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Parliament Passes Aircraft (Amendment) Bill To Raise Maximum Cap On Fines From 10L To 1Cr

The Parliament passed the Aircraft (Amendment) Bill, 2020, to bring the Aircraft Act, 1934 in line with the internationally accepted standards, procedures and practices as laid down by the International Civil Aviation Organisation (ICAO).
The Bill was cleared by the Lok Sabha on March 17, 2020 during this year’s budget session.
As per the Statement of Objects and Reasons annexed to it, the 2012 and 2105 audits conducted by the ICAO indicated a need to amend the Aircraft Act:
• to give proper recognition to the regulators under the Act;
• to empower the departmental officers; and
• to enhance the maximum quantum of fines.
It is in this backdrop, Minister of Civil Aviation Hardeep Singh Puri said, that the amendments were being proposed. He further said that the Bill was necessitated keeping in view the rising number of air passengers and cargo traffic across airports.

Asia Law Offices advised a major transnational strategic collaboration between its client, UAE-Based Pharmax Pharmaceuticals, and Swiss pharma major Acino Pharmaceuticals.

ALO represented Pharmax in the structuring and closure of entire transaction documents of the significant collaboration.

The collaboration framework extends to licensing, manufacturing, and supply of Acino formulations within the gastroenterology and the cardiovascular space throughout the Middle East and Africa.