72B—Special provision relating to severance payments
(1) A Full Bench of
SAET must establish a minimum standard for severance payments on termination
of employment for redundancy that will apply in the manner contemplated by
subsection (5).
(2) SAET may
thereafter, on application by a peak entity—
(a)
review the minimum standard for severance payments on termination of
employment for redundancy in force under this section; and
(b) if
satisfied that a variation of the minimum standard is necessary or desirable
to give effect to the objects of this Act—substitute a fresh minimum
standard.
(3) An application
under subsection (2) must not be made within 2 years after the completion
of previous proceedings to establish or review the standard by SAET.
(4) SAET, in acting
under this section—
(a) must
ensure that each peak entity is notified of the relevant proceedings and
allowed a reasonable opportunity to make representations; and
(b) may
(as it thinks fit) receive and take into account oral or written
representations (or both) from any other person or persons who have, in the
opinion of SAET, a proper interest in the matter.
(5) SAET may, on
application by—
(a) an
employee (or a group of employees); or
(b) a
registered association acting on behalf of an employee or a group of
employees,
make an order applying the minimum standard for severance payments in such
manner as SAET thinks fit.
(6) An application may
be made under subsection (5) if (and only if)—
(a)
—
(i)
the relevant employee or employees have been given notice
of a pending redundancy or redundancies; or
(ii)
the employment of the relevant employee or employees has
been terminated for redundancy; and
(b) the
application is made within 21 days after the notice is given or the employment
is terminated.
(7) An order under
subsection (5)—
(a) need
not be made by SAET; and
(b) may
provide for the variation of the minimum standard for severance payments in
the circumstances of the particular case; and
(c) may
be made on such conditions as SAET thinks fit.
(8) SAET must only act
under subsection (7)(b) if satisfied that there are cogent reasons for
doing so.