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Overseas Investment Act 2005

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

69: No compensation for technical redundancy

You could also call this:

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

Illustration for Overseas Investment Act 2005

If you are an employee who is being transferred, you are not entitled to receive any payment or benefit because your position at the Reserve Bank no longer exists due to the Commission being dissolved. You are also not entitled to any payment or benefit just because you are no longer an employee of the Reserve Bank after being transferred to LINZ. This means you will not get any extra money or benefits just because your job or employer is changing.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM358095.

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

69No compensation for technical redundancy

  1. A transferring employee is not entitled to receive any payment or any other benefit on the ground that—

  2. the position held by the person with the Reserve Bank has ceased to exist (as a result of the dissolution of the Commission); or
    1. the person has ceased (as a result of the transfer to LINZ) to be an employee of the Reserve Bank.