CMC Markets Stockbroking Services Pty Ltd (CMC) t/a CMC Markets Australia

[2020] FWCA 893

[2020] FWCA 893

FAIR WORK COMMISSION

DECISION

Fair Work Act 2009
s.185—Enterprise agreement

CMC Markets Stockbroking Services Pty Ltd (CMC) t/a CMC Markets Australia
(AG2019/4609)

CMC MARKETS ENTERPRISE AGREEMENT 2019-2021

Banking finance and insurance industry
DEPUTY PRESIDENT MANSINI	MELBOURNE, 26 FEBRUARY 2020

Application for approval of the CMC Markets Enterprise Agreement 2019-2021.

[1] CMC Markets Australia has applied for approval of a single enterprise agreement known as the CMC Markets Enterprise Agreement 2019-2021 (the Agreement) pursuant to s.185 of the Fair Work Act 2009 (Cth) (the Act).

[2] Since the application was made, the Commission raised concerns about the form of the application and whether the Agreement contravenes s.55 of the Act and passes the better off overall test. Further information was provided in relation to these concerns.

[3] Noting clause 4 of the Agreement, I am satisfied that the more beneficial entitlements of the National Employment Standards in the Act (NES) will prevail where there is an inconsistency between the Agreement and the NES.

[4] The Applicant sought to correct an error in its statutory declaration supporting the application, which was explained as typographical in nature. In the circumstances, I am satisfied that this amendment should be allowed and that it is appropriate to do so pursuant to s.586 of the Act.

[5] Written undertakings were given in accordance with s.190 of the Act and are attached at Annexure A (Undertakings). The bargaining representative supported the Undertakings. I am satisfied that the Undertakings will not cause financial detriment to any employee covered by the Agreement and that the Undertakings will not result in substantial changes to the Agreement. Pursuant to s.201(3) of the Act, the Undertakings are taken to be terms of the Agreement.

[6] On the basis of the material contained in the application, amended statutory declaration, further information provided on request of the Commission and the Undertakings, I am satisfied that each of the requirements of ss.186, 187, 188 and 190 as are relevant to this application for approval have been met.

[7] The Finance Sector Union of Australia, being a bargaining representative for the Agreement, has given notice under s.183 of the Act. In accordance with s.201(2), I note that the Agreement covers this organisation.

[8] The Agreement was approved on 26 February 2020 and, in accordance with s.54, will operate from 4 March 2020. The nominal expiry date of the Agreement is 31 August 2021.

DEPUTY PRESIDENT

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Annexure A