Post by account_disabled on Jan 11, 2024 6:52:31 GMT
As was widely reported, on August 26, 2021, Law No. 14,195/2021 was sanctioned — called the "Business Environment Law", resulting from the conversion of Provisional Measure No. 1,040/2021. The regulations are in line with the Economic Freedom Law (Law No. 13,874/19) and the Debureaucratization Law (Law No. 13,726/2018), with governance rules for companies, whose scope is to simplify bureaucratic procedures and increase efficiency and dynamism in the business environment, thus increasing its competitiveness. It also complies with the vectors contained in the Law of Introduction to the Standards of Brazilian Law (LINDB) by requiring clarity and objectivity in the criteria used by public managers.
The thematic scope of the new Law is impressive, covering everything from facilitating the opening and operation of companies, through the creation of an integrated asset recovery system, and even entering the area of intercurrent prescription. Specifically in the scope of Telegram Number Data telecommunications, Law No. 14,195/2021 revokes the sole paragraph of article 18 of the General Telecommunications Law (LGT), which provided: " The Executive Branch, taking into account the interests of the Country in the context of its relations with other countries, may establish limits on foreign participation in the capital of a telecommunications service provider".
In this sense, the Law removes from the Executive Branch the power to impose foreign capital limits on companies wishing to operate in the telecommunications sector. Restrictions on foreign participation are therefore reduced, increasing the number of players and, consequently, competitiveness in the sector. On the other hand, it excludes from the Executive Branch the prerogatives of establishing limits, such as national security or reciprocity, for example. Furthermore, the new Law affects, by extension, Decree nº 2,617/1998, which regulates the sole paragraph of article 18, now revoked.
The thematic scope of the new Law is impressive, covering everything from facilitating the opening and operation of companies, through the creation of an integrated asset recovery system, and even entering the area of intercurrent prescription. Specifically in the scope of Telegram Number Data telecommunications, Law No. 14,195/2021 revokes the sole paragraph of article 18 of the General Telecommunications Law (LGT), which provided: " The Executive Branch, taking into account the interests of the Country in the context of its relations with other countries, may establish limits on foreign participation in the capital of a telecommunications service provider".
In this sense, the Law removes from the Executive Branch the power to impose foreign capital limits on companies wishing to operate in the telecommunications sector. Restrictions on foreign participation are therefore reduced, increasing the number of players and, consequently, competitiveness in the sector. On the other hand, it excludes from the Executive Branch the prerogatives of establishing limits, such as national security or reciprocity, for example. Furthermore, the new Law affects, by extension, Decree nº 2,617/1998, which regulates the sole paragraph of article 18, now revoked.