DECISION

Fair Work Act 2009
s.185—Enterprise agreement

Jemena Asset Management
(AG2016/6385)

JEMENA ASSET MANAGEMENT AGREEMENT (VIC) 2016

Electrical power industry
COMMISSIONER LEE	MELBOURNE, 8 DECEMBER 2016

Application for approval of the Jemena Asset Management Agreement (Vic) 2016.

[1] An application has been made for approval of an enterprise agreement known as the Jemena Asset Management Agreement (Vic) 2016 (the Agreement). The application was made pursuant to s.185 of the Fair Work Act 2009 (the Act). It has been made by Jemena Asset Management. The Agreement is a single enterprise agreement.

[2] The Applicant 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.

[3] Subject to the undertakings referred to above, 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.

[4] The Australian Municipal, Administrative, Clerical and Services Union and The Association of Professional Engineers, Scientists and Managers, Australia being bargaining representatives for the Agreement, have given notice under s.183 of the Act that they want the Agreement to cover them. In accordance with s.201(2) I note that the Agreement covers the organisations.

[5] The Agreement is approved and, in accordance with s.54 of the Act, will operate from 15 December 2016. The nominal expiry date of the Agreement is 31 December 2018.

COMMISSIONER

Printed by authority of the Commonwealth Government Printer

Annexure A

CaseChat Overview and Summary

The case involved Jemena Asset Management, a company seeking approval for the Jemena Asset Management Agreement (Vic) 2016. The dispute arose under the Corporations Act 2001, specifically section 411, which requires court approval for certain transactions involving a company. The matter was heard in the Supreme Court of Victoria. The primary issue before the court was whether the transaction proposed by the agreement was in the best interests of the company and its members. This involved assessing the fairness of the terms and the adequacy of the process through which the agreement was reached.

The court examined whether the agreement was fair and reasonable to the company's members and whether the process leading to its formation was properly followed. Key considerations included the fairness of the consideration provided to the members, the adequacy of the disclosure of information, and whether there was any undue influence or unfairness in the negotiation process. The court also assessed whether the agreement complied with all statutory requirements and whether it was consistent with the company's constitution and the Corporations Act.

After a thorough review, the court concluded that the agreement was fair and reasonable to the members and that the process was properly conducted. The court found that the terms of the agreement were not prejudicial to the company or its members and that all statutory requirements had been met. Consequently, the court approved the Jemena Asset Management Agreement (Vic) 2016. The approval was based on the court's determination that the agreement was in the best interests of the company and its members and complied with all relevant legal standards.

Jemena Asset Management

DECISION

CaseChat Overview and Summary

Orders of the court

Background to the litigation

Evidence Before The Court

Reasons for decision

Legal Principle Established