National Assembly of Nicaragua approves law to repeal competition and dispute resolution agencies

The National Assembly of Nicaragua has approved a law to repeal the National Attorney General's Office for the Defense of Free Competition and Alternative Dispute Resolution. The legislation, which passed with 90 votes, aims to eliminate institutional duplication and improve administrative efficiency and legal certainty.

The law suppresses the National Attorney General's Office for the Defense of Free Competition and Alternative Dispute Resolution, specifically the Directorate for the Promotion of Competition (PROCOMPETENCIA) and the Directorate for Alternative Dispute Resolution (DIRAC).

As a result, all procedures before DIRAC and existing accreditations for individuals, legal entities, and mediation centers to operate as arbitrators or mediators are no longer legally valid. The Ministry of Finance and Public Credit and the Attorney General's Office will coordinate the reallocation of all active assets and financial resources from the defunct agencies.