Continuation of employees’ rights
12 Continuation of employees’ rights
Nothing in this Act prejudices or affects any right that, immediately before the appointed day, had accrued or was accruing under any Act, award or industrial agreement, or under any document constituting or relating to any pension scheme, provident fund or officers’ guarantee fund of an existing bank, to an employee under a contract of employment to which section 6 applies, and —
any such right so accruing shall, until it is lawfully terminated or varied, continue to accrue as if —
this Act had not been enacted; and
service with the Bank were, for the purposes of the Act, award, industrial agreement or document pursuant to which the right was accruing, service with the existing bank that immediately before the appointed day was bound by that contract of employment;
and
any such right so accrued and any such right so accruing, when accrued, shall be enforceable against the Bank instead of against the existing bank in the same way, at the same time and to the same extent as it might have been enforced against the existing bank if this Act had not been enacted.
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