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Issues: Whether the press release dated 01.10.2009 announcing Cabinet approval of modifications to the mega power policy amounted to "law" under the RFP/PPA and thereby brought about a change in law from that date.
Analysis: The relevant contractual definition of "law" covered statutes, notifications, rules, regulations, orders and similar instruments having force of law. The press release was only a summary of a Cabinet decision and merely indicated a proposed policy change subject to further steps and conditions. The earlier customs exemption notification and the existing mega power policy continued to operate on 01.10.2009. The legal regime changed only when the formal customs notification and revised policy were issued on 11.12.2009 and 14.12.2009. A press release, without the statutory notification required under the Customs Act, did not have the force of law and could not by itself amend or supersede the existing regime.
Conclusion: The press release of 01.10.2009 did not constitute law under the RFP/PPA and did not effect a change in law on that date.
Ratio Decidendi: Where a contract treats only instruments having force of law as "law", a government press release announcing a policy proposal does not amount to a change in law unless and until the competent statutory notification or instrument bringing the change into force is issued.
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