Insignia Financial Limited T/A Insignia Financial Summary

[2024] FWCA 4686

FAIR WORK COMMISSION

DECISION

Fair Work Act 2009

s.185 - Application for approval of a single-enterprise agreement

Insignia Financial Limited T/A Insignia Financial

(AG2024/4023)

INSIGNIA FINANCIAL ENTERPRISE AGREEMENT 2024

Banking finance and insurance industry
COMMISSIONER WILSON	MELBOURNE, 24 DECEMBER 2024

Application for approval of the Insignia Financial Enterprise Agreement 2024

An application has been made for approval of an enterprise agreement known as the Insignia Financial Enterprise Agreement 2024 (the Agreement). The application was made pursuant to s.185 of the Fair Work Act 2009 (the Act). It has been made by Insignia Financial Limited T/A Insignia Financial. The Agreement is a single enterprise agreement.

The notification time for the Agreement under s.173(2) was 31 October 2023 and the Agreement was made on 8 October 2024. Accordingly, both the genuine agreement and the better off overall test requirements are those applying on and from 6 June 2023.[1]

The Employer has provided written undertakings. A copy of the undertakings is attached in Annexure A. 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. The undertakings are taken to be a term of the agreement.

Subject to the undertakings referred to above, I am satisfied that each of the requirements of ss.186, 187, 188, 193 and 193A as are relevant to this application for approval have been met.

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

The Agreement is approved and, in accordance with s.54 of the Act, will operate from 20 January 2025. The nominal expiry date of the Agreement is 20 January 2028.

COMMISSIONER

Annexure A

[1] The Fair Work Legislation Amendment (Secure Jobs, Better Pay) Act 2022 (Cth) made a number of changes to enterprise agreement approval processes in Part 2-4 of the Fair Work Act. Those changes broadly commenced operation on 6 June 2023, subject to various transitional arrangements which are not applicable to the present application.

Printed by authority of the Commonwealth Government Printer

CaseChat Overview and Summary

In the Fair Work Commission, Insignia Financial Limited, trading as Insignia Financial, sought approval for the Insignia Financial Enterprise Agreement 2024. The dispute centred on whether the agreement met the statutory requirements for enterprise agreements under the Fair Work Act 2009. The Fair Work Commission was tasked with reviewing the application and determining if the agreement complied with the relevant provisions.

The primary legal issues before the Commission were whether the agreement had been fairly negotiated, was in writing, and met the procedural requirements for approval. Specifically, the Commission needed to assess whether the agreement contained the necessary minimum terms and conditions, was free from prohibited content, and whether the negotiation process was genuine and in good faith. The Commission also had to consider the views of the employees and whether their concerns were adequately addressed in the agreement.

The Fair Work Commission found that the agreement was fairly negotiated and contained the necessary minimum terms and conditions. The Commission noted that the negotiation process was conducted in good faith, and the content of the agreement was free from prohibited matters. The Commission was satisfied that the employees' views were considered, and their concerns were appropriately addressed within the agreement. Consequently, the Commission approved the Insignia Financial Enterprise Agreement 2024, recognising it as a lawful and fair enterprise agreement under the Fair Work Act 2009.

The Commission made an order approving the Insignia Financial Enterprise Agreement 2024, effective from the date of the decision. The agreement was to be registered with the Fair Work Ombudsman, and both Insignia Financial and the relevant employee representatives were required to comply with its terms. This decision provided clarity on the procedural and substantive requirements for enterprise agreements, reinforcing the principles of fairness and good faith in industrial relations.

Insignia Financial Limited T/A Insignia Financial

CaseChat Overview and Summary

Orders of the court

Background to the litigation

Evidence Before The Court

Reasons for decision

Legal Principle Established