Superannuation (Axiom Funds Management Corporation) Act 1996
64Staff
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64 Staff
64 Staff
(1) On the sale of AFML, each member of staff of AFML continues to be a member of staff of AFML (despite the change of ownership) on the same terms and conditions of employment as applied to the member of staff immediately before the sale and those terms and conditions are to continue to have effect until varied either by agreement or otherwise in accordance with law.
(2) In subsection (1), a reference to terms and conditions of employment includes (but is not limited to) any right under a contract of employment to additional payments in the nature of incentives or bonus payments.
(3) Neither the contract of employment nor the period of employment of each member of the staff concerned is taken to have been broken by the operation of this Act for the purposes of any law, award or agreement relating to the employment of that member of staff.
(4) Without limiting this section, this Division does not affect any accrued rights that the member of staff concerned had immediately before the sale in relation to any kind of leave.