(1)  A transferred employee –

(a) is, for a period of not less than 12 months from the transfer day, to be paid by way of remuneration (excluding any bonus payments) by the transferee an amount per annum no less than the amount he or she received per annum (excluding any bonus payments) immediately before the day on which this Act receives the Royal Assent or such other date agreed by the transferee; and

(b) is, subject to any determination made under section 47(3) , to be employed by the transferee for a period of not less than 12 months from the transfer day –

(i) in accordance with any awards, agreements and determinations which would have applied to him or her had he or she not been transferred but instead remained as an employee of the transferor; and

(ii) on terms and conditions in aggregate that are no less favourable to that transferred employee than those which would have applied to him or her immediately prior to the day on which this Act receives the Royal Assent or such other date agreed by the transferee –

except where this or any other Act or law makes specific provision in respect of superannuation; and

(c) retains any rights to annual leave, long-service leave, sick leave, and other forms of leave, accrued or accruing during his or her employment with the transferor, and may claim any such entitlements as against the transferee.

(2)  Nothing in this section prevents any of the terms of employment of a transferred employee being altered by an award, industrial agreement or law after he or she becomes a transferred employee.