#GLOBALBENEFITSBULLETIN HIGHLIGHTS - AON

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#GLOBALBENEFITSBULLETIN HIGHLIGHTS - AON
#GlobalBenefitsBulletin Highlights
This document is intended for general information purposes only and should not be construed as advice
or opinions on any specific facts or circumstances. The comments in this summary are based upon Aon’s
preliminary analysis of publicly available information. The content of this document is made available
on an “as is” basis, without warranty of any kind. Aon disclaims any legal liability to any person or
organization for loss or damage caused by or resulting from any reliance placed on that content. Aon
reserves all rights to the content of this document.

                                               Key

       Retirement                  Talent                      Health                     Risk

#GBB Highlights | April 2021                        1
Table of Contents

                                               Respond
           Australia: Industrial Relation                 Saudi Arabia: Labour Reform
           (IR) Omnibus Bill update         ….…7          Initiative                     …..27

           Australia: Fringe benefit tax    ….…7          Saudi Arabia: Health Care
                                                          coverage                       .....27
           Bahrain: Wage Protection
           System                           …….8          South Korea: Amendment to
                                                          the Employee Retirement
           Belgium: Telework                              Benefit Security Act           ..…29
           registration                     …….9
                                                          Switzerland: New parental
           Czech Republic: Mandatory                      care leave                     .....30
           COVID-19 workplace testing       …..13
                                                          United Arab Emirates: Covid-
           Ireland: Family Leave and                      19 testing workplace
           Miscellaneous Provisions Act                   requirements                   …..31
           2021                             .....18
                                                          United Kingdom:
           Italy: Pension scheme                          Coronavirus Job Retention
           requirement changes              …..19         Scheme (CJRS) extended         ..…33

           New Zealand: Holidays                          United Kingdom: European
           (Bereavement Leave for                         Union Settlement Scheme        …..33
           Miscarriage) Amendment Act
           2021                             …..22         United Kingdom: Post-
                                                          Employment Notice Pay          …..33
           Oman: Wage Protection
           System                           …..23         United States of America:
                                                          Collection of 2019 and 2020
           Portugal: Law No. 16/2021        …..26         EEO-1 Component 1 Data         …..36

           Saudi Arabia: Professional
           Verification Program             …..26

#GBB Highlights | April 2021                          2
Table of Contents

                                                 Note

           Argentina: Return to work                    China: Pension increase         …..12
           guidance                       …..6
                                                        Colombia: Pension
           Australia: Social Services                   deductions                      .….13
           Legislation Amendment
           (Strengthening Income                        Colombia: Tax deduction for
           Support) Act                   …..6          hiring youth                    .….13

           Australia: Update health                     France: Partial activity
           guidance for health insurers   ..…8          allowance guidance              .….14

           Belgium: Withholding tax                     Germany: Unemployment
           exemption for employee                       benefits extended               .....14
           training                       .….9
                                                        India: Standard individual
           Brazil: New mandatory                        health insurance products
           coverage of health plans       .….10         guidelines                      .….15

           Brazil: Electronic                           India: COVID-19 adverse
           administrative process                       reaction covered under
           implemented                    …..11         policies                        ..…16

           Canada: Recovery Benefits                    India: Increase in investment
           Regulations/Regulations                      fees                            …..16
           amending the Canada Labour
           Standards Regulations          …..11         India: COVID-19 vaccination
                                                        guidance                        ..…17
           Canada: Emergency Wage
           Subsidy extension/Virtual      ..…11         India: Insurance Act
           health care                                  amendments                      …..17

           Channel Island: Minimum        .….11         Ireland: Code of Practice on
           wage                                         the right to disconnect         ..…17

           Chile: 2021 social security    .….12         Italy: Paternity Leave
           contributions                                increase                        …..18

           Chile: Employment Protection   .….12
           Law extended

#GBB Highlights | April 2021                       3
Table of Contents

                                                 Note

           Italy: Reduced social security                Switzerland: Three-day care
           contributions for hiring young                leave                         …..30
           workers and women                 ..…19
                                                         Turkey: Remote work
           Italy: Retirement measures                    regulation                    …..31
           extended                          …..20
                                                         United Kingdom: Changes to
           Italy: Taxation of incomes        .….20       immigration rules             …..32

           Italy: Protocol for vaccination               United Kingdom: Her
           business plans                    …..21       Majesty's Revenue and
                                                         Customs (HMRC) newsletter
           Mexico: Agreement on                          on Managing Pension
           outsourcing initiative            …..21       Schemes                       .….32

           Mexico: Minimum wage                          United Kingdom: Pension
           increase                          ..…22       Protection Fund (PPF)
                                                         Compensation Cap 2021/22      .....34
           Philippines: Covid-19
           vaccination workplace                         United Kingdom: Updated
           guidelines                        .….23       work-from-home guidance       .….35

           Philippines: New mandatory                    United States of America:
           provident fund                    .….24       Employer Health and
                                                         Welfare Provisions in the
           Switzerland: Code of                          American Rescue Plan          …..35
           Obligations                       .….26
                                                         United States of America:
           Singapore: Return to work                     National Emphasis Program
           guidance                                      to protect high-risk
                                             .….28       employees                     …..35
           South Africa: Retirement
           funds and emigration from                     United States of America:
           South Africa                      .….28       Frequently asked questions
                                                         (FAQs) on Mental Health
           Sweden: Doctor’s certificate                  Parity Compliance             …..36
           for carrier allowance             ..…29

#GBB Highlights | April 2021                         4
Table of Contents

                                                 Note

              United States of America: Model Consolidated Omnibus Budget
              Reconciliation Act (COBRA) Notices and frequently asked questions (FAQs) for
              American Rescue Plan Act (ARPA’S) Consolidated Omnibus Budget
              Reconciliation Act (COBRA) Subsidies                                           …..36

                                                 Watch

             Belgium: Proposal for paid short leave for vaccinations                          .....10

             Ghana: Insurance law 2020                                                        …..14

             Hong Kong: Increase statutory holidays                                           …..15

             India: Delay in implementation of labour codes                                   …..16

             New Zealand: Holidays Act Recommendations                                        …..22

             Poland: Open Pension Funds/Otwartych Funduszy Emerytalnych (OFE) Draft
             Law                                                                              …..25

             United Kingdom: Pregnancy and Maternity (Redundancy) Protection Bill 2019-
             21                                                                               …..34

             United Kingdom: Bill to protect workers from health and safety detriments        …..34

#GBB Highlights | April 2021                          5
Key Updates

  Argentina: Note

             Return to work guidance

  The Ministry of Health and the Ministry of Labour, Employment and Social Security have announced that employers may
  request employees to return to the workplace.
        •     Under Joint Resolution 4/2021, published in the Official Gazette, workers who have received the first dose
              of any authorized COVID-19 vaccination may return to “face-to-face” work regardless of age and risk status
              14 days after inoculation. Health workers "at high risk of exposure" may also return to the workplace after
              14 days of the second dose of the COVID-19 vaccination. The workers summoned must present a reliable
              record of vaccination or, as in an affidavit, state the reasons why they were unable to be vaccinated.
        •     The only exceptions to this measure are workers with certain medical conditions [i.e., those with congenital
              immunodeficiencies, functional or anatomical asplenia (including sickle cell anemia), severe malnutrition,
              and HIV (depending on status)].
        •     Workers who chose not to be vaccinated must "act in good faith" and do what is necessary to “alleviate”
              harm resulting from their decision.

  Australia: Note

             Social Services Legislation Amendment (Strengthening Income Support) Act

  The Social Services Legislation Amendment (Strengthening Income Support) Act No: 23 was given assent on March 22,
  2021. It provides for (from April 1, 2021):
        •     The maximum basic rates of "working age social security payments" will be permanently increased by $50
              per fortnight.
        •     The ordinary income-free area for JobSeeker Payment, Youth Allowance (Other), Parenting Payment
              (Partnered) and related payments will be permanently increased to $150 per fortnight.
        •     Some temporary measures in response to the Coronavirus pandemic will be extended until June 30, 2021,
              including the criteria for a person to qualify for youth allowance or jobseeker payment in circumstances
              where the person is in quarantine or self-isolation, or caring for a family member or household member in
              quarantine or self-isolation due to COVID-19; and the portability period for certain age pensioners and
              recipients of the disability support pension unable to return to, or depart from, Australia within 26 weeks
              due to the impact of COVID-19.

#GBB Highlights | April 2021                                   6
Key Updates

  Australia: Respond

             Industrial Relation (IR) Omnibus Bill update

  The Senate passed a pared down version of the Fair Work (FW) Amendment (Supporting Australia's Jobs and Economic
  Recovery) Bill 2021, ("IR Omnibus Bill").The government removed all but one Schedule from the IR Omnibus Bill which
  addresses changes to casual employment. The Bill made four key amendments to the FW Act:
        •     The inclusion of a definition for a "casual employee". Generally, an individual will be considered a casual
              employee based on an offer and acceptance of employment. An individual will remain a casual employee
              until they are either converted to a permanent role, or they accept an alternative employment offer that is
              not for casual employment.
        •     In circumstances where an employee has been incorrectly classified as a casual, rather than as a full - or part-
              time employee, employers will be able to offset any entitlements retrospectively claimed by the employee
              against the 25% casual loading that they have already paid to the employee.
        •     Casual employees will now have extended rights in relation to conversion from casual employment to
              permanent conversion after 12 months of employment. This now applies to all National System Employees,
              not just those employees who are covered by a Modern Award.
        •     Employers are required to provide their casual employees with a Casual Employment Information
              Statement either before, or as soon as practicable after they commence employment. It should include
              information on the meaning of casual employment and the right to casual conversion. The Statement will
              be prepared by the Fair Work Ombudsman.
        •     The bill in its reduced form has now been passed both by houses and received Royal Assent on March 26,
              2021. The Fair Work Amendment (Supporting Australia's Jobs and Economic Recovery) Act 2021 went into
              force on March 27, 2021.

  Australia: Respond

             Fringe benefit tax

  The fringe benefit tax (FBT) rate remains at 47% of the determined "gross -up taxable value" of the benefit provided
  from April 1, 2021, to March 31, 2022. The higher gross -up rate remains at 2.0802 and the lower gross-up rate remains
  at 1.8868 for the same time period as well. Also, the exemption threshold for FBT recordkeeping requirements is
  A$8,923 from April 1, 2021, to March 31, 2022. The Taxation Office has updated its guidance on this topic including the
  availability for employees living away from home to be eligible for reasonable food and drink expenses.

#GBB Highlights | April 2021                                     7
Key Updates

  Australia: Note

             Update health guidance for health insurers

  The Australian Prudential Regulation Authority (APRA) has updated the frequently asked questions (FAQs) for private
  health insurers on the application of the capital framework for COVID -19 related disruptions. The update is a result of
  the ongoing uncertainty associated with the impact of the pandemic on the private health insurance industry "as it
  continues to create difficulty" in valuing the Deferred Claims Liability (DCL). As of March 31, 2021, insurers can prepare
  their Deferred DCL provision independently. This guidance addresses the considerations and communication protocols
  required for an insurer to prepare a prudentially sound provision for the DCL.

  Bahrain: Respond

             Wage Protection System

  The law introducing the Wage Protection System was approved in July 2019 but was not implemented. The Labor
  Market Regulatory Authority has now announced the implementation of a Wage Protection System for the private
  sector under Decision Number 22 for the year 2021 (published in the Official Gazette No. 3516 on March 25, 2021). The
  system will be introduced in three phases, depending on the size of the employer, with phase one beginning May 1,
  2021.

  Details of the Wage Protection System are as follows:
        •     Requirements. Employers in the private sector must pay the salaries for their employees through any of the
              approved financial agencies in Bahrain to ensure that workers’ salaries are paid on time and according to
              the terms and conditions agreed upon in the employment contract.
        •     Penalties for non-compliance. It is expected that companies will face financial penalties for noncompliance
              and will be blocked from using the Labor Market Regulatory Authority portal, which allows them to file
              initial and renewal work permits.
        •     Phased approach. The Wage Protection System will be introduced in three phases, as follows, depending on
              the size of the employer: Phase 1 (500 employees and above May 1, 2021) Phase 2 (50 to 499 employees
              September 1, 2021) and Phase 3 (1 to 49 employees January 1, 2022).

#GBB Highlights | April 2021                                     8
Key Updates

  Belgium: Note

             Withholding tax exemption for employee training

  Royal Decree No. 2021040924 was published on March 18, 2021 in the Official Gazette. It has measures implementing
  an 11.75% withholding tax exemption for employers sending employees to 10 days of training in a calendar month. It
  also includes a measure establishing procedures for claiming the benefits. The Decree is applicable to remunerations
  paid or granted from January 1, 2021.

  Belgium: Respond

             Telework registration

  An online COVID-19 telework declaration obligation for employers has been implemented. From April 6, 2021,
  employers (except those who are closed due to government measures) are required to submit a monthly declaration
  through the National Social Security Office's (NSSO) online portal by the sixth calendar day.
        •     The declaration must include the total number of persons working for the company on the first day of the
              month; and the number of persons who hold a position for which teleworking is impossible on the first day
              of the month.
        •     If a company has several operating units, it must state the numbers for each operating unit.
        •     The data will be used by the social inspectorate for the inspection on compulsory teleworking. Employees
              whose functions allow for teleworking but who are present in the workplace must be able to justify their
              presence.
        •     The penalties for noncompliance include an administrative fine (from €200 to €2,000) or a criminal fine
              (from €400 to €4,000). The fines are multiplied by the number of employees for “whom an infringement is
              established”.

#GBB Highlights | April 2021                                  9
Key Updates

  Belgium: Watch

             Proposal for paid short leave for vaccinations

  A law (1849/004), recently approved by Parliament, has measures that provides paid short leave for workers in order to
  get vaccinated.
        •     From April 2021 until December 31, 2021 (with the possibility of extension until June 30, 2022), workers are
              entitled to paid leave for the time needed to get vaccinated including the time spent at the vaccination
              centre and the time needed to travel to and from the vaccination site.
        •     If the worker must get two injections during working hours, then short leave will be granted twice.
        •     The worker must notify the employer in advance of the time the vaccination is scheduled to receive pay.
        •     The employer can ask the workers to prove that they used their paid leave to get vaccinated. Workers will
              be required to show the document confirming the appointment including the time and place where the
              vaccination occurred.
        •     The employer may only use the obtained information for the purpose of organising work and ensuring
              proper payroll administration. The employer may only register the worker's absence as short leave without
              specifying the reason for the absence (i.e., for vaccination purposes).
  The law will be implemented after it is published in the Official Gazette.

  Brazil: Note

             New mandatory coverage of health plans

  The National Supplementary Health Agency has announced that the new mandatory coverage of health plans went into
  force on April 1, 2021. Normative Resolution (RN) No. 465/2021 updates the List of Procedures and Events in Health,
  which defines the list of consultations, exams, and treatments that health plans are required to offer according to
  assistance segmentation (outpatient, hospital with or without obstetrics, reference, or dental).
        •     With the update, 69 coverages were added to the List of Procedures (19 oral medications that cover 28
              indications for the treatment of various types of cancer; 17 immunobiologicals with 21 indications for the
              treatment of inflammatory, chronic, and autoimmune diseases, such as psoriasis, asthma, and multiple
              sclerosis; one medicine to treat a disease that leads to bone deformities; and 19 procedures between
              exams, therapies, and surgeries for diagnosis and treatment of diseases of the heart, intestine, spine, lung,
              breast, among others).
        •     The updates also include changes in Usage Guidelines (DUTs) and improvement of descriptive terms of
              procedures already listed in the "Rol" that aim to improve the wording and consolidate rules foreseen in
              understandings already disclosed.
        •     The List of Procedures is applicable to beneficiaries of health plans contracted from January 2, 1999, the so -
              called new plans, and for users of plans contracted before that date, but which were adapted to the Law of
              health plans.

#GBB Highlights | April 2021                                    10
Key Updates

  Brazil: Note

              Electronic administrative process implemented

  Normative resolution No. 464 has been adopted and the electronic administrative process has become mandatory as of
  March 31, 2021. Under the measure, which is part of the ANS Digital project, documents will have to submitted
  electronically; users can monitor processes in which to petition or to which they have access, users can receive
  electronic communication regarding procedural acts, complementary information or documents and signed contracts,
  agreements, terms, and other instruments; and users have the option to hold meetings using a videoconference system.

  Canada: Note

             Recovery Benefits Regulations/Regulations amending the Canada Labour
             Standards Regulations

  Aon’s weekly Radar (April 1, 2021) is available here.

  Canada: Note

             Emergency Wage Subsidy extension/Virtual health care

  Aon’s weekly Radar is available as of: April 8 th, April 15 th.

  Channel Islands: Note

             Minimum wage

  The Minister for Social Security has launched a consultation on the process for setting and “uprating” the minimum
  wage as part of the 2021 Government Plan. The consultation asks for views on several alternatives including how the
  minimum wage might be set in the future and the timing of the next minimum wage rate. Individuals may respond to
  the consultation until the end of May on the website.

#GBB Highlights | April 2021                                        11
Key Updates

  Chile: Note

             2021 social security contributions

  The Superintendency of Pensions has published the tax ceilings for calculating pension contributions for year 2021. From
  February 2021, the monthly taxable ceiling to calculate mandatory contributions of the Pension Fund (AFP), Health
  Insurance and Labor Accident law system remains at 81.6 UF. The taxable ceiling for unemployment insurance is 122.6
  UF. The new amounts will be applied to the pension contribution payments corresponding to the salaries of February
  2021 to the end of the year.

  Chile: Note

             Employment Protection Law extended

  The Chamber of Deputies has approved an extension of benefits provided for in the Employment Protection Law. Until
  December 2021:
        •     Employment agreements cannot be terminated on grounds of force majeure because of the COVID -19
              pandemic.
        •     Employees may be eligible for unemployment insurance in the event of a suspension of the employment
              agreement by act of authority; when there is an agreement between employers and employee to
              temporarily suspend the employment agreement; and when there is an agreement pact temporarily
              reducing work schedule.
  In addition, the extension grants a maximum of nine additional drafts charged to the Solidarity Unemployment Fund
  (FCS) of the Unemployment Insurance. (Workers could receive up to a maximum of 21 transfers from the FCS).

  The regulations also indicate that the deadline for the Superintendency of Pensions and the Directorate of Budgets
  (Dipres) to issue a report to determine any additional remuneration of the Unemployment Fund Administrator (AFC) will
  be extended until January 2022.

  China: Note

             Pension increase

  The Ministry of Human Resources and Social Security has announced that it will increase the basic pension payments for
  retirees in 2021. The average monthly payment for pensioners of enterprises will increase by 4.5%. In 2020, the amount
  increased by 5%. This is the 17th consecutive year of increase for pension payments. However, it has been reported that
  the government has announced plans to gradually increase the mandatory retirement age to offset a funding shortfall.
  The current statutory retirement age is 60 for male workers and 50 for female workers.

#GBB Highlights | April 2021                                  12
Key Updates

  Colombia: Note

             Pension deductions

  The Ministry of Labour issued Decree 376 of 2021 on April 9, 2021. It contains measures regarding the payment of
  contributions to the General Pension System for the months of April and May 2020. The Decree addresses a ruling by
  the Constitutional Court that declared the unenforceability of Legislative Decree 558 of 2020, which released employers
  and independent workers from making the said contributions. Also, the Decree indicates that once the contribution
  amounts are made, the amounts may be deducted from the “income and complementary tax of the taxable year in
  which the tax is paid”.

  Colombia: Note

             Tax deduction for hiring youth

  The Ministry of Labor has announced that employers will receive tax deductions (up to 120% of payments made for
  salary) if they hire young individuals between age 18 and 28. Requirements for the deduction include:
        •     The employer must be a taxpayer required to file income tax and supplementary returns.
        •     They are required to make payments for salaries to employees under the age of 28 hired after the entry into
              force of Law 2010 of 2019.
        •     It must be a new employment and be the person’s first job. The employer must obtain the certification of
              the Ministry of Labor stating such.

  Czech Republic: Respond

             Mandatory COVID-19 workplace testing

  The government has extended the obligatory testing of employees to employers employing with between 10 and 49
  employees.
        •     Employers must secure for employees antigen COVID-19 tests performed by a provider of medical services
              or tests suitable for self-testing to determine the presence of the SARS-CoV-2 virus antigen, on a weekly
              basis.
        •     Employees should start to undergo tests, as instructed by the employer.
        •     Employers cannot allow employees in the workplace if they have not taken a COVID -19 test with a negative
              result in the last seven calendar days (limited exceptions are applicable; i.e., workers who are fully
              vaccinated 14 days after the last dose) as of March 26, 2021.
        •     Employees working from home are not required to be tested. However, if such employees plan to come to
              the workplace, or visit a client, a test is required.
        •     The employer is responsible for the costs for the tests but may claim a contribution from the health
              insurance company (up to CZK 60 per test).

#GBB Highlights | April 2021                                  13
Key Updates

  France: Note

             Partial activity allowance guidance

  Decree 2021-435 of April 13, 2021, published on April 14, 2021, in the official journal, covers the rates and methods of
  calculating the compensation and the partial activity allowance. Specifically, it modifies the allowance rate paid to the
  employer for employees or parents of a child under the age of 16 or of a disabled person “subject to a measure of
  isolation, eviction or home support” and not able to continue working.

  Highlights include:
        •     A working parent of a child under age 16 who is unable to continue working may be eligible for partial
              activity (Art. 20 I. Law n ° 2020-473).
        •     The employee will receive a partial activity allowance equivalent to 70% of their gross remuneration limited
              to 4.5 times the hourly rate of the minimum wage (Art. 9 I. Decree 2020-1786).
        •     The employer will receive from the government a partial activity allowance (Art. 9 I. Decree 2020-1786)
              (limited to 70% of the same remuneration, previously 60%), the hourly rate of which could not be less than
              € 8.11.
        •     These new provisions are retroactive to April 1, 2021.

  Germany: Note

             Unemployment benefits extended

  The government has announced that it is extending the increase in emergency assistance to the level of unemployment
  benefit until the end of June 2021 due to the pandemic. Those affected will receive an additional 55 euros per month
  from the increase.

  Ghana: Watch

             Insurance law 2020

  The Insurance Law, 2020, received presidential assent in February 2021. It contains measures mandating the purchase of
  certain types of insurance; and strengthening internal governance requirements and the supervisory framework for
  insurers. Highlights include:
        •     Employers with 15 or more employees must take out a group life insurance policy covering all employees.
              The level of coverage is not specified.
        •     Employers with 15 or more employees are now required to insure their liability for workmen’s
              compensation (under the Workmen’s Compensation Act 1987). Previously, employers had the option to
              self-insure.
  The National Insurance Commission is expected to issue regulations for the implementation of the new law.

#GBB Highlights | April 2021                                    14
Key Updates

  Hong Kong: Watch

             Increase statutory holidays

  The Employment (Amendment) Bill 2021 (the "Bill") has measures amending the Employment Ordinance. Currently,
  there are 12 statutory holidays (mandatory for all employees) and five general holidays (public holidays applicable to a
  limited group). The Bill would make the five public holidays mandatory for all employees by reclassifying them as
  statutory holidays. The measures would increase the number of statutory holidays from 12 days to 17 days in five stages
  from 2022 to 2030.

  *The five additional statutory holidays include the Birthday of the Buddha, being the eighth day of the fourth lunar
  month (effective from January 1, 2022); the first weekday after Christmas Day (effective from January 1, 2024); Easter
  Monday (effective from January 1, 2026); Good Friday (effective from January 1, 2028); and the day following Good
  Friday (effective from January 1, 2030).

  *Employers providing only statutory holidays (rather than public holidays) to their employees, would have to revise
  their policies in the interim years to ensure that they grant all applicable statutory holidays to their employees.

  *After the changes have been fully implemented, there will no longer be any distinction between statutory holidays and
  public holidays.

  The first reading of the Bill took place on March 17, 2021.

  India: Note

             Standard individual health insurance products guidelines

  To enhance health insurance coverage, the Insurance Regulatory and Development Authority of India (IRDAI) has issued
  a circular regarding modifications in guidelines on standard individual health insurance products which announces the
  changes to coverage.
        •     The IRDAI has reduced the minimum limit of coverage for health insurance to Rs 50,000 while raising the
              maximum limit to Rs 10,00,000 lakh under standard health insurance policies.
        •     Insurers are required to comply with these coverage amounts under the standard product Arogya
              Sanjeevani policy effective May 1, 2021, or earlier. The Arogya Sanjeevani Policy is a standardised insurance
              product offering to take care of the basic requirements of policyholders. It covers hospitalisation, pre - and
              post-hospitalisation, AYUSH treatment, and cataract treatment.
        •     Insurers may launch the modified version of the Arogya Sanjeevani Policy after filing the same on
              certification basis.

#GBB Highlights | April 2021                                    15
Key Updates

  India: Note

             COVID-19 adverse reaction covered under policies

  The Insurance Regulatory and Development Authority of India (IRDAI) has announced that a policyholder hospitalized
  due to any adverse reaction resulting from the COVID 19 vaccination will be covered under health insurance policies
  subject to the specific terms and conditions of the policy. The notification clarifies that any such affected person in need
  of hospitalisation will be treated like persons with any other aliment and the services offered by their respective
  insurance company.

  India: Note

             Increase in investment fees

  The Pension Fund Regulatory and Development Authority (PFRDA) has revised the existing Investment Management
  Fees (IMF) charged by the pension funds in the National Pension System (NPS). The charges were increased from April 1,
  2021.
        •     The fees have been increased to and capped at 0.09% (depending on the total asset under management
              (AUM) of the pension fund). Previously the fees were 0.01% of the asset.
        •     The revised revenue structure for the pension funds will be a staggered -based model under which
              “different slabs of the management fee will be applicable on different slabs of AUMs”.
        •     According to these slabs, for AUMs up to Rs 10,000 crore, the maximum investment management fee will
              be 0.09%; from Rs 10,001 to Rs 50,000 crore, the fee has been capped at 0.06%; from Rs 50,001 to Rs
              1,50,000 crore at 0.05%, and for AUMs crossing Rs 1,50,000 crore, the management fee will be 0.04%.
        •     The new slab-wise structure will be applicable to the pension funds where “fresh certificates of registration”
              have been issued by the pension regulator on March 30, 2021.
        •     The Investment Management Fees to be charged by the pension fund will be on the aggregate AUM of the
              pension fund under all schemes and is levied daily.

  India: Watch

             Delay in implementation of labour codes

  The Labour Ministry has announced that the implementation of the new wage code that will change how salaries are
  structured has been deferred along with the social security code; the code on industrial relations; and the code on
  occupational safety, health, and working conditions. The original implementation deadline was the beginning of the new
  fiscal year (i.e., April 1, 2021) for the codes. The new wage code mandates that your basic pay should be at least 50% of
  the total cost to the company (CTC).

#GBB Highlights | April 2021                                    16
Key Updates

  India: Note

             COVID-19 vaccination guidance

  The Ministry of Health and Family Welfare has published Guidance on COVID-19 Vaccination at Work Places
  (Government & Private). From April 11, 2021, it allows employers to organize COVID-19 vaccinations in the workplace
  (which have approximately 100 eligible individuals willing to be vaccinated). The guidance covers how the workplaces
  will be selected; who can be vaccinated (i.e., workers age 45 years and above registered with Co -WIN; no family
  members); registration requirements for the workplace; deployment of the vaccination team; and monitoring.

  India: Note

             Insurance Act amendments

  Parliament has passed amendments to the Insurance Act. Measures in the Insurance (Amendment) Act 2021, No. 6 of
  2021 include:
        •      Under Section 2(7A)(b), the limit of foreign investment allowed in Indian insurers cannot exceed 74%
               (previously 49%).
        •      The requirement (in Section 27(7)) for insurers incorporated in India to hold assets in trust where at least
               33% capital is owned by investors domiciled outside India; or 33% of the members of the governing body
               are domiciled outside India are eliminated.
        •      Additionally, the requirement for insurers to be Indian owned and controlled has also been eliminated.
               However, such foreign investment may be subject to additional conditions as prescribed by the central
               government.
        •      The amended measures went into force on April 1, 2021.

  Ireland: Note

             Code of Practice on the right to disconnect

   The Workplace Relations Commission (WRC) has published its Code of Practice on the right to disconnect from work
   outside normal working hours. It is an extension of existing employment law rights. Codes of Practice in Ireland are not
   legally binding of themselves but can be used in evidence against employers in claims for breach of employment rights.
   Under the Code of Practice, effective April 1, 2021, employees have the right to disconnect’ from work and not engage
   in electronic communications outside of their normal hours (i.e., work-related emails, telephone calls, or other
   messages); and a right not to be penalized for refusing work outside normal working hours. However, the Code
   recognizes that there may be occasional legitimate situations where business and operational reasons require contact
   out of normal working hours. Also, there is a duty to respect another person’s right to disconnect.

#GBB Highlights | April 2021                                     17
Key Updates

  Ireland: Respond

             Family Leave and Miscellaneous Provisions Act 2021

  The Family Leave and Miscellaneous Provisions Bill 2021 was passed and came into effect from March 25, 2021. Under
  the Family Leave and Miscellaneous Provisions Act 2021 :
        •     The Adoptive Leave Act 1995 has been amended and enables couples to choose which of them will use the
              leave (Paternity Leave and benefit will be available for the other parent).
        •     The Act also amends the Parent’s Leave and Benefit to extend it by three more weeks (bringing the total
              Parent’s Leave up to five weeks to be taken within the first two years of their child’s life). This is applicable
              for parents of children born from November 1, 2019. The Benefit will be paid at the same rate as maternity,
              paternity, and adoptive benefits (€245 per week).
        •     The period in which the leave and benefit can be taken under the Act will be extended so that parents can
              now take the leave and avail of the benefit for up to two years from the birth or adoption of the child.
        •     Adoptive Leave and the benefit will be extended to male same -sex couples.

  Italy: Note

             Paternity Leave increase

  Law No. 178/2020 (2021 Budget Law) contains measures extending social benefits and providing new ones. Highlights
  include:

  Paternity Leave
        •     Paid paternity was increased to 10 days (from seven) this year.
        •     The leave must be taken within five months following the birth, adoption, or fostering of a child. There is an
              option to add another day if the mother gives up one day of her maternity leave.
        •     Also, the Budget Law has extended the mandatory and optional paternity leave to cases of perinatal death.
  Baby Bonus (‘Bonus Bebé’ [assegno di natalità])

  The Baby Bonus (paid exclusively until the child's first year of age, or within the first year of entry into the family unit
  following adoption) has been extended, with unchanged requirements, for the year 2021 for each child born or adopted
  from January 1, 2021, to December 31, 2021.

  Bonus for Mothers With Disabled Children

  There is a new support tool for unemployed or single -income mothers in single-parent households with dependent
  children who are disabled (with a recognized disability of not less than 60%). The Bonus for Mothers consists of a
  monthly contribution up to a maximum of 500 euros net for each of the years 2021, 2022, and 2023.

#GBB Highlights | April 2021                                     18
Key Updates

  Italy: Note

             Reduced social security contributions for hiring young workers and women

  There are measures under the Budget Law 2021, that encourage hiring workers under age 36 with permanent contracts.
        •     Employers are fully exempted from paying the social security contributions up to a maximum of 6,000 euros
              per year from January 1, 2021 until December 31, 2022.This excludes premiums and contributions to INAIL
              (National Institute for Insurance) January 1, 2021 until December 31, 2022.
        •     The incentive lasts for a period of three years. (Four years for recruitment in specific units located in regions
              of south Italy).
        •     It applies to employers who have not dismissed individual workers for justified reasons or collectively
              dismissed workers (i.e., those classified with the same qualification in the same production unit) six months
              prior to the recruitment or in the nine months following it.
  Also, there are measures with incentives to hire women with fixed-term employment contracts from 2021 through
  2022. Employers would be eligible for a 100% exemption from paying social security contributions (excluding bonuses
  and INAIL contributions) for a maximum of 12 months. The duration may increase to 18 months when companies hire
  female workers with permanent contracts or if they transform the fixed-term contract into a permanent one. The
  maximum amount of the incentive is of 6,000 euros per year and the employee must be employed for at least 24
  months (six months if the worker resides in a region of south Italy).

  Italy: Note

             Pension scheme requirement changes

  Measures in the 2021 Budget Law (Law No. 178 of 2020, paragraph 350) make changes to the pension scheme for
  vertical part-time employment contracts. Such contracts are to be considered “in their entirety” when determining
  whether a worker meets the employment seniority requirements to be entitled to a pension benefit. Periods not
  involved in actual working activity under these contracts are to be included in the calculation of seniority when
  calculating the pension requirements. Previously, the National Institute of Social Security (INPS) took the view that only
  periods of actual work should be considered in the calculation.

#GBB Highlights | April 2021                                     19
Key Updates

  Italy: Note

             Retirement measures extended

  Measures in the 2021 Budget Law (Law No. 178 of 2020) concerning retirement were extended until December 31, 2021.
        •     Under the 2021 Budget Law (paragraph 336), the Women’s Option (Opzione donna) scheme was extended.
              The scheme provides for employed workers who have reached the age of 58 and have accrued 35 years of
              contributions by December 31, 2020, to retire early (INPS Message no 217 of 01/19/2021).
        •     The Law (paragraphs 339 and 340) also extends measures of the Early Retirement Allowance (APE sociale).
              Under the Early Retirement Allowance, there is an early retirement provision aimed at certain categories of
              workers (i.e., those whose “nature of work” is considered onerous). The requirements for access remain
              unchanged. For women with children, there is a "contribution discount" for access to the allowance,
              amounting to 12 months for each child, with a maximum of 24 months (Women's Early Retirement
              Allowance).
  Additionally, measures in the 2021 Budget Law (paragraph 345) extends the early retirement Iso -pensione. Until
  December 31, 2023, it is possible for certain employees to be granted an early retirement in the case where they reach
  the minimum pension requirements within seven years from the date of termination of the employment relationship.
  The employer will continue to pay the worker a benefit equal to the pension they would be entitled to under the current
  rules (the employer will pay the relative contributions to INPS).

  Italy: Note

             Taxation of incomes

  The Ministry of Labour and Social Policies, in cooperation with the Ministry of Economy and Finance, has issued
  Ministerial Decree of 23 March 2021 (on Deemed Income for Employment Exercised Abroad) which was published in
  Official Gazette No. 83 of April 7, 2021. It provides the amounts of deemed remuneration for employment exercised
  abroad to be considered in determining social security contributions and individual income tax due in Italy for tax year
  2021. The amounts of deemed remuneration vary depending on the industry and the role of the employee.

#GBB Highlights | April 2021                                    20
Key Updates

  Italy: Note

             Protocol for vaccination business plans

  On April 6, 2021, the government and social partners signed agreed upon protocols concerning COVID -19 in the
  workplace.

  The National Protocol for the implementation of business plans aimed at activating extraordinary anti-SARS-CoV-2 /
  Covid-19 vaccination points in the workplace regulates the methods of administration by COVID-19 vaccine companies.
  Highlights include:
        •     It applies to companies regardless of the number of workers employed and aims to solidify the commitment
              of employers to the direct vaccination of workers in the workplace.
        •     It covers all workers, regardless of the type of contract they have with the employer.
        •     When drafting, employers must discuss the proposed plans with the COVID-19 Committee, or with other
              company bodies provided for in the sector Protocols.
        •     The proposed business plans must then be submitted to the Health Authority (in full compliance with the
              Protocol and any specific requirements issued by the Regions and Autonomous Provinces for the territories
              of respective competence).
        •     For direct vaccination, the Protocol then states that the costs for the creation and management of business
              plans, including the costs for administration, are entirely borne by the employer, while the supply of
              vaccines, devices for administration (syringes/needles), and the provision of the training tools provided and
              the tools for recording vaccinations performed remain the responsibility of the territorially competent
              Regional Health Services.
        •     The Protocol clarifies that if the vaccination is carried out during working hours, the time necessary for the
              vaccination will be considered working hours.

  Mexico: Note

             Agreement on outsourcing initiative

  On April 5, 2021, the Secretariat of Labor and Social Welfare announced that an agreement was reached on outsourcing
  an initiative between the labor, business, and government sectors. Bulletin Number 041/2021 includes the agreed upon
  measures:
        •     The prohibition of personnel outsourcing;
        •     The regulation of the outsourcing of specialized services other than the corporate purpose and the main
              economic activity of the contracting company;
        •     Registration with the Secretariat of Labor and Social Welfare and registration in the public registry of
              companies outsourcing specialized services and works;
        •     Joint and several liability in the event of noncompliance; and
        •     The granting of a three-month term for outsourced workers to become part of the actual employer's
              payroll.

#GBB Highlights | April 2021                                   21
Key Updates

  Mexico: Note

             Minimum wage increase

  A decree, published on March 30, 2021, in the Official Gazette of the Federation, amending the Federal Labour Law
  went into force on March 31, 2021. Under the decree, the minimum wage must be enough to satisfy “the normal needs
  of one or a head of the family in the material, social and cultural order, and to provide for the compulsory education of
  the children”. The adjustments to the annual minimum wage, or its revision, should never be below the inflation rate
  that corresponds to that specific period, to ensure that workers have a competitive and sufficient salary to satisfy their
  needs and those of their families.

  New Zealand: Watch

             Holidays Act Recommendations

  The Minister for Workplace Relations has announced that the recommendations in the Holidays Act Taskforce report has
  been accepted by the government. Highlights include:
        •     There is a recommendation to change the annual leave and FBAPS (Family Violence, Bereavement,
              Alternative Days, Public Holidays, and Sick) leave payment. Annual leave will be paid at the greater of
              Ordinary Leave Pay (base rate plus any scheduled overtime, allowance, commission, and incentive
              payments); average weekly pay for the last 13 weeks; or average weekly pay for the last 52 weeks. FBAPS
              leave will be paid at the greater of Ordinary Leave Pay or Average Daily Pay.
        •     There are also recommendations covering the FBAPS leave entitlement including allowing sick leave and
              family violence leave to be taken in units of less than a day (with a minimum of a quarter day); employees
              would be entitled to bereavement and family violence from day one; the parental leave override would be
              removed; and bereavement leave would be expanded to cover a more modern interpretation of family.
        •     Recommendations covering annual leave entitlement would allow employees to take annual leave in
              advance on a pro-rata basis; the parent would be paid at their full rate for annual leave on returning from
              parental leave; and the definition of "gross earnings" would also cover “all cash payments received, except
              for direct reimbursement for costs incurred”.

  New Zealand: Respond

             Holidays (Bereavement Leave for Miscarriage) Amendment Act 2021

  The Holidays (Bereavement Leave for Miscarriage) Amendment Act 2021 (2021/10) was given assent on March 30, 2021.
  Under the Bereavement Leave for Miscarriage Bill, working parents would be eligible for up to three days paid leave,
  without having to use sick leave, after a miscarriage or stillbirth. While employers were already required to provide paid
  leave in the event of a stillbirth (when a fetus is lost after a gestation of 20 weeks or more) the legislation expands leave
  to anyone who loses a pregnancy at any point. The Act applies to parents, their partners, and parents planning to have a
  child through adoption or surrogacy. It does not apply to those who terminate their pregnancies. The Act went into
  force on March 31, 2021.

#GBB Highlights | April 2021                                     22
Key Updates

  Oman: Respond

             Wage Protection System

  The Ministry of Manpower and the Central Bank of Oman have announced the implementation of the Wage Protection
  System from February 28, 2021. The aim of the System is to control the payment of salaries to ensure their timely
  delivery according to the terms and conditions agreed between the parties in the employment contract. All private -
  sector companies will be required to disburse their employees’ salaries electronically through the Wages Protection
  System. Employers that violate the Wage Protection System rules may face suspension of immigration - and labor-
  related transactions. The government has published FAQs, regarding the System.

  Philippines: Note

             Covid-19 vaccination workplace guidelines

  The Department of Labor and Employment has issued Labour Advisory No. 03 -21 (Labor Advisory No. 03-21 Guidelines
  on the Administration of COVID-19 Vaccines in the Workplaces).
        •     The Guidelines are applicable to all establishments and employers in the private sector that administer
              COVID-19 vaccines in the workplaces.
        •     They are required to adopt and implement the appropriate vaccination policy in the workplace as part of
              their occupational safety and health program (consistent with guidelines issued by the Department of
              Health and the Inter-Agency Task Force (IATF)).
        •     Covered establishments and employers should encourage employees to get vaccinated but may not
              discriminate against them in terms of tenure, promotion, training, pay, and other benefits or termination if
              they refuse (or fail) to do so. A “no work policy” will be allowed.
        •     The cost of the vaccination in the workplace is free to employees.

#GBB Highlights | April 2021                                   23
Key Updates

  Philippines: Note

             New mandatory provident fund

  The Social Security System (SSS) has introduced a new mandatory provident fund which went into force on January 1,
  2021. The Workers' Investment and Savings Program (WISP) supplements the country's social insurance program. Key
  provisions of the law include:
        •     All workers participating in the SSS social insurance program with monthly covered earnings of 20,250 pesos
              or above are automatically enrolled in WISP. (SSS coverage is mandatory for private -sector employees,
              household workers, and self-employed persons, and voluntary for Filipino citizens working abroad, persons
              who previously had mandatory coverage, and nonworking spouses of insured persons.)
        •     For workers in the top 10 income classes (those with earnings of 20,250 pesos or above), a portion of their
              contributions (4.5% of gross monthly earnings) will be allocated to WISP. For 2021, the employer WISP
              monthly contribution ranges from 42.50 pesos to 425 pesos and the employee monthly contribution ranges
              from 22.50 pesos to 225 pesos.
        •     The SSS plans to invest at least 75 % of fund members' assets in low-risk government securities and the
              remaining portion in blue-chip corporations. Investment returns are tax free, and the principal is protected
              by the government.
        •     At retirement, a fund member's total accumulated assets are converted into an annuity that is paid out over
              at least 15 years. In the event of a fund member's death, the member's total account balance is paid as a
              lump sum to designated beneficiaries. Early withdrawals from WISP accounts are not permitted.

#GBB Highlights | April 2021                                  24
Key Updates

  Poland: Watch

             Open Pension Funds/Otwartych Funduszy Emerytalnych (OFE) Draft Law

  The Cabinet has adopted a draft law that would eliminate the second pillar of privately managed individual accounts.
  The account balances of participating workers (currently held by open pension funds (Otwartych Funduszy
  Emerytalnych, or OFEs) would be transferred to the public first-pillar notional defined contribution (NDC) program or to
  third-pillar voluntary individual accounts (Indywidualne Konta Emerytalne, or IKEs).

  Key provisions include:
        •     By default, all OFE account balances will be transferred to IKEs. Workers who prefer to transfer their OFE
              account balances to the NDC program must make the request between June 1 and August 2, 2021.
        •     OFE account balances transferred to IKEs will be subject to a 15 % conversion fee (divided over two
              installments in 2022). Withdrawals from IKEs at retirement are tax-exempt. No conversion fee is charged for
              workers who transfer their OFE account balances to the NDC program, but their pensions will be subject to
              personal income taxes.
        •     Similar to current IKE participants, workers who transfer their OFE account balances to IKEs will be able to
              withdraw their IKE balances as lump sums or periodic payments. Current IKE assets may be withdrawn prior
              to retirement (with penalties), however, assets transferred from OFEs may only be withdrawn upon
              reaching the normal retirement age of 65 (men) or 60 (women). Workers who transfer their OFE account
              balances to the NDC program will receive higher NDC old age pensions.
        •     Assets transferred to IKEs will be private and inheritable while those transferred to the NDC program will
              not.
        •     If approved by parliament and signed by the president, the new draft law would go into effect on June 1,
              2021.
        •     The transformation of open pension funds into specialized open-end investment funds will take place on
              January 28, 2022. The transformation fee for the Social Insurance Fund, calculated on the value of assets
              transferred to IKE, is to be collected in January and October 2022.

#GBB Highlights | April 2021                                   25
Key Updates

  Portugal: Note

             Law No. 16/2021

  Law No. 16/2021 of 7 April, published in Diário da República, changes the rules relating to the “exceptional support” to
  family members “during the periods of school interruption”.
        •     Under the new rules, employees are entitled to “exceptional support” to the family to aid a child or other
              dependent, as a result of the suspension of teaching and non -teaching activities by the health authority or
              by the Government under certain conditions. The support covers:
        •     Single-parent families with a child or dependent (under age 12). The parent has a choice to either
              participate in the teleworking scheme or receive exceptional support to the family.
        •     Families with at least one child or dependent (under 12 years). One parent may opt for exceptional support
              to the family, even though teleworking is possible and even if the other parent is teleworking.
        •     Families with children or dependents with a disability or chronic illness. One parent can opt for exceptional
              support to the family, even though teleworking is possible and even if the other parent is telecommuting.
        •     The exception support is equivalent to 2/3 of the worker's basic remuneration (declared in December 2020).
              The employer is responsible for 50% and Social Security pays the remaining 50%.
        •     This support cannot be combined with other existing support, created due to the COVID -19 pandemic.
        •     The rules regarding the value of exceptional support to the family, the procedure that must be followed by
              the employee and by employers, and the Social Security contributions and contributions regime remain
              unchanged.
  These new rules went into effect on April 8, 2021.

  Saudi Arabia: Respond

             Professional Verification Program

  The Ministry of Human Resources and Social Development (MHRSD) has launched the “Professional Verification”
  programme, in cooperation with the Ministry of Foreign Affairs and the Technical and Vocational Training Corporation.
  The programme aims to verify that all skilled workers have the required skills to effectively perform the occupation they
  were recruited for. This will also include practical and theoretical examinations in the workers’ specialised fields. The
  programme will be gradually enforced commencing July 2021, depending on the company size; however, employers are
  able to register for the programme from March 8, 2021.

#GBB Highlights | April 2021                                   26
Key Updates

  Saudi Arabia: Respond

             Labour Reform Initiative

  The Ministry of Human Resources and Social Development (MHRSD) published the Labour Reform Initiative (LRI), in
  November 2020 which includes labour reform measures that came into force on March 14, 2021. Under the measures:
        •     Private-sector employees will be allowed to change employment without consent from their current
              employer once their employment contract expires or during the validity of the contract under certain
              conditions (i.e., if the current employer approves the transfer; does not provide a notarized employment
              contract within three months from the employee’s entry date; does not pay the employee’s salary for at
              least three consecutive months; is absent due to travel, imprisonment or other reasons; and when the
              employee’s work permit or residence permit has expired and has not been renewed by the employer).
        •     Expatriate workers will be allowed to exit and re -enter (during the period in which the contract is valid)
              without obtaining prior permission from their employer. The worker must apply through the Absher
              platform.
        •     Also, the government will now be strictly enforcing the requirement for all private-sector employment
              contracts to be digitized through the MHRSD Qiwa online platform.

  Saudi Arabia: Respond

             Health Care coverage

  The General Secretariat of the Council of Cooperative Health Insurance has announced that all private-sector companies
  are required to provide insurance coverage for their employees and all family members covered by the system (i.e.,
  wives, male children up to age 25, and unmarried and unemployed daughters).
        •     The health insurance policy should cover the minimum limit of benefits through a qualified insurance
              company.
        •     The insurance coverage should include the period of experience so that the private -sector employees are
              eligible for coverage on day one of work.
        •     If both spouses work in the private sector, children will be eligible for insurance coverage by the husband’s
              employer.
        •     The worker in the private sector does not “bear any amounts to pay the value of health insurance” for any
              family members covered by the system.

#GBB Highlights | April 2021                                   27
Key Updates

  Singapore: Note

             Return to work guidance

  The Ministry of Health and Tripartite Partners (Ministry of Manpower, Singapore National Employers Federation and
  National Trades Union Congress) have announced that employees will be allowed to return to the workplace from April
  5, 2021. Under the updated guidance:
        •     Up to 75% of employees (who are presently able to work from home) can now be at the workplace at any
              one time (up from the current 50%).
        •     The current cap on the time an employee spends at the workplace will end. Staggered start times and
              flexible working hours should continue where possible to lower transmission risks.
        •     Restrictions against cross-deployment across workplaces remain.
        •     Social and recreational gatherings (i.e., team bonding events organized by the employer) will be allowed but
              will be limited to a total size of no more than eight people.
        •     Employers must continue to implement the prevailing safe management measures (i.e., regular cleaning of
              common spaces, demarcating safe physical distancing, and mask wearing always).
        •     Employers who fail to comply with the safe management measures can face enforcement actions.

  South Africa: Note

             Retirement funds and emigration from South Africa

  A provision under the Taxation Laws Amendment Act, 2020 (Act No. 23 of 2020) covers rules relating to individuals who
  have emigrated for Exchange Control Purposes and who applied prior to March 1, 2021. Under the Act:
        •     From March 1, 2021, taxpayers will be able to access their Retirement Fund benefits if they can prove that
              they have been a non-resident for tax purposes for an uninterrupted period of three years.
        •     The taxpayer must have notified the South African Revenue Service (SARS) that they are no longer residents
              and provide the relevant Fund with the proof (to their satisfaction) that they fulfill the requirements for
              getting access to the retirement funds.
        •     Such proof will include a residency certificate from the foreign jurisdiction. The fund will then apply for a tax
              directive. SARS will be validating the no residency status on receipt of the directive application.
        •     Further details will be provided once the system for the directive application goes live on April 23, 2021.
  However, individuals still can withdraw their retirement funds under the current process. When a fund member
  emigrates from South Africa and the emigration is recognized by the South African Reserve Bank for exchange control
  purposes, the existing test for payment of lump-sum benefits will apply in respect to applications received on or before
  February 28, 2021 and approved by SARB (or an authorized dealer in foreign exchange) on or before February 28, 2022.

#GBB Highlights | April 2021                                     28
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