COMMONWEALTH BANKS RESTRUCTURING ACT 1990 - SECT 64 Transfer of staff
COMMONWEALTH BANKS RESTRUCTURING ACT 1990 - SECT 64
Transfer of staff(1) A person who, immediately before the staff transfer time, was an officer of the Commonwealth Banking Corporation Service is to be regarded as:
(a) having been appointed by the Commonwealth Bank under section 88 of the amended Act, with effect from the staff transfer time; and
(b) having been so appointed on the same terms and conditions as those that applied to the person, immediately before the staff transfer time, as an officer of the Commonwealth Banking Corporation Service; and
(c) having accrued an entitlement to benefits, in connection with that appointment as an officer of the Commonwealth Bank, that is equivalent to the entitlement that the person had accrued, as an officer of the Commonwealth Banking Corporation Service, immediately before the staff transfer time.
(2) Where, because of subsection ( 1), a person is regarded as having been appointed as an officer of the Commonwealth Bank with effect from the staff transfer time, that service as an officer of the Commonwealth Bank is to be regarded for all purposes as having been continuous with the service of the person, immediately before the staff transfer time, as an officer of the Commonwealth Banking Corporation Service.