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Financial Markets Authority Act 2011

Miscellaneous provisions - Transitional provisions - Miscellaneous provisions

81: Ministry of Economic Development employees

You could also call this:

“Rules about Ministry workers getting new jobs at the Financial Markets Authority”

If you work for the Ministry of Economic Development, you need to know about a special rule. This rule applies if your job at the Ministry ends because of changes related to setting up the Financial Markets Authority (FMA).

Here’s what you need to know:

You won’t get any special payment or benefit just because your job at the Ministry ended. This is true if the FMA offers you a suitable new job. The FMA needs to offer you this job between when this law was approved and six months after it started working. The new job should start on or after the day the FMA began operating.

This rule is more important than some other employment laws. It overrides Part 6A of the Employment Relations Act 2000, which usually protects workers when their job changes.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM3231791.

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Part 4 Miscellaneous provisions
Transitional provisions: Miscellaneous provisions

81Ministry of Economic Development employees

  1. An employee is not entitled to receive any payment or other benefit on the ground that his or her position in the Ministry of Economic Development has ceased to exist if—

  2. the position ceases to exist as a result of a change in the functions of the Ministry of Economic Development or the Registrar of Companies in connection with the establishment of the FMA; and
    1. the person is offered a suitable alternative position by the FMA; and
      1. the offer is made—
        1. in the period between the date on which this Act receives the Royal assent and the date that is 6 months after the commencement date; and
          1. for employment that commences on or after the commencement date.

          2. This section overrides Part 6A of the Employment Relations Act 2000.