1Fair Work (Unclaimed Monies Interest Calculations) Instrument 2015

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Fair Work (Unclaimed Monies Interest Calculations) Instrument 2015

I, Michaelia Cash, Minister for Employment, make the following instrument.

Dated  18 December  2015

Michaelia Cash

Minister for Employment

 

 

 

 

Contents

1 Name

2 Commencement

3 Authority

4 Purpose

5 Definitions

6 Calculation of interest

7 Interest period for an unclaimed amount

8 Interest payable for a financial year

 

1  Name

  This is the Fair Work (Unclaimed Monies Interest Calculations) Instrument 2015.

2  Commencement

 (1) Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

 

• Commencement information
• Column 1 Column 2 Column 3
• Provisions Commencement Date/Details
• 1. The whole of this instrument The later of:(a) the day after this instrument is registered; and(b) the day Part 10 of Schedule 1 to the Fair Work Amendment Act 2015 commences

Note:  This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.

 (2) Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.

3  Authority

  This instrument is made under subsection 559(3B) of the Fair Work Act 2009.

4  Purpose

  This instrument sets out how to work out the amount of interest (if any) that the Fair Work Ombudsman, on behalf of the Commonwealth, must pay to a person under subsection 559(3A) of the Act.

Note: Interest is payable to a person under subsection 559(3A) of the Act if:

(a) the person is paid an amount under subsection 559(3) of the Act at a particular time; and