Treasury Laws Amendment (Prohibiting Energy Market Misconduct) Bill 2019

The majority voted against an amendment introduced by NSW Senator Jenny McAllister (Labor), which means it failed.

Senator McAllister explained that:

This amendment will ensure that non-registered agreements between workers and employers, which provide workers with additional protections agreed by employers, should be safeguarded in the event of divestment.

In broad terms, 'divestment' is the opposite of investment in that it involves removing money that's been invested in a particular place.

Amendment text

(1) Schedule 1, item 1, page 27 (after line 22), at the end of section 153ZB, add:

(10) If:

(a) a body corporate (the disposing entity) that is a national system employer (within the meaning of the Fair Work Act 2009) is ordered to dispose of interests in securities or assets to a person (the receiving entity); and

(b) a provision of Part 2-8 of that Act would not apply, despite subsection (9), because a workplace instrument (the applicable instrument) that covered the disposing entity and an employee (the applicable employee) of the entity is not a transferable instrument (within the meaning of that Part);

Part 2-8 of that Act applies as if:

(c) a reference to an old employer in that Part included a reference to the disposing entity; and

(d) a reference to a new employer in that Part included a reference to the receiving entity; and

(e) a reference to a transferring employee in that Part included a reference to the applicable employee; and

(f) a reference to a transferable instrument in that Part included a reference to the applicable instrument.

(11) If:

(a) a body corporate (the disposing entity) that is a State public sector employer of a State (within the meaning of the Fair Work Act 2009) is ordered to dispose of interests in securities or assets to a person (the receiving entity) that is a national system employer; and

(b) a provision of Part 6-3A of that Act would not apply, despite subsection (9), because a workplace instrument (the applicable instrument) that covered the disposing entity and an employee (the applicable employee) of the entity is not a State award (within the meaning of that Part);

Part 6-3A of that Act applies as if:

(c) a reference to an old State employer in that Part included a reference to the disposing entity; and

(d) a reference to a new employer in that Part included a reference to the receiving entity; and

(e) a reference to a transferring employee in that Part included a reference to the applicable employee; and

(f) a reference to a State award in that Part included a reference to the applicable instrument.