Agreement Flexibility 8.1 An employer and employee covered by this enterprise agreement may agree to make an individual flexibility arrangement to vary the effect of terms of the agreement if:
(a) the agreement deals with 1 or more of the following matters:
(i) arrangements about when work is performed;
(ii) overtime rates;
(iii) penalty rates;
(iv) allowances;
(v) leave loading; and
(b) the arrangement meets the genuine needs of the employer and employee in relation to 1 or more of the matters mentioned in paragraph (a); and
(c) the arrangement is genuinely agreed to by the employer and employee.
8.2 The employer must ensure that the terms of the individual flexibility arrangement:
(a) are about permitted matters under section 172 of the Fair Work Act 2009; and
(b) are not unlawful terms under section 194 of the Fair Work Act 2009; and
(c) result in the employee being better off overall than the employee would be if no arrangement was made.
8.3 The employer must ensure that the individual flexibility arrangement:
(a) is in writing; and
(b) includes the name of the employer and employee; and
(c) is signed by the employer and employee and if the employee is under 18 years of age, signed by a parent or guardian of the employee; and
(d) includes details of:
(i) the terms of the enterprise agreement that will be varied by the arrangement; and
(ii) how the arrangement will vary the effect of the terms; and
(iii) how the employee will be better off overall in relation to the terms and conditions of his or her employment as a result of the arrangement; and
(e) states the day on which the arrangement commences.
8.4 The employer must give the employee a copy of the individual flexibility arrangement within 14 days after it is agreed to.
8.5 The employer or employee may terminate the individual flexibility arrangement:
(a) by giving no more than 28 days written notice to the other party to the arrangement; or
(b) if the employer and employee agree in writing—at any time.
Flexibility 7.1 The Employer and an Employee covered by this Schedule may agree to make an individual flexibility arrangement to vary the effect of terms of this Schedule if:
7.1.1 the agreement deals with 1 or more of the following matters:
(i) arrangements about when work is performed - such arrangements may be made to vary the operation of clause 24 Hours of Work;
(ii) Salary Packaging – an employee may elect a salary packaging arrangement in accordance with clause 21 of this Schedule; and
7.1.2 the arrangement meets the genuine needs of the Employer and Employee in relation to 1 or more of the matters mentioned in 7.1.1; and
7.1.3 the arrangement is genuinely agreed to by the Employer and Employee.
7.2 The Employer must ensure that the terms of the individual flexibility arrangement:
(i) are about permitted matters under section 172 of the Fair Work Act 2009; and
(ii) are not unlawful terms under section 194 of the Fair Work Act 2009; and
(iii) result in the Employee being better off overall than the Employee would be if no arrangement was made.
7.3 The Employer must ensure that the individual flexibility arrangement:
7.3.1 is in writing; and
7.3.2 includes the name of the Employer and Employee; and
7.3.3 is signed by the Employer and Employee and if the Employee is under 18 years of age, signed by a parent or guardian of the Employee; and
7.3.4 includes details of:
(i) the terms of the Schedule that will be varied by the arrangement; and
(ii) how the arrangement will vary the effect of the terms; and
(iii) how the Employee will be better off overall in relation to the terms and conditions of his or her employment as a result of the arrangement; and
7.3.5 states the day on which the arrangement commences.
7.4 The Employer must give the Employee a copy of the individual flexibility arrangement within 14 days after it is agreed to.
7.5 The Employer or Employee may terminate the individual flexibility arrangement:
7.5.1 by giving no more than 28 days written notice to the other party to the arrangement; or
7.5.2 if the Employer and Employee agree in writing — at any time.
Individual Flexibility Arrangements 38.1 Where the Employer wants to enter into a individual flexibility arrangement (IFA) it must provide a written proposal to the Employee. Where the Employee’s understanding of written English is limited, the Employer must take measures, including translation into an appropriate language, to ensure the Employee understands the proposal.
38.2 The Employer and an Employee covered by this Agreement may agree to make an IFA to vary the effect of terms of the Agreement if:
(a) it deals with one or more of the following matters:
(i) Time between which ordinary hours are worked;
(ii) Salary sacrifice Agreements;
(iii) Reduction in ordinary hours;
(iv) Increase in annual leave accrual each year;
(v) Increase in rate of accrual of Rostered days off;
(vi) Increase in wages;
(vii) Increase in training leave (Union or otherwise);
(b) The IFA meets the genuine needs of the Employer and the Employee covered by this Agreement in relation to one or more of the matters mentioned in paragraph (a) above; and
(c) The IFA is genuinely agreed to by the Employer and the Employee.
38.3 The Employer must ensure that the terms of the IFA:
(a) are about permitted matters under section 172 of the FW Act; and
(b) are not unlawful terms under section 194 of the FW Act; and
(c) result in the Employee being better off overall than the Employee would be if no IFA was made.
38.4 The Employer must also ensure that any such IFA is:
(a) in writing (including details of the terms that will be varied, how the IFA will vary the effect of the Enterprise Agreement terms, how the Employee will be better off overall in relation to the terms and conditions of his or her employment as a result of the IFA, and the day on which the IFA commences);
(b) includes the name of the Employer and Employee;
(c) signed by the Employer and the Employee, and if the Employee is under 18, by a parent or guardian of the Employee; and
(d) provided to the Employee within 14 days after it is agreed to.
38.5 The Employer or Employee may terminate the IFA by either the Employer or Employee giving written notice of not more than 28 days, or at any time by both parties agreeing in writing.
38.6 Where any of the requirements of ss 202 and 203 of the FW Act are not met, the IFA is of no effect.
Flexibility Arrangements 9.1 The Employer and an Employee may agree to make an individual flexibility arrangement to vary a term of the Agreement if the arrangement:
(a) only varies the effect of
(i) Clause 45 Parental Leave and Dad and Partner Pay (ii) Clause 42 Compassionate Leave
Individual Flexibility Arrangement 12.1 The Employer and an Employee covered by this Agreement, may agree to make an Individual Flexibility Arrangement to vary the following terms of this Agreement if:
(a) the arrangement deals with one or more of the following matters:
(i) arrangements about where and when work is performed;
(ii) overtime rates;
(iii) penalty rates;
(iv) allowances; or
(v) annual leave loading;
(b) the arrangement must meet the genuine needs of the Employer and Employee in relation to one or more of the matters mentioned in subclause 14.1 (a); and
(c) the arrangement is genuinely agreed to by the Employer and the Employee.
12.2 The Employer must ensure that the terms of the Individual Flexibility Arrangement:
(a) are about permitted matters under section 172 of the Act;
(b) are not unlawful terms under section 194 of the Act;
(c) result in the Employee being better off overall than the Employee would be if no agreement was made.
12.3 The Employer must ensure that the Individual Flexibility Arrangement:
(a) is in writing;
(b) includes the name of the Employer and the Employee;
(c) is signed by the Employer and the Employee, and if the Employee is under 18 years of age, signed by a parent or guardian of the Employee;
(d) Includes details of:
(i) the terms of the Agreement that will be varied by the arrangement;
(ii) how the arrangement will vary the effect of the terms;
(iii) how the Employee will be better off overall in relation to the terms and conditions of their employment as a result of the arrangement; and
(e) states the day on which the arrangement commences;
12.4 The Employer must give the Employee a copy of the Individual Flexibility Arrangement within 14 days after it is agreed to.
12.5 The Employer or Employee may terminate the Individual Flexibility Arrangement;
(a) by giving no more than 28 days written notice to the other party to the arrangement; or
(b) if the Employer and the Employee agree in writing – at any time.
WORKPLACE FLEXIBILITY The employer must ensure that any Individual Flexibility Agreement (IFA) is genuinely agreed to by the employer and the employee and result in the employee being better off overall at the time the IFA is made than the employee would have been if no IFA had been agreed to.
8.1 Notwithstanding any other provision of the Agreement, the employer and an individual employee may agree to vary the application of certain terms of the Agreement to meet the genuine individual needs of the employer and the individual employee. The terms the employer and the individual employee may agree to vary are the application of those permitted under Section 172 of the FW Act, and relates only to:-
8.1.1 arrangements for when work is performed;
8.1.2 salary sacrifice arrangements;
8.1.3 reduction in ordinary hours; and
8.1.4 are not unlawful terms under Section 194 of the FW Act.
8.2 The employer and the individual employee must have genuinely made the IFA without coercion or duress. An IFA can only be entered into after the individual employee has commenced employment with the employer.
8.3 The IFA between the employer and the individual employee must:
8.3.1 be confined to a variation in the application of one or more of the terms listed in Clause 8.1; and
8.4 The IFA between the employer and the individual employee must also:
8.4.1 be in writing, name the parties to the IFA and be signed by the employer and the individual employee and, if the employee is under eighteen (18) years of age, the employee’s parent or guardian;
8.4.2 state each term of the Agreement that the employer and the individual employee have agreed to vary;
8.4.3 detail how the application of each term has been varied by agreement between the employer and the individual employee;
Approach All investments are to be made using the value approach by investing in companies at prices below their underlying long term values to protect capital from loss and earn income over time and provide operating income as needed. With regard to equities, no attempt is made to forecast the economy or the stock market. The manager will attempt to identify financially sound companies with good potential profitability which are selling at large discounts to their intrinsic value. Appropriate measures of low prices may consist of some or all of the following characteristics: low price earnings ratios, high dividend yields, significant discounts to book value, and free cash flow. Downside protection is obtained by seeking a margin of safety in terms of a sound financial position and a low price in relation to intrinsic value. Appropriate measures of financial integrity which are regularly monitored, include debt/equity ratios, financial leverage, asset turnover, profit margin, return on equity, and interest coverage. As a result of this bargain hunting approach, it is anticipated that purchases will be made when economic and issue-specific conditions are less than ideal and sentiment is uncertain or negative. Conversely, it is expected that gains will be realized when issue-specific factors are positive and sentiment is buoyant. The investment time horizon is one business cycle (approximately 3-5 years). As regards bonds, the approach is similar. No attempt is made to forecast the economy or interest rates. The manager will attempt to purchase attractively priced bonds offering yields better than Treasury bonds with maturities of 10 years or less that are of sound quality i.e. whose obligations are expected to be fully met as they come due. We do not regard rating services as being an unimpeachable source for assessing credit quality any more than we would regard a broker's recommendation on a stock as being necessarily correct. In any form of investment research and evaluation, there is no substitute for the reasoned judgement of the investment committee and its managers.
Impact direct impact on people does not necessarily require direct contact, for example, environmental health, trading standards and similar officers may have a direct impact on people, through the implementation or enforcement of regulations, without necessarily having direct contact with those who benefit.
CONSULTATIVE MECHANISMS 11.1 Effective consultation is essential for continuous workplace reform and such consultation can take place at any time during the life of a project. Consultative Committees may be set up on larger projects for this purpose. The Consultative Committee will operate for the purpose of continually assessing the efficiency of working arrangements, monitoring the outcomes of this Agreement, coordinating training activities and sharing pertinent information.
Business Continuity Plan The Warrant Agent shall maintain plans for business continuity, disaster recovery, and backup capabilities and facilities designed to ensure the Warrant Agent’s continued performance of its obligations under this Agreement, including, without limitation, loss of production, loss of systems, loss of equipment, failure of carriers and the failure of the Warrant Agent’s or its supplier’s equipment, computer systems or business systems (“Business Continuity Plan”). Such Business Continuity Plan shall include, but shall not be limited to, testing, accountability and corrective actions designed to be promptly implemented, if necessary. In addition, in the event that the Warrant Agent has knowledge of an incident affecting the integrity or availability of such Business Continuity Plan, then the Warrant Agent shall, as promptly as practicable, but no later than twenty-four (24) hours (or sooner to the extent required by applicable law or regulation) after the Warrant Agent becomes aware of such incident, notify the Company in writing of such incident and provide the Company with updates, as deemed appropriate by the Warrant Agent under the circumstances, with respect to the status of all related remediation efforts in connection with such incident. The Warrant Agent represents that, as of the date of this Agreement, such Business Continuity Plan is active and functioning normally in all material respects.
