Law on Public Assets presumably violates private property

The Chamber of Commerce of Puerto Cabello (Carabobo state, central-north Venezuela) expressed its concern about the enactment of the Organic Law on Public Assets for deeming it against private property.

After a review of the legal instrument, endorsed last week via enabling law, the association arrived at the conclusion that some rights are being lost, as "importers cannot recover legally abandoned goods."

As far as the members of the port-customs committee of the Chamber are concerned, article 40 of the new law abrogates articles 6 and 71 of the Customs Organic Law, as "the commodities declared legally abandoned" are made available to the Treasury.

The association also requested the authorities of the Integrated National Customs and Tax Administration Service (Seniat) to construe the law.