South America, providing reliable host country legal service resources and doing legal research on various host countries for Chinese enterprises going to South America, so as to provide legal protection for serving China's high-level opening-up and the "the Belt and Road" strategy. To this end, AllBright Law, together with Rodrigo, El í as &Medrano Law firms in Peru, launched this Series of Articles on Peru Business Environment, including Peru's going global, Peru's corporate structures, Peru's promotion of investment and legal stability, operational legal environment, business winding up and restructuring a business.

中国是秘鲁的主要贸易伙伴，是秘鲁第一大出口目的地国，也是秘鲁主要进口来源国。秘鲁是中国在拉美的第二大投资目的地。两国之间既建立全面战略伙伴关系，又签署了自由贸易协定。未来五到十年，秘鲁将成为中国企业出海的另一片热土，中国会有更多企业走向秘鲁，并通过秘鲁走向更广阔的南美洲市场。锦天城积极开拓南美洲法律服务市场，向出海南美洲的中国企业提供可靠的东道国法律服务资源和做好国别法律研究等工作，为服务中国高水平对外开放和“一带一路“战略提供法律保障。为此，锦天城联合秘鲁Rodrigo,Elías & Medrano律师事务所，推出《秘鲁营商环境》系类文章，介绍秘鲁走向世界、秘鲁公司架构、秘鲁外国投资促进和法律稳定性、企业运营法律环境、停业和企业重整等内容。

Anti-competitive conduct is prohibited and sanctioned by the Law for the Repression of Anti- competitive Conduct (LRCA) and the Criminal Code (CP).

反竞争行为受到《制止反竞争行为法》（“LRCA”）和《刑法典》（“CP”）的禁止和制裁。

Administrative penalties are determined and executed by INDECOPI for each case that is presented before it. The LRCA comes into effect and, if applicable, sanctions individuals and entities that participate in the investigated market. However, in the case of infractions classified as absolute prohibitions, it may also sanction those individuals or entities that, without participating in said market, act as planners, intermediaries or facilitators of an anti-competitive conduct.

INDECOPI对提交的案件做出行政处罚决定并负责执行。LRCA生效后，可以适用该法制裁那些参与被调查市场的个人和实体。但是，对于绝对禁止性违法行为， LRCA也可以制裁那些没有参与被调查市场，但充当了反竞争行为的策划者、中间人或推动者的个人或实体。

Three main types of conduct are sanctioned by the LRCA: (i) abuse of dominant position, (ii) horizontal collusive practices, and (iii) vertical collusive practices.

LRCA制裁三种主要类型的行为：（i）滥用支配地位，（ii）横向串通行为，和（iii）纵向串通行为。

Criminal sanctions are determined and executed by the Judiciary, without the previous opinion of INDECOPI. Likewise, it is not necessary for INDECOPI to declare or sanction anticompetitive conduct to initiate criminal proceedings. Unlike the LRCA, the CP does not delimit the market agents or entities. It may be considered an author of the crimes of Abuse of Economic Power.

刑事处罚由司法机构决定和执行，事先无需征询INDECOPI的意见。同样，启动刑事诉讼程序也无需由INDECOPI宣布或制裁反竞争行为为前提。与LRCA不同， CP不去界定市场的代理人或实体。其可能被认定为滥用经济地位犯罪的责任人。

The CP penalizes the following 2 types of conduct, already covered by the LRCA: (i) abuse of market dominance and (ii) participation in practices and agreements restrictive in the production, commercial or service activities in order to prevent, restrict or distort free competition (e.g., cartels or collusive practices).

CP处罚已被 LRCA调整的两类行为：（i）滥用市场支配地位，和（ii）参与限制生产、商业或服务活动的行为和协议，以阻止、限制或扭曲自由竞争（例如卡特尔或串通行为）。

Abuse of Dominant Position 滥用支配地位

According to the LRCA Law, an economic agent enjoys a dominant position in a relevant market when it has the possibility of substantially restraining, affecting, or distorting the supply or demand conditions in that market, without its competitors, suppliers, or customers being able to counteract it.

根据 LRCA法律，经济主体在相关市场上享有支配地位，是指该经济主体有可能实质性地限制、影响或扭曲该市场的供求状况，且竞争对手、供应商或客户无法与之抗衡。

Holding a dominant position, with or without affecting real or potential competitors, does not constitute an illegal conduct. Neither monopolies nor dominant positions are prohibited per se, what is considered to be anti-competitive conduct is the abuse of that position. The CP agrees to sanction only the abuse of dominant position and not its holding.

拥有支配地位，无论是否影响现实或潜在的竞争对手，均不构成违法行为。垄断或支配地位本身并不被禁止，滥用支配地位则构成反竞争行为。CP仅同意制裁滥用支配地位的行为，而不制裁拥有支配行为。

The LRCA Law provides that abuse of a dominant position is verified when an economic agent that holds a dominant position in the relevant market uses this position to unduly restrain competition, obtaining benefits and harming other competitors, in a way which would not have been possible had it not held said position.

LRCA法律规定，如果在相关市场具有支配地位的经济主体利用支配地位不当限制竞争、获取利益并损害其他竞争对手，则构成滥用支配地位行为。

Such conducts are sanctioned even when the dominant position derives from a legal provision or from an administrative act, contract or regulation. It is important to note that all conducts of abuse of dominance constitute relative prohibitions.

即使支配地位来源于法律规定或行政法规、合同或规章，该行为也应受到制裁。值得注意的是，所有滥用支配地位的行为均构成相对禁止行为。

It is worth mentioning that, unlike the LRCA, the CP does not contain a definition of abuse of dominance.

与LRCA不同，CP对滥用支配地位没有做出规定。

Horizontal Collusive Practices 横向串通行为

Horizontal collusive practices imply the joint action of several competitors as one. The reason for this is that companies sometimes find that cooperating with other competitors is more beneficial than competing with them. This undue cooperation occurs when companies coordinate to reduce the volume of their production, raise their prices, and increase the benefits to each company.

横向串通行为是指数个竞争者联合实施共同行为。其原因是，公司有时发现与竞争者合作比相互竞争更有利。公司协调减少产量、提高价格、增加公司利益时会出现此类不正当合作。

According to the LRCA Law, such practices may consist of agreements, decisions, recommendations, or concerted practices among competitors with the aim or effect of restraining, preventing, or distorting competition. The LRCA is not limited to sanction those legally enforceable agreements, but also prohibits cooperative activities, decisions or recommendations made through business partnerships, and even understandings between parties.

根据LRCA法律，该行为可能包括竞争者之间的协议、决定、建议或协同行为，其目的或效果是限制、阻止或扭曲竞争。LRCA并不仅限于制裁具有法律执行力的协议，还禁止合作行为、通过商业合作做出的决定或建议，甚至包括当事人之间的谅解。

Collusive practices are regulated by absolute prohibitions or regular prohibitions. Absolute prohibitions relate to practices that are illegal per se, while relative prohibitions relate to practices that require examination to verify whether they have anticompetitive effects. The LRCA considers as absolute prohibitions those concerted practices between parties (inter brand), which are not complementary or ancillary to other lawful agreements and whose purpose is to set wrecks, commercial conditions, limit production or sale, distribute customers, suppliers or markets, or establish positions or abstentions in bids (bid-rigging).

串通行为受到绝对禁止或相对禁止的规制。绝对禁止涉及本身违法的行为，而相对禁止涉及需要通过审查来证实其是否具有反竞争效果的行为。LRCA将当事人之间（品牌之间）的协同行为视为绝对禁止，该协同行为不是其他合法协议的补充或附属于其他合法协议，其目的是设置障碍、商业条件、限制生产或销售、分销客户、供应商或市场，或者确立投标地位或投标弃权（串通投标）。

Vertical Collusive Practices 纵向串通行为

According to the LRCA, these are collusive practices among economic agents operating at different levels of the production, distribution, and marketing whose purpose or effect is to restrict, prevent, or distort free competition. These types of practices require at least one of the parties to have a dominant position in the relevant market prior to engaging in the collusive arrangement.

LRCA认为，这些行为是发生在生产、分销和营销不同层面运营的经济主体之间的串通行为，其目的或效果是限制、阻止或扭曲自由竞争。构成此类行为至少要有一方在实施串通行为之前在相关市场上具有支配地位。

Illegal vertical practices may consist of alleged abuse of a dominant position and horizontal collusive practices. All vertical collusive practices constitute relative prohibitions. In all such cases, INDECOPI must demonstrate that the practice has or may have a negative impact on competition.

违法的纵向行为可能包括被指控的滥用支配地位和横向串通行为。所有纵向串通行为均构成相对禁止。在此种情况下，INDECOPI必须证明该行为已经或可能会对竞争产生不利影响。

For its part, the CP does not distinguish between horizontal and vertical collusive practices, and therefore, by virtue of the general classification, penalizes participation in practices and agreements restrictive in the productive, mercantile or service activity with the purpose of preventing, restrict or distort free competition.

就其本身而言， CP并未区分横向串通行为和纵向串通行为，因此，按照一般分类，对参与在生产、商业或服务活动中具有限制性的做法和协议以阻止、限制或扭曲自由竞争为目的，即应当被处罚。

Proving Collusive Practices 证明串通行为

Given that collusive practices are difficult to prove, the competition agency may resort to indications and presumptions in order to verify whether similar behavior exists among competitors, and that the similarity is not naturally explained by the competitive operation of the market, such as simultaneous price fluctuations, similar quality of the product offered, and comparable indications.

鉴于串通行为通常难以证明，竞争管理机构可通过迹象判断和推定，以便核实竞争者之间是否存在类似行为，以及是否可以用市场的竞争性经营，例如同时出现的价格波动、提供同等质量的产品以及其他可比性特征，来进行合理解释。

In this sense, the competition agency must make a careful and restrictive analysis of the alleged uncompetitive practice. For example, it must make sure that the similarity in behavior is not the result of a mere suspicion, but that it has been absolutely proved and that there is no rational alternative explanation for the concerted practice which is capable of justifying such identical behavior.

从这个意义上说，竞争管理机构必须对被指控的不竞争行为进行仔细和限制性分析。例如，必须确定行为之间的类似性不是纯粹出于怀疑，而是能够提供绝对性证明，能够证明这种相同行为是协同行为并排除掉合理的替代解释。

This analysis carried out by INDECOPI will not be considered as a necessary procedural requirement for criminal proceedings.

INDECOPI进行的此种分析不会作为刑事诉讼的一项必要程序性要求。

Sanctions and Corrective Measures 制裁和纠正措施

The anti-competitive practices sanctioned by the LRCA are of an administrative nature, therefore, such breaches result in the imposition of fines by INDECOPI. Depending on the seriousness of the infringement, fines may be up to 12% of the gross sales or revenues collected by the offending companies.

LRCA制裁的反竞争做法具有行政性质，因此， INDECOPI可对此类违法行为处以罚款。视违法的严重程度，罚款最高可达违法公司总销售额或总收入的12%。

In addition, INDECOPI is empowered to order corrective measures aimed to restore the competitive process. Corrective measures are additional to the sanctions that may be imposed for infringing the provisions contained in the LRCA.

此外，INDECOPI有权下令采取纠正措施，以恢复竞争秩序。纠正措施是对违反 LRCA条款所做出制裁以外的补充。

Likewise, INDECOPI often punishes individuals who participated in anti-competitive conduct on behalf of sanctioned companies.

同样，INDECOPI常常对代表受制裁公司参与反竞争行为的个人进行处罚。

As of August 2020, anti-competitive practices are covered by the CP as offences of a criminal nature, therefore, such offences result in sentences of imprisonment by the Judiciary. Depending on the seriousness of the offence, custodial sentences of not less than 2 years, nor more than 6 years may be imposed. In addition, the penalty of disqualification for the perpetrator of the crime, as well as fines ranging from 180 to 365 days, may also be applied.

截至2020年8月，反竞争行为被视为具有刑事犯罪性质而被CP所管辖，因此，此类罪行可由司法机构判处徒刑。视犯罪情节的严重程度，可判处2年以上、6年以下的监禁。此外，还可判处剥夺犯罪行为人资格，以及180天至365天不等的处罚。

The Leniency Program (Leniency) 宽大制度（宽大）

According to the LRCA, and provided that certain requirements are met, any of the persons, natural or legal, involved in a horizontal collusive agreement may request INDECOPI to be totally or partially exempted from the fine in exchange for providing evidence to help identify and establish the existence of the conduct and to punish parties.

根据LRCA，在满足特定条件的情况下，横向串通协议中的任何自然人或法人，通过提供有助于确认和确立行为存在的证据或让当事方受到处罚的证据，以此换取INDECOPI免除全部或部分罚款，

The leniency program does not eliminate or limit any civil liability that the applicant may have, as regards the damage that the anti-competitive conduct may have caused.

宽大制度不能消除或限制申请人就反竞争行为可能造成的损害所应承担的任何民事责任。

Control of acts of corporate control structure 对公司控制结构进行管控

In Peru, since 2021, the regime of prior control of corporate control structure operations is in force. The legal basis that regulates this regime is formed by Law 31112, “Law that establishes the prior control of corporate control structure operations”; its Regulation, approved by Supreme Decree 039-2021-PCM; and, the “Guidelines for the Calculation of Notification Thresholds”, approved by Resolution 022-2021/ CLC-INDECOPI.

自2021年起，秘鲁对公司实施控制结构实行事先监管。制度的法律基础由第31112号法律“关于公司实施控制结构事先管控法”、经039-2021- PCM最高法令批准的规章以及经022-2021/CLC-INDECOPI决议批准的“申报标准计算指南”构成。

This regime, which is applicable to all economic activities (and not only to the electricity market as it was before), obliges economic agents to request prior approval from the National Institute for the Defense of Competition and Protection of Intellectual Property (INDECOPI) for corporate control structure operations that comply with the requirements set forth in the regime.

这一制度适用于所有经济活动（而不是像以前那样仅适用于电力市场），使经济主体有义务就符合该制度要求的公司控制结构向国家保护竞争和知识产权协会（INDECOPI）申请事先批准。

The main aspects of the corporate control structure regime are as follows:

公司控制结构制度的主要内容如下：

1. Corporate control structure operations: 

the following are corporate control structure operations, and therefore could be subject to prior control by INDECOPI:

公司实施控制结构：以下是公司实施控制结构的行为，可能受到INDECOPI的事先监管：

a. A merger of two or more economic agents, which were independent before the operation, whatever the form of corporate organization of the merging entities or of the entity resulting from the merger.

两个或两个以上的经济主体的合并，这些经济主体在运营前是独立的，不论合并实体或合并后实体的公司组织形式如何。

b. The acquisition by one or more economic agents, directly or indirectly, of rights that allow them, individually or jointly, to exercise control over all or part of one or more economic agents.

一个或多个经济主体，直接或间接地获得权利，使其能够单独或共同对一个或多个经济主体的全部或部分行使控制。

c. The formation by two or more independent economic agents of a joint venture or any other analogous contractual modality that implies the acquisition of joint control over one or more economic agents, in such a way that said economic agent performs the functions of an autonomous economic entity.

两个或多个独立的经济主体组成合资企业或任何其他类似的合同形式，这意味着获得对一个或多个经济主体的共同控制，使得上述经济主体行使独立经济实体的功能。

d. The acquisition by an economic agent of direct or indirect control, by any means, of operating productive assets of one or more other economic agents.

一个经济主体通过任何方式，获得对一个或多个其他经济主体的生产经营性资产的直接或间接控制。

It should be noted that not only the four (4) types of transactions described in the preceding paragraph are the only ones subject to the prior authorization procedure. As long as there is a change of control, and the requirements are met, an operation could be subject to the regime.

值得注意的是，需要事先批准程序的不限于上述四种交易类型。只要发生了控制权变更，并且满足了相关要求，该经营行为就可能受该制度的约束。

For the purposes of analyzing a corporate control structure operation, INDECOPI also considers as a single business concentration operation the set of acts or operations carried out between the same economic agents within a period of two (2) years, and the concentration operation must be notified prior to the execution of the last transaction or act that allows the thresholds to be exceeded.

为分析公司控制结构行为，INDECOPI还将相同经济主体在两年内实施的一系列行为或经营视为单一的业务集中行为，并且集中行为必须在达到申报标准的最后一次交易或行为实施之前进完成。

2. Corporate control structure acts subject to the authorization procedure: In order to determine whether or not a transaction must go through the merger control regime, three (3) conditions must be verified simultaneously:

公司控制结构行为还受到授权程序的制约：为了确定一项交易是否必须通过合并控制制度批准，必须同时满足三个条件：

(i) That the transaction be executed or have effects in Peru.

该交易在秘鲁执行或在秘鲁生效。

(ii) That the transaction involves a transfer of control. According to the Law, control “Is the possibility of exercising a decisive and continuous influence over an economic agent through (i) rights of ownership or use of all or part of the assets of an enterprise, or (ii) rights or contracts that allow decisive and continuous influence over the composition, deliberations or decisions of the bodies of an enterprise, directly or indirectly determining the competitive strategy”.

该交易涉及到控制权的转移。控制权是指通过以下行为对经济主体施加决定性和持续影响的可能性：(i)企业全部或部分资产的所有权或使用权，或（ii）能够对企业机构的组成、审议或决策施加决定性和持续影响的权利或合同，从而直接或间接地决定了竞争策略。

(iii) That both parties jointly exceed the two (2) thresholds described in the following numeral:

双方同时超过以下数字中描述的两个标准。

3. Thresholds: The economic corporate control structures are subject to the procedure of prior control when the parties comply, concurrently, with the following thresholds:

标准：经济型公司控制结构受事前控制程序的制约，当事人需同时达到以下标准：

• The total sum of the value of sales or annual gross income or value of assets in the country of the companies involved in the corporate control structure operation has reached during the fiscal year prior to that in which the operation is notified, a value equal to or greater than 118,000 Tax Units (“UIT” and the “Joint Threshold”).

在该公司控制结构行为被告知的前一财政年度中，该公司控制结构实施涉及的公司所在国家的销售额或年总收入或资产价值总和等于或大于118,000个纳税单位（“UIT”和“共同标准”）。

• The value of the annual sales or gross income or value of assets in the country of at least two of the companies involved in the corporate control structure operation have reached, during the fiscal year prior to the one in which the operation is notified, a value equal to or higher than 18,000 UIT each (the “Individual Threshold”).

在该公司控制结构被告知的前一财政年度中，在该公司控制结构实施涉及的至少两个公司所在国家的年销售额或年总收入或资产价值达到或大于18,000个纳税单位（“单独标准”）。

The Guidelines state that the UIT to be used must be “the UIT in force as of the last day of the fiscal year prior to the date of notification of the transaction, that is, as of December 31 of the previous year”. Accordingly, the amount of the thresholds applicable to all operations carried out in the year 2023 is as follows:

指南规定所使用的纳税单位必须是“在交易申报之日的前一财政年度的最后一天，即上一年度的12月31日为有效的纳税单位”。因此，适用于2023年所有经营行为的纳税单位的单位数额如下：

4. Operations that do not comply with the requirements: In the event that a corporate control structure operation is not subject to the merger control regime, the parties must submit a sworn statement in this regard. Likewise, INDECOPI may initiate an ex officio prior control procedure when there is prima facie evidence that it may generate a dominant position or affect effective competition in the relevant market, even if the aforementioned thresholds are not exceeded. This power may be exercised by INDECOPI up to one (1) year after the formal closing of the transaction.

不符合要求的经营行为：在公司控制结构行为不受合并管控制度约束的情况下，当事人必须就此提交一份宣誓声明。同样，如有初步证据表明交易可能产生支配地位或影响相关市场的有效竞争时，即使没有超过上述的纳税单位，INDECOPI也可以依职权启动事先管控程序。INDECOPI可以在交易正式结束后一年内行使这一权力。

5. Term and duration of proceedings: The authorization procedure by INDECOPI is one of two phases, depending on the transaction to be analyzed and the possible effects that it may have on the relevant market.

程序期限：INDECOPI的批准程序可以分为两个阶段，这取决于所分析的交易及其对相关市场可能产生的影响程度。

The first phase culminates with the authorization of INDECOPI in cases that do not involve competition concerns. This phase lasts a maximum of fifty-five (55) working days and concludes with the approval of the transaction by INDECOPI. In case the authority does not issue a decision within the term, the transaction shall be deemed to be approved by the application of the positive administrative silence. Only when a corporate control structure operation has competition concerns, or involves companies with a significant participation in the relevant market, INDECOPI initiates the second phase of the analysis, which lasts a maximum of ninety (90) working days (extendable for an additional thirty (30) working days, with prior justification).

在不涉及竞争问题的情况下，第一阶段的结果是获得INDECOPI批准。这一阶段最长为五十五个工作日，以INDECOPI批准交易作为结束。如果在此期间没有作出决定，则该交易应被视为适用积极的行政沉默而获得批准。仅当公司控制结构行为存在竞争问题，或公司在相关市场上具有重要地位时， INDECOPI才启动第二阶段的分析，这一阶段最长为九十个工作日（经事先获准，可延长三十个工作日）。

6. Termination of proceedings: Once the corporate control structure operation has been analyzed, the Law states that INDECOPI may: (i) authorize the transaction; (ii) authorize the transaction with conditions aimed at avoiding or mitigating the possible effects that could arise from the corporate concentration transaction; or (iii) not authorize the transaction. INDECOPI’s decisions may be appealed.

程序的终止：一旦对公司控制结构的行为进行分析，法律规定INDECOPI可以（i）批准交易；（ii）附条件批准交易，以避免或减少公司集中交易可能产生的不利影响；或（iii）不批准交易。INDECOPI的决定可以被上诉。

7. Fines and non-compliance: Failure to comply with the regime leads to fines and corrective measures. The amount of these fines could be up to a maximum amount equivalent to 12% of the gross sales or income received by the infringer, or its economic group, related to all its economic activities, corresponding to the fiscal year immediately prior to the issuance of INDECOPI’s resolution.

罚款和违规行为：不遵守该制度将导致罚款和被采取纠正措施。罚款的数额最高可以相当于侵权人或其经济集团在INDECOPI决议发布前一财政年度与其所有经济活动相关总销售额或收入的12%。

INDECOPI may impose corrective measures aimed at undoing the economic corporate control structure operation when possible. Notwithstanding the foregoing, the Law indicates that a corporate control structure operation that must be submitted to the prior control procedure has no legal effect whatsoever as long as it does not have the prior authorization of INDECOPI.

在可能的情况下，INDECOPI可以采取纠正措施，旨在撤销经济型公司控制结构行为。尽管有上述规定，只要没有INDECOPI的事先授权，必须通过事先监管程序的公司控制结构行为就不具有任何法律效力。

At this point, it must be noted that formally closing a transaction before obtaining INDECOPI’s authorization is not the only case of infringement to the corporate control structure operation. Thus, actions such as sharing sensitive information between the parties, integrating operations or influencing in any way the company’s competitive strategy (exercising some kind of control, even de facto) before obtaining INDECOPI’s authorization may be considered as a punishable infringement.

必须注意的是，在获得INDECOPI的授权之完成一项交易并不是侵犯公司控制结构行为的唯一情形。因此，在获得INDECOPI的授权之前，当事人之间分享敏感信息、整合经营或以任何方式影响公司的竞争策略（行使某种控制，甚至是事实上的控制）等行为都可能被认定为应受处罚的侵权行为。