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New rights for employees
A number of new employment laws came into force in April 2024 to provide greater flexibility for employees, including enhanced flexible working rights and new leave entitlements.
South Africa | Publication | April 2024
With the “Two-Pot System” being the topic of conversation of all stakeholders of the pension fund industry, it is apt that National Treasury addressed the Finance Standing Committee, housed by the National Assembly, on 19 March 2024 with its responses to the public submissions received on the Pension Funds Amendment Bill. One of the main concerns raised by the public in relation to the Bill was the contradictions between the Pension Funds Act and the Divorce Act. In addition, there was concern on whether the “Two-Pot System” changes would also apply to public sector retirement funds as they are not governed by the Pension Funds Act.
National Treasury’s feedback to the Finance Standing Committee can be summarised as follows –
After noting Treasury’s responses to the public submissions, the Bill was adopted by the Finance Standing Committee on 22 Mach 2024. The Bill together with the report on the Bill was tabled and passed by the National Assembly on 27 March 2024. The Bill is now before the National Council of Provinces (NCOP) for concurrence. If the NCOP passes the Bill, as passed by the National Assembly, it will then be transmitted to the President for signature.
Further developments regarding the Bill and its implementation will follow.
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A number of new employment laws came into force in April 2024 to provide greater flexibility for employees, including enhanced flexible working rights and new leave entitlements.
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We are delighted to announce that Al Hounsell, Director of Strategic Innovation & Legal Design based in our Toronto office, has been named 'Innovative Leader of the Year' at the International Legal Technology Association (ILTA) Awards.
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On 18 September 2023, the CMA published its Initial Report (Initial Report) on AI Foundation Models (FM), supplemented in April 2024 with the publication of its “Update Paper” focused on potential antitrust risks associated with FMs and a “Technical Update Report” providing more detail on the development on FMs (collectively the “Reports”). Below, we consider these CMA publications.
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