(1) For the purposes of section 34, an employee's long service leave credit is equal to the long service leave credit that the employee would have under the Long Service Leave Act for the period:
(a) beginning when the employee began his or her period of service; and
(b) ending on the sale day;
if the employee had been retrenched on the sale day.
(2) For the purposes of section 35, an employee's long service leave credit is the employee's long service leave credit worked out under subsection ( 1) reduced by any long service leave credit used under section 34.