(1) This section applies if—
(a) a permanent employee, temporary employee or executive employee is offered employment by a designated private sector employer; and
(b) the Premier is satisfied that the offer of employment with the designated private sector employer will be on terms and conditions that are no less favourable than those that apply to the employee as an employee of the Port Corporation immediately before the transfer date; and
(c) the permanent employee, temporary employee or executive employee accepts that offer of employment.
(2) On the transfer date, the transferred employee's employment with the designated private sector employer is taken to be subject to the requirements under subsections (3) to (5).
(3) The terms and conditions of employment of a transferred employee who is a permanent employee or temporary employee cannot be varied during any employment guarantee period for the transferred employee except—
(a) by agreement entered into by or on behalf of the transferred employee; or
(b) following the proper application of reasonable disciplinary procedures.
(4) The terms and conditions of employment of a transferred employee who is an executive employee cannot be varied except by agreement entered into by or on behalf of the transferred employee.
(5) The employment of a permanent employee or temporary employee with the designated private sector employer cannot be terminated by the designated private sector employer during any employment guarantee period for the transferred employee, except—
(a) for serious misconduct pursuant to the proper application of reasonable disciplinary procedures; or
(b) by agreement with the employee.