CFM Sale Act 1996 (Cth)

CFM Sale Act 1996

Act No. 58 of 1996 as amended

This compilation was prepared on 6 November 2012 taking into account amendments up to Act No. 136 of 2012

The text of any of those amendments not in force on that date is appended in the Notes section

The operation of amendments that have been incorporated may be affected by application provisions that are set out in the Notes section

Prepared by the Office of Parliamentary Counsel, Canberra

Contents

Part 1—Preliminary 1 Short title [see Note 1] 2 Commencement [see Note 1] 3 Definitions

Part 2—Transfer of CFM subsidiaries to the Commonwealth 5 What this Part is about Division 1—Subsidiaries 6 Subsidiaries to be established 7 CFM to transfer shares in subsidiaries to the Commonwealth 8 Exemption from stamp duty and other taxes Division 2—Staff 9 Transfer of staff from CFM 10 Terms and conditions of transferred employees 11 Variation of terms and conditions of employment 12 Statement of accrued benefits Division 3—Application of the Commonwealth Funds Management Limited Act 1990 13 Application of the Commonwealth Funds Management Limited Act 1990 14 Application of section 4 15 Application of section 15 16 Application of Part 4 17 Application of section 33 18 Application of section 34 19 Application of Part 8 Division 4—Application of other legislation 20 Approved authority—Superannuation Act 1976 21 Approved authority—Superannuation Act 1990 22 Commonwealth authority—Safety, Rehabilitation and Compensation Act 1988 23 Public authority of the Commonwealth—Long Service Leave (Commonwealth Employees) Act 1976

Part 3—Sale of CFM bodies 24 What this Part is about Division 1—Preliminary 25 Sale day for CFM 26 Sale day for transferred body Division 2—Long service leave 27 What this Division is about Subdivision 2A—Preliminary 28 Definitions 29 References to Long Service Leave Act 30 Division not to affect an employee's post‑sale long service leave rights Subdivision 2B—Long service leave for employees who attain at least 10 years service 31 What this Subdivision is about 32 Employees who attain 10 years service 33 Employees reaching minimum retiring age or being retrenched 34 Rate of salary Subdivision 2C—Payments in lieu of long service leave 35 What this Subdivision is about 36 Employees who attain 10 years service 37 Employees reaching minimum retiring age or being retrenched 38 Employee stops employment because of ill‑health 39 Employee may request non‑payment or reduced payment 40 Rate of salary Subdivision 2D—Payments on the death of an employee 41 What this Subdivision is about 42 Payments on death of an employee Subdivision 2E—Long service leave credit 43 Employee's long service leave credit for the purposes of Subdivisions 2B and 2C Subdivision 2F—Saving: Long Service Leave Act 44 Saving—Accrued rights under the Long Service Leave Act Division 3—Superannuation 45 What this Division is about 46 Deferred benefits under the Defence Force Retirement and Death Benefits Act 1973 47 Period of eligible employment for the purposes of Division 3 of Part IX of the Defence Force Retirement and Death Benefits Act 1973 48 Continuing application of the Crimes (Superannuation Benefits) Act 1989 Division 4—Safety, Rehabilitation and Compensation Act 1988 49 What this Division is about 50 Definitions 51 Continued application of the Safety, Rehabilitation and Compensation Act 1988 52 Continued application to certain employees 53 Transitional provisions relating to Division 4A of Part VII 54 Relevant employer and co‑operation with the Commonwealth 55 Notification of amount of salary paid to employees of a CFM body Division 5—Occupational Health and Safety (Commonwealth Employment) Act 1991 56 Refund of contribution paid under the Occupational Health and Safety (Commonwealth Employment) Act 1991 Division 6—Mobility rights 57 Cessation of mobility rights Division 7—Prosecutions 58 Continuing application of the Director of Public Prosecutions Act 1983 Division 8—Imputation 59 Franking account surpluses reduced to nil Division 9—Miscellaneous 60 CFM body not to be an agency of the Commonwealth etc. 61 Regulations connected with the sale of a CFM body 62 Certain provisions of the Commonwealth Funds Management Limited Act 1990 cease to apply to CFM bodies