22Annual rate of salary of employees remunerated under incentive schemes

#### 22 Annual rate of salary of employees remunerated under incentive schemes (1) In this regulation, incentive scheme means a scheme incorporated in a written agreement under which an eligible employee is entitled to earn part of his or her total remuneration by way of commissions or bonuses, or both, that become payable, in accordance with performance criteria applied individually to a class of eligible employees in which he or she is included, as set out in the agreement in relation to work or duties specified in the agreement. (2) Where an incentive scheme is applicable to an eligible employee who is an employee of the Australian and Overseas Telecommunications Corporation, the annual rate of salary for the purposes of the Act of the eligible employee on a particular day is an amount equal to the amount per annum that would be the annual rate of salary for the purposes of the Act of the eligible employee on that day in accordance with the agreement to which that incentive scheme relates if: (a) the incentive scheme was not applicable to the eligible employee on that day; and (b) the eligible employee held, on that day, as such an employee, a position having the same rank or classification as the rank or classification applicable to the eligible employee on that day in relation to his or her employment in accordance with the incentive scheme. (3) Subregulation (2) applies to an eligible employee to whom an incentive scheme is applicable subject to any right or entitlement applicable immediately before that scheme became applicable, under subsection 47(1) of the Act, in relation to the ascertainment of his or her annual rate of salary.