Last Friday, March 27, we published CARES Act: Paycheck Protection Loans and Eligibility for Loan Forgiveness. This alert is intended to provide an update concerning implementation of the Paycheck Protection Loan application process. The SBA has posted a Paycheck Protection Application Form on its website. Since the loans will be funded by private SBA lenders, and guaranteed by the SBA, most borrowers are lining up with private SBA lenders now ...
On March 31, 2020, Alameda, Contra Costa, Marin, San Francisco, San Mateo, and Santa Clara counties plus the City of Berkeley issued new Shelter-in-Place orders, further restricting construction and extending Shelter-in-Place restrictions until May 3, 2020. Under the new orders, most construction, including residential and commercial, is now prohibited. Healthcare, low income housing, specially designated public works projects, shelters, and temporary housing projects may continue ...
The United Nations has issued a “Global Call to Creatives” (the “Call”) asking content creators, influencers, advertisers, and others to help in translating public health messages “into work that will engage and inform people across different cultures, languages, communities and platforms ...
In response to the Coronavirus pandemic, the President signed H.R. 748, known as the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act on March 27, 2020. The bill provides more than $2 trillion of aid to individuals and the public and private sector ...
On March 31, 2020, the Treasury Department and Small Business Administration (“SBA”) released initial guidance and a sample application form for the Paycheck Protection Program (“PPP”), the small business loan program established pursuant to theCoronavirus Aid, Relief, and Economic Security (“CARES”) Act signed by President Trump on March 27, 2020 ...
(continuation from Part I - separate article) Part II - "Antivirus Programme" - Financial Assistance to Czech Employers The Ministry of Labour and Social Affairs was mandated by the Government to further prepare a compensation program for entrepreneurs who continue to operate but whose production has decreased due to measures (category C of the Antivirus Programme) ...
On 27 March 2020, the Minister of Mineral Resources and Energy (the “Minister”) published the Amendments to the Mineral and Petroleum Resources Development Regulations (“MPRDA Regulations”) for implementation under GNR.420 inGovernment Gazette43127 (the “Amended Regulations”) ...
On Monday, 23 March 2020, the President of South Africa announced a 21-day nationwide lockdown, with effect from midnight on Thursday, 26 March 2020. In brief, all persons in South Africa are prohibited from leaving their homes for the 21-day period, except if specifically exempted to perform an essential service (health care professionals, food distributors etc ...
Is the employer obligated to notify the Principal Inspector of Mines of known cases of Covid-19 in the workforce? In terms of section 11(5B) of the Mine Health and Safety Act, 1996 (the "MHSA"), the employer is required to notify the Principal Inspector of Mines of any occurrence at the mine that results in the illness of any person ...
On Monday, 30 March 2020, the Financial Sector Conduct Authority (“FSCA”) issued a general communication to financial institutions relating to the impact of the coronavirus (COVID-19) on financial institutions and their customers. The circular sets out at a high level the expectations of the FSCA relating to the culture and responsibilities of financial institutions during the crisis. It does not have the force of law ...
On 26 March 2020, the Minister of Justice and Correctional Services issued Directions in terms of Regulation10 of the Regulations under the Disaster Management Act, 2002 (the “Directions”).The Directions will apply during the period of the lockdown, between midnight on Thursday, 26 March 2020 and midnight on Thursday, 16 April 2020 ...
In its recent decision inNational Union of Metal Workers of South Africa v Lufil Packaging (Isithebe) and Others, the Constitutional Court had to decide this question in an appeal brought by the National Union of Metal Workers of South Africa (“NUMSA”) against a decision of the Labour Appeal Court (“LAC”), which held that NUMSA was not entitled to organisational rights within Lufil’s workplace ...
Many banks and other financial services businesses and corporates have started preparing for life after the London Interbank Offered Rate (“LIBOR”). We are now less than two years away from the LIBOR and other Interbank Offered Rates (“IBORs”) being discontinued. Global banks are only required to submit LIBOR until the end of 2021. The proposal is to replace LIBOR and other IBORs with (nearly) risk-free rates (“RFR”) in certain major jurisdictions ...
Is the employer obligated to notify the Principal Inspector of Mines of known cases of COVID-19 in the workforce? In terms of section 11(5B) of the Mine Health and Safety Act, 1996 (the "MHSA"), the employer is required to notify the Principal Inspector of Mines of any occurrence at the mine that results in the illness of any person ...
In response to the rapid spread of the coronavirus (COVID-19), South Africa entered a lockdown period on 27 March 2020 and subject to any further directions from government, this period is due to last until midnight on 16 April 2020. During the lockdown period, employees performing an essential service are allowed to travel to and from work ...
The Emergency Regulations published under the National Disaster Management Act, 2002 to reduce the impact of the coronavirus (COVID-19) were understandably, under the circumstances, published in a hurry with a number of scenarios not being thought of and being left to interpretation. One of those is sectional title living ...
The Financial Sector Conduct Authority (“FSCA”) has been proactive in responding to the threats posed to the retirement funds industry by the infectious disease caused by the coronavirus (“COVID-19”) pandemic affecting South Africa. In recent days, the FSCA has made two noteworthy pronouncements for the retirement funds sector in an effort to mitigate potential exposures that the COVID-19 pandemic is likely to have on the retirement funds industry ...
