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Introduction Although the London Interbank Offered Rate (LIBOR) is currently the most widely used interest rate benchmark and serves as a price reference for a broad range of financial instruments, the UK Financial Conduct Authority will stop supporting LIBOR at the end of 2021. According to the National Working Group (NWG) on Swiss Franc Reference Rates, the Swiss Average Rate Overnight (SARON) is the proposed replacement standard. The transition period poses several challenges for national and global market participants. In December 2020 the Financial Market Supervisory Authority (FINMA) pu...

Introduction Litigation often turns out to be a drawn-out, tedious and expensive pursuit. This is particularly true in civil suits or disputes, which may last for years and often culminate in a decision which makes even the victorious party feel the brunt of the prolonged process. The 222nd Report of the Law Commission(1), among other things, acknowledged that "delay in disposal of cases in law Courts, for whatever reason it may be, has really defeated the purpose for which the people approach the courts for redressal". It is a universally recognised principle that justice delayed is justice ...

On 20 October 2020 Law 4736/2020 concerning the reduction of the impact of certain plastic products on the environment was published in the Official Gazette (OJ A΄ 200/2020). According to Article 20 of the law, a new article (Article 4A) regarding the declaration of readiness for the connection of renewable energy source (RES) stations to the distribution network or transmission system has been added to Law 4416/2016 (OJ A΄ 149/2016). Declaration of readiness In light of the new provisions, the holder of a RES station whose installation is complete must submit a declaration of readiness be...

Introduction On 9 February 2021 the Maharashtra governor promulgated the Maharashtra Stamp (Amendment and Validation) Ordinance 2021 with immediate effect. The ordinance introduced two key amendments to the Maharashtra Stamp Act 1958 concerning: the stamping of documents that encompass multiple transactions; and stamp duty rates for agreements that relate to: the creation of a mortgage by deposit of title deeds; and mortgage deeds. Stamping of instruments relating to several distinct matters or transactions Section 5 of the Maharashtra Stamp Act, which deals with the stamping of various instr...

The National Health Surveillance Agency recently published four guidelines on its prior consent procedure, which all pharmaceutical patent applications in Brazil must undergo before the Brazilian Patent and Trademark Office (BRPTO) conducts the technical examination. However, applicants should remember that the final decision on the patentability of pharmaceutical patent applications is made exclusively by the BRPTO.