| Employee Safety Net |
| The entitlements of an employee are protected against their employer?s insolvency by the General Employee Entitlements and Redundancy Scheme (GEERS).
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Currently, for an employee to be eligible for the scheme, they must not:
- Have resigned from their position;
- Lodge their claim in excess of twelve months after their termination;
- Be an independent contractor;
- Be a Shareholding Director, or relative of a Shareholding Director, of the company; or
- Be a defined relative of the former employer.
Should an employee meet the above requirements, and their employment be terminated as a result of the insolvency of their employer, then GEERS shall meet payment of the following entitlements:
- All outstanding annual leave;
- All accrued and outstanding long-service leave;
- All accrued pay in lieu of notice; and
- Up to 8 weeks redundancy entitlements.
24th-February-2004 |
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