Legal Alert Covid-19: Law that increases the capital of the Small Business Guarantee Fund (FOGAPE) and temporarily softens its requirements
May 5, 2020 / By Mauricio Halpern y Vicente Vergara On April 24, 2020, Law No. 21,229 (the “Law“) was published in the Official Gazette. Its main purpose is to provide an emergency capitalization to the FOGAPE and to temporarily relax the requirements to qualify for financing, until April 30, 2021. The FOGAPE (an acronym for the initials in Spanish, […]
Read moreLegal Alert Covid-19: Obligation to wear masks and their infringement as a source of the crime of harming public health
April 20, 2020 / By Ignacio Schwerter On April 17, 2020, Resolution No. 282 of the Ministry of Health was published in the Official Gazette. By means of this resolution, the authority established the mandatory use of masks in different places and under different circumstances: 1. To all people using public or private transportation subject to payment. The same obligation […]
Read moreLegal Alert Covid-19: Chilean banking and credit measures in the context of Coronavirus
April 16, 2020 / By Mauricio Halpern y Vicente Vergara The financial tensions originated as a result of the recent worldwide outbreak of the coronavirus (also known as COVID-19), has motivated the Chilean Government, in conjunction with the Central Bank (“BC”) and the Financial Market Commission (“CMF”), to put into effect an “Emergency Economic Plan”, which seeks to provide support […]
Read moreLegal Alert Covid-19 Update on Business Interruption and the “Employment Protection Law”
April 8, 2020 / By Luis Parada On April 8, it was published in the Official Gazzete the first resolution establishing the areas and territories affected by declarations of authority involving the cessation of activities (Resolution 88 of the Ministry of Finance). This to ensure that workers of the affected companies who are unable to fulfil their labour obligations due […]
Read moreLegal Alert: Law that modifies Law No. 19,983 that regulates the transfer and grants executive merit to the copy of the invoice
April 7, 2020 / By Macarena Iturra, Ricardo López, Manola Quiroz, Luis Parada, Felipe Riedel, Ignacio Schwerter, Claudio Sepúlveda and Andrea de la Vega. In this legal alert prepared in the framework of the Coronavirus in Chile, you can find information about (I) law N°21,217 that modifies law N°19,983 that regulates the transfer and grants executive merit to the copy […]
Read moreLegal Alert: Tax Measures Aimed to Reduce The Economic Impact Created by COVID-19
April 7, 2020 / By Rodrigo Álvarez, Germán Vargas y Gonzalo Zegers. On April 1 2020, the Chilean government issued Decree Nº 420, which established tax measures aimed to reduce the economic impact created by COVID-19. These measures will be valid for a period of 12 months and until the effects of the Covid-19 are exhausted. The following list contains […]
Read moreLegal Alert: Approved law enabling access to unemployment insurance benefits in exceptional circumstances
April 6, 2020 / By Luis Parada and Iñaki Irisarri. On April 6, the Law 21,227 (Law on Protection of Employment Positions during Covid-19 crisis) was enacted by means of its publication in the Official Gazette (Diario Oficial). This law authorizes the following regime: /a/ Automatic suspension of employment agreements: The law provides that, unless otherwise agreed by the parties, […]
Read moreLegal Alert: CMF authorizes corporations under its control to use electronic signature for board of directors meetings minutes
February 25, 2020 / By Matías Zegers and M. del Pilar Paredes On February 13, 2020, the Commission for the Financial Market (“CMF”) issued General Rule No. 434 (“NCG 434”) that authorizes corporations that are under its control, the use of electronic signature for the subscription of minutes of board of directors meetings. The NCG 434 permanently authorizes the use […]
Read moreLegal Alert: Procedure to approve a New Constitution in Chile
January 14, 2020. By: DLA Piper Chile On December 2019 Chilean Congress approved Law 21,200 (the “Law”) stating a procedure aimed to elaborate a new Constitution which would replace the current Constitution. Pursuant to such procedure, Chileans shall vote on April 26, 2020 either approving or rejecting the possibility of having a new Constitution. In such a referendum, Chileans shall […]
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