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What M&A trends will transform the 2024 insurance landscape?
It is widely accepted that 2023 was one of the worst years in recent memory for M&A activity.
Global | Publication | July 2018
The Constitutional Court ruled on July 26, 2018 that the client becomes the sole employer of labour broker employees earning below the earnings threshold that provide services to the client in excess of three months. In doing so the Court upheld the much criticised judgment of the Labour Appeal Court in NUMSA v Assign Services and Others and finally put to bed the interpretational dispute arising from the 2015 amendments to the Labour Relations Act, 1995 (LRA).
Section 198A(3)(b) of the LRA provides that where the employee of a labour broker is no longer providing temporary services (which is generally defined as a placement at a client in excess of three months), the employee is deemed to be the employee of the labour broker’s client. There were two main schools of thought on the interpretation of this clause: either the labour broker remains the employer and the client is also considered to be the employer for the purposes of the LRA, or the labour broker is no longer the employer and the client is the sole employer. This has become known as the dual employer and sole employer interpretations.
The Constitutional Court has now held once and for all in favour of the sole employer interpretation. The Court made the following findings:
Given that this judgment relates to the interpretation of legislation that came into effect during 2015, this interpretation can be applied retrospectively to disputes that arose since 2015 and prior to this judgment. It remains to be seen how labour brokers and their clients respond to the adoption of this interpretation.
Publication
It is widely accepted that 2023 was one of the worst years in recent memory for M&A activity.
Publication
The ongoing conflicts and further geopolitical tensions in Eastern Europe and the Middle East, coupled with upcoming elections in a number of key countries including the US and the UK, make 2024 challenging to predict what impact this will have on the insurance sector.
Publication
On 6 September 2022, the European Commission (EC) prohibited Illumina’s acquisition of Grail, bringing to an end the administrative stage of a legal saga that has attracted interest beyond competition law specialists.
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