Penalty Rates definition

Penalty Rates means the pay rate of ‘time and a half’ which is 1.5 times the ‘ordinary time’ hourly rate of pay, and the pay rates of ‘double time’ and ‘double time and a half’ which are 2 times and 2.5 times the ‘ordinary time’ hourly rate of pay respectively.

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Penalty Rates. Your Annual Percentage Rates (including Introductory Rates, Preferred Rates or Special Offer Rates) for all your Balance Categories may increase if one of these “Triggering Events” occurs: you fail to make your minimum payment to us when due or you make a payment to us that is dishonored for any reason. In such circumstances, we may increase your Annual Percentage Rates on all Balance Categories to higher Penalty Rates equal to those stated on the Schedule. Factors considered in determining the higher rates may include how you have handled your account with us and current and historical information regarding your credit in general. For your account to again become eligible for a lower daily periodic rate and corresponding Annual Percentage Rate, there must be no Triggering Event on your account for at least seven (7) consecutive billing cycles. If your daily periodic rate and Annual Percentage Rate are lowered (which occurs at our discretion after your account becomes eligible), the lower rates will not necessarily be as low as the Preferred Rates previously disclosed to you and will not necessarily apply to the balance of your account which is already outstanding as of the date the rates are lowered. An account that is closed while subject to Penalty Rates will not become eligible later for lower rates, regardless of the reason you or we closed the account and regardless of account performance. We are not obligated to give you notice that your Annual Percentage Rate is changing to a Penalty Rate. Even though we give you notice on one or more occasions, we may discontinue providing you a notice at any time. Penalty Rates will apply as provided above, regardless of whether, when or how you receive notice.

Penalty Rates means the penalty rates and shift premiums set out in the following:

Examples of Penalty Rates in a sentence

Should any or all contaminant level(s) in the Material be over the set limits, ABC has the right to refuse the Material, or apply Penalty Rates.
Penalty Rates for Shiftwork Afternoon shift and night shift will attract a penalty rate of 15% of the ordinary time rate.
The Customer acknowledges that ABC may be required to disclose information concerning the Customer to a government agency or court, where required under law or regulation ▇▇▇▇▇▇▇▇▇▇▇ Elements: ▇▇▇▇▇▇▇▇▇▇▇ Elements and their maximum limits are listed in the Penalty Rates table of these Terms.
In such cases, there is no requirement under Clause 27 - Overtime and Penalty Rates, to pay overtime and penalty rates in addition to the weekly award wage.
All time worked in excess of eight hours per day, five days per week and/or 30 hours per week shall be overtime and paid for at the rates prescribed for other weekly employees in Clause 27 - Overtime and Penalty Rates, of this award.
However, such rate shall not be used in the calculation of casual rates in clause 9.5(a), shift penalties in clause 22 Shift Work and clause 23 Saturday and Sunday Penalty Rates, overtime rates of pay in clause 24 Overtime or public holiday rates of pay in clause 34.4 which may be payable to the Employee.
Any protected award conditions as determined by the Workplace Relations Act 1996 which relate to Public Holidays, Rest Breaks, Shift/Overtime Loadings, Allowances (as defined by the Workplace Relations Act 1996), Penalty Rates, Incentive-based Payments and Bonuses and Annual Leave Loading, other than as expressly provided for in this Agreement, are hereby modified or excluded.
Penalty Rates shall be paid for shift work on Saturdays, Sundays and Agreement/ Public Holidays.
These payment summaries contain all of Penalty Rates: Extra money paid to employees for working at times such as public holidays.
Penalty Rates The Wage Rates provided in clause 4 of part 4 are ‘flat rates’; as such, the Employees are not entitled to receive additional overtime payments, shift allowances and/or other penalty rates, including any additional rates set out in Part 1.

More Definitions of Penalty Rates

Penalty Rates. Penalty Rates (or “Penalty APRs”) are not applicable on your account.