Exclusion for personal connection with employer
11 Exclusion for personal connection with employer
A person is not eligible for an advance for the person’s employment by an employer if:
section 556 of the Corporations Act 2001 applies to the winding up of the employer; and
the person is an excluded employee under that section in relation to the employer.
A person is not eligible for an advance for the person’s employment by an employer who is or was a bankrupt under the Bankruptcy Act 1966 if:
the person is a relative (as defined in the Corporations Act 2001) of the employer; or
the person was a spouse or de facto partner (within the meaning of the Acts Interpretation Act 1901) of the employer at any time within the 12 months ending on the date of the bankruptcy (as defined in the Bankruptcy Act 1966) of the employer.
A person who was employed for a partnership by 2 or more of the partners is not eligible for an advance for that employment if the conditions in subsection (1), or any of the conditions in subsection (2), exist in relation to any of the partners who employed the person.
This section has effect despite section 10.
This Act’s bill:Explanatory memorandumSecond reading speech
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