Commonwealth Numbered Acts

COMPANIES AND SECURITIES LEGISLATION (MISCELLANEOUS AMENDMENTS) ACT 1985 No. 192 of 1985 - SECT 105

105. Section 441 of the Principal Act is amended -
(a) by omitting "Subject to" and substituting "(1) Subject to";
(b) by omitting from paragraph (1) (e) "any one employee" and substituting

"an excluded employee of the company";

   (c)  by omitting paragraph (1) (g) and substituting the following
        paragraphs:

"(g) seventh, all amounts due -

        (i)    on or before the relevant date;

        (ii)   by virtue of an industrial instrument;

        (iii)  to, or in respect of, employees of the company; and

        (iv)   in respect of leave of absence, but not exceeding $1,500 in
               respect of an excluded employee of the company;

   (ga) eighth, retrenchment payments payable to employees of the company
        (other than excluded employees of the company);";

   (d)  by omitting from paragraph (1) (h) "eighth" and substituting "ninth";

   (e)  by omitting from paragraph (1) (j) "ninth" and substituting "tenth";
        and

   (f)  by adding at the end the following sub-section:

"(2) In this section -
'company' means a company that is being wound up;
'employee', in relation to a company, means a person -

   (a)  who has been or is an employee of the company, whether remunerated by
        salary, wages, commission or otherwise; and

   (b)  whose employment by the company commenced before the relevant date;
'excluded employee', in relation to a company, means -

   (a)  an employee of the company who has been -

        (i)    at any time during the period of 12 months ending on the
               relevant date; or

        (ii)   at any time since the relevant date, or who is, a director of
               the company;

   (b)  an employee of the company who has been -

        (i)    at any time during the period of 12 months ending on the
               relevant date; or

        (ii)   at any time since the relevant date, or who is, the spouse of
               an employee of the kind referred to in paragraph (a); or

   (c)  an employee of the company who is a relative (other than a spouse) of
        an employee of the kind referred to in paragraph (a);
'retrenchment payment', in relation to an employee of a company, means an
amount payable by the company to the employee, by virtue of an industrial
instrument, in respect of the termination of the employee's employment by the
company, whether the amount becomes payable before, on or after the relevant
date.".