Common use of PROTECTION OF EMPLOYEE ENTITLEMENTS Clause in Contracts

PROTECTION OF EMPLOYEE ENTITLEMENTS. Long Service Leave 23.1 The company shall protect each employee’s long service leave benefits by making monthly contributions into an agreed trust fund such as the National Entitlements Security Trust (“NEST”). 23.2 The monthly contributions for each employee must continue while ever the employee is being paid. 23.3 The contributions shall be calculated in accordance with the provisions of this agreement or any relevant legislation, whichever provides the greater benefit to employees. 23.4 Nothing in this clause shall affect an employee’s rights to paid long service leave. (Note: the terms “transmission of business”, “transmittor”, etc in this clause have the same meaning as in Part 3, Division A, clause 7.) 23.5 If a transmission of business occurs, in order to protect the employees’ accrued entitlements the transmittor will pay its employees’ accrued entitlements into NEST prior to the transmission occurring. 23.6 The employees’ accrued entitlements will be calculated to the date on which the transmission occurs. Entitlements will be calculated in accordance with the Award as augmented by this agreement (in particular, see 23.7, below). 23.7 The accrued entitlements to be paid into NEST are: ▪ long service leave; ▪ severance pay; ▪ annual leave including loading; ▪ personal leave; and ▪ other similar benefits. 23.8 If a transmission of business is likely, contemplated, or will definitely occur, the parties shall meet before the transmission takes effect to make arrangements to implement this clause. In the course of any meetings pursuant to this requirement the company must provide the employees with all relevant information relating to the financial viability of the company. 23.9 The parties may agree on other means to secure the employees’ accrued entitlements on transmission such as an agreed timetable of staged payments into an industry fund such as NEST, a bank guarantee, an insurance bond or an arrangement to secure assets equivalent to the total amount of accrued entitlements. 23.10 In the event of a transmission of business occurring the continuity of the employment of employees shall be deemed not to have been broken by reason of such transmission; and the period of employment which the employee has had with the transmittor or any prior transmittor shall be deemed to be service of the employee with the transmittee.

PROTECTION OF EMPLOYEE ENTITLEMENTS. Long Service Leave 23.1 34.1 The company shall protect each employee’s long service leave benefits by making monthly contributions into an agreed trust fund such as the National Entitlements Security Trust (“NEST”). 23.2 34.2 The monthly contributions for each employee must continue while ever the employee is being paid. 23.3 34.3 The contributions shall be calculated in accordance with the provisions of this agreement or any relevant legislation, whichever provides the greater benefit to employees. 23.4 34.4 Nothing in this clause shall affect an employee’s rights to paid long service leave. (Note: the terms “transmission of business”, “transmittor”, etc in this clause have the same meaning as in Part 3, Division AAttachment 1, clause 7.) 23.5 34.5 If a transmission of business occurs, in order to protect the employees’ accrued entitlements the transmittor will pay its employees’ accrued entitlements into NEST prior to the transmission occurring. 23.6 34.6 The employees’ accrued entitlements will be calculated to the date on which the transmission occurs. Entitlements will be calculated in accordance with the Award as augmented by this agreement (in particular, see 23.734.7, below). 23.7 34.7 The accrued entitlements to be paid into NEST are: ▪ long service leave; ▪ severance pay; ▪ annual leave including loading; ▪ personal leave; and ▪ other similar benefits. 23.8 34.8 If a transmission of business is likely, contemplated, or will definitely occur, the parties shall meet before the transmission takes effect to make arrangements to implement this clause. In the course of any meetings pursuant to this requirement the company must provide the employees with all relevant information relating to the financial viability of the company. 23.9 34.9 The parties may agree on other means to secure the employees’ accrued entitlements on transmission such as an agreed timetable of staged payments into an industry fund such as NEST, a bank guarantee, an insurance bond or an arrangement to secure assets equivalent to the total amount of accrued entitlements. 23.10 34.10 In the event of a transmission of business occurring the continuity of the employment of employees shall be deemed not to have been broken by reason of such transmission; and the period of employment which the employee has had with the transmittor or any prior transmittor shall be deemed to be service of the employee with the transmittee.

PROTECTION OF EMPLOYEE ENTITLEMENTS. Long Service Leave 23.1 32.1 The company shall protect each employee’s long service leave benefits by making monthly contributions into an agreed trust fund such as the National Entitlements Security Trust (“NEST”). 23.2 32.2 The monthly contributions for each employee must continue while ever the employee is being paid. 23.3 32.3 The contributions shall be calculated in accordance with the provisions of this agreement or any relevant legislation, whichever provides the greater benefit to employees. 23.4 32.4 Nothing in this clause shall affect an employee’s rights to paid long service leave. (Note: the terms “transmission of business”, “transmittor”, etc in this clause have the same meaning as in Part 3, Division AAttachment 1, clause 7.) 23.5 32.5 If a transmission of business occurs, in order to protect the employees’ accrued entitlements the transmittor will pay its employees’ accrued entitlements into NEST prior to the transmission occurring. 23.6 32.6 The employees’ accrued entitlements will be calculated to the date on which the transmission occurs. Entitlements will be calculated in accordance with the Award as augmented by this agreement (in particular, see 23.734.7, below). 23.7 32.7 The accrued entitlements to be paid into NEST are: ▪ long service leave; ▪ severance pay; ▪ annual leave including loading; ▪ personal leave; and ▪ other similar benefits. 23.8 32.8 If a transmission of business is likely, contemplated, or will definitely occur, the parties shall meet before the transmission takes effect to make arrangements to implement this clause. In the course of any meetings pursuant to this requirement the company must provide the employees with all relevant information relating to the financial viability of the company. 23.9 32.9 The parties may agree on other means to secure the employees’ accrued entitlements on transmission such as an agreed timetable of staged payments into an industry fund such as NEST, a bank guarantee, an insurance bond or an arrangement to secure assets equivalent to the total amount of accrued entitlements. 23.10 32.10 In the event of a transmission of business occurring the continuity of the employment of employees shall be deemed not to have been broken by reason of such transmission; and the period of employment which the employee has had with the transmittor or any prior transmittor shall be deemed to be service of the employee with the transmittee.