Western Australian Current Acts Western Australian Current Acts Notwithstanding any
other provision of this Act —
(a) on
the appointed day each employee of CBC shall cease to be an employee of CBC
and shall become an employee of the continuing bank, but for the purposes of
every Act and other law, award, determination, contract and agreement relating
to the employment of each such employee his contract of employment shall be
deemed to be unbroken and the period of his service with CBC shall be deemed
to have been a period of service with the continuing bank;
(b) the
terms and conditions of the employment of each transferred employee with the
continuing bank shall —
(i)
on the appointed day (and thereafter until varied) be
identical with the terms and conditions of his employment with CBC immediately
before the appointed day, and be capable of variation in the same manner as
they were immediately before that day; and
(ii)
subject to any Act or other law, award or determination
relating to those terms and conditions, also be capable of variation in the
same manner as the general terms and conditions of employment of other persons
employed by the continuing bank are capable of variation;
(c) a
transferred employee shall not be entitled to receive any payment or other
benefit by reason only of his ceasing by virtue of this Act to be an employee
of CBC;
(d)
nothing in this Act, other than paragraph (c), affects rights or liabilities
under any provident, benefit, superannuation or retirement fund or scheme
relating to employees of CBC; and
(e) a
director, secretary or auditor of CBC or CBC Savings Bank does not by virtue
of this Act become a director, secretary or auditor of the continuing bank or
the continuing savings bank.