Does the Fair Work Act have any special rules in relation to the buying or selling of businesses?
Yes. Under the Act, a change in ownership is usually considered to be a ‘transfer of business’. When a transfer takes place, an agreement or award that applied to employees before the transfer will, in most cases, still continue to apply after the transfer is complete. This ensures employees continue to receive the same entitlements. The rules relating to transfers of business are quite technical so if you are unsure you should seek specialist advice when buying or selling a business.
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