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With major vaccine developments in Latin America, including kick-offs for vaccine campaigns, employers should consider whether a vaccination policy is right for their workplace, keeping in mind that such policies implicate a broad range of employment laws and regulations, and that many of these vary from country to country.

An Employment & Compensation Practice and Healthcare & Life Sciences Industry Initiative
With major vaccine developments in Latin America, including kick-offs for vaccine campaigns, employers should consider whether a vaccination policy is right for their workplace, keeping in mind that such policies implicate a broad range of employment laws and regulations, and that many of these vary from country to country.

On 3 August 2021, Resolution No. 742/2021 (“Resolution”) was published, whereby the Secretary of Energy (“Secretary”) issued new measures to be applied in favor of the successful bidders of the “RenovAr Program” (“Program”) projects delayed in obtaining commercial authorization or failing to provide the committed energy supply.

These measures, subject to certain requirements, involve the following incentives: (i) reduction of penalties; and (ii) extension of deadline to achieve commercial authorization.

By National Law No. 27,640, published on 4 August 2021, the National Congress approved the new regulatory framework for biofuels that will be valid in Argentina from 5 August 2021 until at least 31 December 2030 (“Law”). The Law establishes, among others, new mandatory percentages of biofuels to be included in blends with fossil fuels reducing from 10% to 5% the prior percentage for biodiesel, granting more discretion to the enforcement authority, and establishing tax exemptions while repealing previous tax benefits.

By means of Decree 493/21 published in the Official Gazette on 6 August 2021, a benefit of reduction of an employer’s social security contributions was established for the case of new hiring of personnel who participate, or have participated, in Educational, Vocational Training or Labor Intermediation Programs of the Ministry of Labor, Employment and Social Security.

In the framework of the global pandemic caused by SARS-CoV-2, and given both the decrease of cases and the increase of vaccination in Argentina, through Decree 494/2021, the National Government has established new preventive measures applicable between 7 August and 1 October 2021, inclusive, attuned to those that were last implemented by means of Decree 413/2021.

In July of 2017, Andrew Bailey, the chief executive of the UK Financial Conduct Authority (FCA), announced in a speech that after 2021 the FCA would no longer use its power to compel panel banks to submit rate information used to determine the London Interbank Offered Rate (LIBOR). Mr. Bailey encouraged the market to develop robust alternative reference rates to replace LIBOR.

Through Resolution No. 706/2021, published on July 27 2021 and in effect as from that day, the Secretary of Energy created the “Liquefied Natural Gas Operators Registry” within the scope of the Undersecretariat of Hydrocarbons, dependent on the Secretary and the Ministry of Economy. The Resolution also regulated the requirements for granting LNG export permits for up to 20 years.

By means of National Decree No. 427/2021 (“Decree”), published on 1 July 2021, the National Executive Power granted the General Ports Administration (AGP), a State Company, the concession for the maintenance of a signaling system, dredging and re-draining tasks, and hydrological control of the Paraguay-Paraná Waterway (“Waterway”) for a period of 12 months, or until it is awarded by another entity through an international bidding proceeding.