Commonwealth Consolidated Regulations

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CORPORATIONS REGULATIONS 2001 - REG 7.7A.16C

Application of ban on conflicted remuneration--employer and employee (Division 4 of Part 7.7A of Chapter 7 of the Act does not apply)

             (1)  This regulation:

                     (a)  is made for subsection 1528(2) of the Act; and

                     (b)  prescribes circumstances in which Division 4 of Part 7.7A of Chapter 7 of the Act does not apply to a benefit.

Note:          Subsection 1528(1) of the Act sets out a rule about when Division 4 of Part 7.7A of Chapter 7 of the Act does not apply to a benefit given to a financial services licensee, or a representative of a financial services licensee. Subsection 1528(2) of the Act permits regulations to prescribe circumstances in which that Division applies, or does not apply, to a benefit.

Remuneration arrangement relating to enterprise agreement or collective agreement-based transitional instrument

             (2)  A circumstance is that:

                     (a)  the benefit is paid under a remuneration arrangement between an employer and an employee; and

                     (b)  the benefit is paid in accordance with an enterprise agreement (including its associated documents), or a collective agreement-based transitional instrument (including its associated documents), that was entered into before the application day, within the meaning of subsection 1528(4) of the Act.

When subregulation (2) ceases to apply

             (3)  If:

                     (a)  an enterprise agreement referred to in paragraph (2)(b) was in force immediately before the application day; and

                     (b)  the nominal expiry date of the agreement had not passed immediately before the application day;

the circumstance in subregulation (2) ceases to apply at the end of 18 months after the nominal expiry date of the agreement.

             (4)  If:

                     (a)  an enterprise agreement referred to in paragraph (2)(b) was in force immediately before the application day; and

                     (b)  the nominal expiry date of the agreement passed before the application day;

the circumstance in subregulation (2) ceases to apply on 1 July 2015.

Remuneration arrangement not relating to enterprise agreement or collective agreement-based transitional instrument

             (5)  A circumstance is that:

                     (a)  the benefit is paid under a remuneration arrangement between an employer and an employee; and

                     (b)  the benefit is not paid in accordance with an enterprise agreement (including its associated documents) or a collective agreement-based transitional instrument (including its associated documents); and

                     (c)  the benefit is payable in relation to a period that ends before 1 July 2015 .

Definitions

             (6)  In this regulation:

collective agreement-based transitional instrument has the meaning given by subitem 2(5) of Schedule 3 to the Fair Work (Transitional Provisions and Consequential Amendments) Act 2009 .

enterprise agreement has the same meaning as in the Fair Work Act 2009 .



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