Keywords: CADE, filing mergers
On August 18, 2015, Provisional Measure (Medida Provisória) No. 687 was published in the Official Gazette, changing the merger filing fees for cases of mandatory submission that are subject to the jurisdiction of the Council for Economic Defense - CADE.
The Provisional Measure amends section 23 of the Competition Defense Act (Law no. 12529/11) to increase the fee payable for filing mergers before CADE from BRL 45,000.00 to BRL 85,000.00. Furthermore, it authorised the Executive Branch to adjust such fee for inflation, a power until then shared with the Congress.
The increased fees are expected to come into force on January 1, 2016, if the Provisional Measure is converted into Law by such date. The authorisation for the Executive Branch to adjust the fee for inflation is already in effect, but its conversion into Law with the consequential maintenance of its provisions is subject to the approval of the National Congress.
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