Application for approval of the MUFG Corporate Markets Enterprise Agreement 2025

[1] An application has been made for approval of an enterprise agreement known as the MUFG Corporate Markets Enterprise Agreement 2025 (Agreement). The application was made pursuant to section 185 of the Fair Work Act 2009 (Act). The Agreement is a single enterprise agreement.

[2] Section 205A(1) of the Act provides that an enterprise agreement must include a delegates' rights term for workplace delegates to whom the agreement applies. The Agreement does not contain a delegates' rights term. Pursuant to subsection 205A(2)(b) of the Act, the delegates' rights term contained in the Banking, Finance and Insurance Award 2020 is taken to be a term of the Agreement.

[3] The Employer has provided written undertakings (Undertakings). A copy of the Undertakings is attached in Annexure A to this decision. I am satisfied that the effect of accepting the Undertakings is not likely to:

(a) cause financial detriment to any employee covered by the Agreement; or

(b) result in substantial changes to the Agreement.

[4] The views of each person who the Fair Work Commission knows is a bargaining representative for the Agreement have been sought in relation to the Undertakings.

[5] Pursuant to subsection 190(3) of the Act, I accept the Undertakings. The Undertakings are taken to be a term of the Agreement.

[6] Subject to the Undertakings, I am satisfied that each of the requirements of sections 186, 187, 188 and 190 of the Act as are relevant to this application for approval have been met.

[7] The Agreement is approved and, in accordance with section 54 of the Act, will operate from 26 November 2025. The nominal expiry date of the Agreement is 18 November 2028.

[8] The Finance Sector Union of Australia, being a bargaining representative for the Agreement, has given notice to the Fair Work Commission that it wants the Agreement to cover it. In accordance with s 201(2) of the Act, I note that the Agreement covers the Finance Sector Union of Australia.

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