Victorian Current Acts

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EDUCATION AND TRAINING REFORM ACT 2006 - SECT 2.4.16

Monetary remuneration and employment benefits

    (1)     A member of the Principal Class is entitled to monetary remuneration at the rate and to the employment benefits of the kinds provided in his or her contract of employment.

    (2)     The total amount of—

        (a)     the annual rate of monetary remuneration; and

        (b)     the annual cost to the Crown of employment benefits

for a member of the Principal Class under his or her contract of employment must be equal to the amount of the remuneration package for that member.

    (3)     The cost of an employment benefit is the approved amount or an amount calculated in the approved manner.

    (4)     This section does not affect—

        (a)     any performance related incentive payment made to a member of the Principal Class in accordance with his or her contract of employment; or

        (b)     any remuneration or benefits to which a member of the Principal Class is entitled by law in addition to those arising under the contract of employment.

    (5)     During any period when the monetary remuneration and employment benefits for a member of the Principal Class cannot be determined under subsection (1), the member is entitled to monetary remuneration at the rate of the amount of remuneration package for the member, subject to any subsequent adjustment of payments in accordance with the contract of employment of the member.

    (6)     If the remuneration package for a member of the Principal Class is varied, the member is entitled to monetary remuneration and employment benefits in accordance with the contract of employment of the member, pending any necessary variation of the contract and subsequent adjustment of payments in accordance with the contract as varied.



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