AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION ACT 2001 - SECT 311 APS employees in ASIC

AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION ACT 2001 - SECT 311

  (1)   This section applies to a person who, immediately before the commencement day, was a staff member (as defined in subsection   5(1) as in force immediately before the commencement day) engaged under the Public Service Act 1999 .

  (2)   On and from the commencement day, the person is taken:

  (a)   to cease to be engaged under the Public Service Act 1999 ; and

  (b)   to be employed by ASIC under a written agreement under section   120 as in force on and from the commencement day; and

  (c)   except as provided by this Act:

  (i)   to be employed on the same terms and conditions as those that applied to the person immediately before the commencement day; and

  (ii)   to have accrued an entitlement to benefits, in connection with that employment by ASIC, that is equivalent to the entitlement that the person had accrued, in connection with his or her employment, immediately before the commencement day.

  (3)   The person's service as an employee of ASIC is taken, for all purposes, to be continuous with his or her service as an APS employee.

  (4)   This Part does not affect any promotion, performance management or disciplinary actions (however described) in relation to the person that had been started before the commencement day.

  (5)   A staff member who ceases to be an APS employee because of subsection   (2) is not entitled to receive any payment or other benefit merely because he or she ceased to be an APS employee.