Executive branch partially vetoes Commercial Code bill
18 abril 2019

On April 15, The Executive branch has partially vetoed the Organic Code of Commerce, approved by the National Assembly on March 12. The veto was received the next day by the Economic and Tax Regime Committee; this will be tasked with reviewing the Executive’s objections and then passing the bill to the plenary floor so that it can be debated once more by the Assembly.

The bill establishes the right to freedom of commercial activity, transparency, social and environmental responsibility, as well as provisions to prevent unfair competition. It also incorporates articles on securities trading, use of electronic signatures, credit notes, promissory notes and e-commerce regulation.

The Assembly will have 30 days to respond to the presidential veto, in which time it may accept the modifications requested by the Executive, reject them and/or insist on moving ahead with the approved bill or on some of its aspects.


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