last modified Oct 06, 2008 10:16 AM
by George Botaris — Oct 22, 2012 03:02 PM
22.10.12 | On 24 August 2012, the legislative framework on Belgian covered bonds has been published in the Official Gazette. Belgian Covered Bonds are issued by credit institutions on their balance sheet without entailing the transfer of credit claims to an SPV. After having issues covered bonds, the estate of the credit institution consists of its main or general estate, to which all its creditors have recourse and of one or more specific estates in connection with the issue of covered bonds. Such specific estate of cover assets may essentially be composed of public sector loans or commercial or residential mortgage loans, and the matching thereof (nominal, liquidity and maturity) will be tested and verified on a regular basis by a third-party controller.
by George Botaris — Jan 09, 2013 02:39 PM
05.10.12 | The 25 August 2012 Act amends the Act of 27 December 2006 on employment relationships (‘the Labour Relations Act’) and introduces a rebuttable presumption that self-employed persons working in specific industries are in fact employees if at least 5 out of 9 socio-economic criteria are met. As the new legislation introduces criteria of economic dependence to assess whether an employment contract exists, it can be expected that these new measures will have a significant impact on existing self-employed relationships as well as on future self-employed relationships in targeted industries.
by George Botaris — Oct 03, 2012 01:40 PM
by George Botaris — Sep 17, 2012 11:15 AM
14.09.12 | The Flemish decree of 10 December 2010 concerning work placements, which mandates the recognition of temp agency activities, carries a broader definition of temp agency activities than that of the federal law of 24 July 1987 concerning temporary employment, temping assignments and the posting of workers. The Constitutional Court has declared this broad definition as unconstitutional and has annulled it.
by George Botaris — Sep 14, 2012 02:32 PM
by George Botaris — Sep 12, 2012 04:54 PM
12.09.12 | The Flemish Community’s Decree on the use of languages in labour relations (hereafter referred to as the “Flemish Decree”), which was adopted on 19 July 1973, is currently being targeted by the European Court of Justice (ECJ). The Flemish Decree is suspected to infringe the fundamental principle of freedom of movement for workers.
by George Botaris — Jan 14, 2013 01:06 PM
04.09.12 | On 27 June 2012, the National Labour Council adopted CBA n° 103 containing new provisions regarding the right to time credit and working time reduction. At the end of 2011, the right to allowances paid out during the period of time credit (by the National Employment Office) was already amended, while the right to time credit itself was not. Consequently, through the new CBA, the right to time credit and the entitlement to allowances are being re-aligned.
by George Botaris — Jan 09, 2013 02:42 PM
26.07.12 | The Program Law of 22 June 2012 (1) introduced a new (tax deductible) social security contribution whereby a rate of 1.5% must be paid by the employer/company if aggregate contributions for the supplementary pension of an employee/company director exceeds 30,000 EUR (indexed). The employer has to pay this special social security contribution in the 4th quarter of each year if the threshold is reached.
by George Botaris — Jul 19, 2012 05:27 PM
by George Botaris — Jul 17, 2012 04:13 PM