New Code of Commerce for Chile
The Ministry of Justice and Human Rights brought together a number of experts to lay the groundwork for a new code of commerce, as the current text, although amended, has been in force since 1867. Our partner Juan Eduardo Palma J., who also heads the Commercial Law Department at the Universidad de Chile Law School, was part of the group of specialists convened to discuss a proposed reform of the code.
He comments: “The update of the Code of Commerce is a necessary opportunity to bring our legal framework into line with the current dynamics of the markets and the economy. A text dating from 1867, even with amendments, can hardly provide a comprehensive response to the present-day challenges of trade, digitalization, and the internationalization of business. We particularly welcome the Ministry of Justice’s initiative, which brings together different technical perspectives to develop a modern, coherent and systematic proposal. Moving forward with this reform not only strengthens legal certainty but also helps to improve the country’s competitiveness and the quality of our regulation”.




















