Treasury Laws Amendment (Fairer for Families and Farmers and Other Measures) Act 2024 (136 of 2024)

Schedule 1   Amendments relating to the cessation of registries modernisation program

Part 1   Transferred staff members

Australian Securities and Investments Commission Act 2001

1   At the end of section 120

Add:

Staff transferred under a machinery of government change

(3) If:

(a) a person is covered by a determination made under paragraph 72(1)(b) of the Public Service Act 1999; and

(b) the determination causes the person to transfer to ASIC by causing the person to:

(i) cease to be an APS employee; and

(ii) become a non-APS employee (within the meaning of subsection 72(6) of that Act) of ASIC;

the person is taken to be employed under subsection (1) of this section.

Note: This means the person becomes a staff member (as defined in section 5) at the time the person becomes a non-APS employee of ASIC under the determination.

(4) Despite subsection (2), during the period that subsection 72(3) of the Public Service Act 1999 has effect for the person in relation to the transfer, the person is entitled to the remuneration and other conditions of employment referred to in subsection 72(3) of that Act.

Note: For when this period ends, see subsection 72(4) of that Act.