Late last year the Government announced an Open Consultation on Measures to reform post-termination Non-Compete clauses in contracts of employment: The Consultation was said to be founded on the Government’s desire to explore avenues to boost innovation, create the conditions for new jobs and increase competition to support economic recovery from the impacts of COVID-19.
The potential reform measures under consultation include:
- Mandatory compensation from the employer during the term of the restriction
- Greater disclosure around the Non-Compete at the time of contracting
- Statutory limits on the duration of the restrictions
- Making post-termination, non-compete clauses in contracts of employment unenforceable.
11KBW submitted their response today. You can read it in full here.