CHILE Law and Practice Contributed by: Ricardo Rozas, Max Morgan and Stefano Perretta, Jorquiera & Rozas Abogados
8.3 Trade Sanctions Generally, Chile has recognised several UN reso - lutions on trade sanctions. In this respect, Article 38 of Law 19,913 (which created the so-called Financial Analysis Unit and modified several provisions related to money laundering (Law 19,913)), states that all natural and legal persons indicated in Article 3 of Law 19,913 (ie, banks and financial institutions, fac - toring companies, leasing companies, securiti - sation companies, etc) are required to inform the Financial Analysis Unit of all acts, transactions or operations carried out or attempted by any of the natural or legal persons identified in the lists drawn up by the Committees established in the UN’s Security Council Resolutions 1267 of 1999, 1333 of 2000, 1373 of 2001, 1390 of 2002, 1718 of 2006, 1737 of 2006, 1747 of 2007, 1803 of 2008, 1929 of 2010, 1988 of 2011, 1989 of 2011, 2253 of 2015, 2356 of 2017 and 2371 of 2017, and in subsequent resolutions or any other resolutions that add to or replace them and that are contained in supreme decrees published in the Chilean Official Gazette. In addition, the aforementioned Article 38 estab - lishes a brief legal procedure whereby the Finan - cial Analysis Unit must request, without prior notice to the affected party and for a specific period, that a Minister of the Court of Appeals of Santiago adopt one or more measures to avoid the use or exploitation of goods, values or mon - ey subject to the act, transaction or operation and must ensure that sanctioned parties do not benefit from such goods or come to ultimately possess them. The provision also stipulates an appeal remedy for the review of the measures in favour of the affected party.
from abroad to Chile, and vice versa, can recov - er VAT charged when purchasing goods or using services intended for their activity. 8. Implications of Non- Performance, the IMO 2020, Trade Sanctions and the War in Ukraine 8.1 Force Majeure and Frustration Under Chilean law, a force majeure or fortuitous act is defined as “the unexpected that it is not possible to resist, such as a sinking, an earth - quake, the taking of enemies, the acts of author - ity performed by a public official, etc” (Article 45 of the Chilean Civil Code). Generally, in Chilean practice, to sustain force majeure as an exception to liability, three cumu - lative conditions must be met: • irresistibility; • unpredictability; and • unimputability. The above conditions must also be met in the context of non-performance of a shipping con - tract. 8.2 Enforcement of the IMO 2020 Rule Relating to Limitation on the Sulphur Content of Fuel Oil The cap on the sulphur content of fuel oil used in Chilean domestic territorial waters is that estab - lished in the MARPOL Convention. Enforcement of these requirements is carried out by the local representative of the vessel’s flag state author - ity, and the sulphur content is verified according to the bunker delivery note certificates for the bunker’s supply.
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