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Overseas Investment Act 2005

Consent and conditions regime - Transitional provisions and amendments to other enactments - Dissolution of Commission

68: Continuity of employment

You could also call this:

"Keeping your job when the employer changes"

Illustration for Overseas Investment Act 2005

When the Overseas Investment Act 2005 changes, you become an employee of LINZ if you were working for the Commission. This happens when section 63 starts. You keep your job and it is like you never changed employers. Your time working for the Commission counts as time working for LINZ, so you don't lose any of your service history.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM358094.

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67: Transferring employee must be employed in equivalent employment, or

"You get a similar job at LINZ with the same or better pay and conditions."

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69: No compensation for technical redundancy, or

"No extra pay if your job changes due to the law"

Part 2Consent and conditions regime
Transitional provisions and amendments to other enactments: Dissolution of Commission

68Continuity of employment

  1. Every transferring employee becomes an employee of LINZ on the commencement of section 63.

  2. However, for the purposes of every enactment, law, determination, contract, and agreement relating to the employment of the employee,—

  3. the employee's contract of employment with LINZ must be treated as a continuation of the employee's contract of employment with the Reserve Bank; and
    1. the employee's period of service with the Reserve Bank, and every other period of service of that employee that was recognised by the Reserve Bank as continuous service, must be treated as a period of service with LINZ.