PROTECTION OF EMPLOYEE ENTITLEMENTS. Long Service Leave
PROTECTION OF EMPLOYEE ENTITLEMENTS. The Company accounts to date have demonstrated financial strength, as stated for the public record in the Company’s annual report. The Company will continue to provide in its accounts for the accrued benefits of all employees that it has a present obligation to pay so that employee entitlements can be paid when those entitlements fall due. Accrued benefits will be based on wage rates at the time entitlements are payable.
PROTECTION OF EMPLOYEE ENTITLEMENTS. The Company acknowledges the concerns of employees regarding the protection and preservation of accrued employee entitlements and fully supports the Federal Government’s on-going maintenance and enhancement of the General Employee Entitlements and Redundancy Scheme (XXXXX). The Company is a part of a publicly listed corporation that is required by law to publish an audited annual report, which outlines its financial position, including accruals for employees’ statutory entitlements. The Company is fully aware of the legal requirements imposed by the Corporations Act and the severe penalties that apply for any breach of the provisions of that Act. The Company has and will continue to ensure that it makes sufficient provision to meet its obligations regarding accrued employee entitlements. In all previous instances where the company has implemented business closures and/or retrenchments, the Company has without exception, ensured that all employees receive 100% of their accrued entitlements. In the event of the closure and or sale of part or all of the Company’s business, the Company guarantees that it has sufficient provision to cover and pay all relevant employee entitlements. As part of ensuring that employees remain informed of the Company’s financial position, the Company commits to the on-going provision of summarized financial performance information relevant to the Company as a whole (in line with the reporting requirements of both the Australian and New Zealand Stock Exchanges), via meetings with the Employee Consultative Committee.
PROTECTION OF EMPLOYEE ENTITLEMENTS. 8.4.1 The Company is aware of and understands that employees have some concerns regarding the security of their entitlements.
PROTECTION OF EMPLOYEE ENTITLEMENTS. 58.1 The company will provide an auditors report annually to certify the company’s ability to meet its financial liabilities to employees with respect to their accumulated entitlements. This report shall be provided in conjunction with the annual financial audit of the business. The auditors report will verify:
PROTECTION OF EMPLOYEE ENTITLEMENTS. 27.1 It is agreed that in the event that a transmission of business is to occur, the company will meet with the employees before the transmission takes effect to discuss likely the effects of the transmission on the employees, measures to avert or mitigate the adverse affects of the transmission and the protection of employees’ accrued annual leave entitlements. The company shall give prompt consideration to matters raised by the employees.
PROTECTION OF EMPLOYEE ENTITLEMENTS. The Company will continue to provide in its accounts for the accrued benefits of all Employees that it has a present obligation to pay so that Employee entitlements can be paid when those entitlements fall due. Accrued benefits will be based on wage rates at the time entitlements are payable.
PROTECTION OF EMPLOYEE ENTITLEMENTS. The parties agree that in the event that a transmission of business is to occur as defined in the Incorporated Award Terms and in order to protect employees accrued annual leave entitlements, that the company shall either pay employee entitlement into an agreed industry fund, or enter into bank guarantee, insurance bond or other arrangement to secure assets equivalent to the total amount of such accrued entitlements prior to the transmission occurring. The accrued entitlements will be calculated to the date on which the transmission of business will occur. Entitlements will be calculated in accordance with the Incorporated Award Terms, legislation or as specified within this agreement. Further, the employer agrees that in the event of a transmission of business, the Employer will consult with employees and employee representatives before the transmission of business to monitor the implementation of this sub-clause and the Employer agrees, having regard for confidentiality, that it will table information relevant to the financial viability of the Employer. Any dispute or issue in connection with the operation of this clause will be resolved in accordance with the dispute resolution procedure set out in this agreement. The operations of this sub-clause will not change the provision or the application of clause 15.4 “transmission of business” of the Incorporated Award Terms.
PROTECTION OF EMPLOYEE ENTITLEMENTS. The Laminex Group acknowledges the concerns of employees regarding the protection and preservation of accrued employee entitlements and fully supports the Federal Governments on-going maintenance and enhancement of the General Employee Entitlements and Redundancy Scheme (XXXXX) The Company is a part of a publicly listed corporation that is required by law to publish an audited annual report, which outlines its financial position, including accruals for employees' statutory entitlements. The Company and its directors will continue to ensure that it makes sufficient provision to meet its obligations regarding accrued employee entitlements. In all previous instances where the Company has implemented business closures and/or retrenchments, the Company has without exception, ensured that all employees receive 100% of their accrued entitlements. In the event of the closure and or the sale of part or all of the Company’s Plant, the Company guarantees that it has sufficient provision to cover and pay all relevant employee entitlements. As a part of ensuring that employees remain informed of the Company’s financial position, the Company commits to the on-going provision of summarized financial performance information relevant to the Company as a whole ( in line with the reporting requirements of both the Australian and New Zealand Stock Exchanges), via meetings with the Employee Consultative Committee.
PROTECTION OF EMPLOYEE ENTITLEMENTS. (1) The Employer will continue to provide in its accounts for the accrued benefits of all Employees that it has a present obligation to pay so that Employee entitlements can be paid when those entitlements fall due. Accrued benefits will be based on wage rates at the time entitlements are payable.
