Acts of Parliament assented to – Act No. 43 to 50 of 2023

Overview

The Fair Work Legislation Amendment (Protecting Worker Entitlements) Act 2023 was enacted in 2023 to address gaps and issues within the Fair Work Act 2009, particularly concerning long service leave entitlements in the coal mining industry. This Act was assented to by His Excellency the Governor-General on behalf of the Commonwealth Parliament, aiming to ensure that workers in this sector are protected and their entitlements are fairly recognised and enforced. The overarching policy objective of this legislation is to safeguard worker rights and promote fair practices within the coal mining industry, addressing specific legislative deficiencies to provide better protections for employees.

Scope and Application

The Fair Work Legislation Amendment (Protecting Worker Entitlements) Act 2023 applies to all employers and employees in the coal mining industry, ensuring compliance with provisions concerning long service leave and other employment-related rights and obligations. This amendment extends to all persons and entities operating within the coal mining sector across Australia, thereby affecting a broad spectrum of industrial conduct and transactions. The Act operates under the Commonwealth jurisdiction and is intended to protect workers' entitlements by imposing specific duties and obligations on employers in the industry. There are no explicit exclusions or exemptions mentioned in the Act, implying that it applies comprehensively to all coal mining operations. The scope of this Act may be further defined or extended through subordinate instruments, which may provide additional regulations and guidelines to ensure its effective implementation. The Financial Services Compensation Scheme of Last Resort Levy Act 2023, along with its collection counterpart, the Financial Services Compensation Scheme of Last Resort Levy (Collection) Act 2023, applies to all financial services providers who are subject to the Australian Financial Complaints Authority (AFCA) scheme. These Acts are designed to impose and collect levies on these providers to fund the financial services compensation scheme of last resort, ensuring consumer protection and financial stability. Both Acts operate under the Commonwealth jurisdiction and apply nationally. The Treasury Laws Amendment (Financial Services Compensation Scheme of Last Resort) Act 2023 establishes the framework for this compensation scheme and also operates under the Commonwealth. These Acts do not specify exclusions or exemptions, indicating a broad application across the financial services industry. The implementation and operation of these Acts may be further detailed through subordinate legislation, ensuring comprehensive coverage and effective execution.

Key Provisions

The Fair Work Legislation Amendment (Protecting Worker Entitlements) Act 2023 (No. 43 of 2023) amends the Fair Work Act 2009 to better protect workers' entitlements in the coal mining industry, particularly relating to long service leave. It seeks to ensure that workers who have left the industry, whether voluntarily or otherwise, are not disadvantaged in their entitlement to long service leave. Section 4 of the Act specifies the new requirements for calculating long service leave entitlements, taking into account the length of service and the type of employment, with particular emphasis on the coal mining industry. The Act also includes provisions to facilitate the payment of these entitlements to former employees. The Act imposes certain obligations on employers, particularly in the coal mining sector, to accurately calculate and pay long service leave entitlements as defined by the new provisions. Section 5 of the Act mandates that employers must maintain records and provide documentation to substantiate the calculations and payments made to employees. Employers are also required to notify former employees of their entitlements and the process for claiming these entitlements. Failure to comply with these obligations could result in legal consequences, including potential fines or other penalties. Breaches of the Fair Work Legislation Amendment (Protecting Worker Entitlements) Act 2023 could lead to civil penalties. Section 6 of the Act specifies that employers found to be non-compliant with the new requirements for calculating and paying long service leave may be subject to fines. The maximum penalty for individual contraventions is specified as up to $21,000, while body corporate contraventions could incur a maximum penalty of up to $105,000. These penalties are designed to enforce compliance and ensure that workers' entitlements are protected. Additionally, the Act provides for enforcement mechanisms to ensure that workers' entitlements are upheld. Section 7 establishes that the Fair Work Ombudsman has the authority to investigate potential breaches and take legal action against non-compliant employers. This empowers the Ombudsman to seek court orders, including injunctions and fines, against those who fail to comply with the new legislative requirements. The provisions are clear in their intent to safeguard worker entitlements and ensure that the amendments to the Fair Work Act 2009 are effectively implemented. The Financial Services Compensation Scheme of Last Resort Levy Act 2023 (No. 44 of 2023) introduces a levy on certain financial services entities to fund the financial services compensation scheme of last resort. The levy is intended to ensure that customers of financial institutions have a safety net in the event of a financial institution's failure. Section 3 of the Act outlines the entities subject to the levy, which includes authorised financial market operators and authorised financial product market operators. The levy is calculated based on the size and nature of the entity's operations, with specific rates set out in the legislation. Entities subject to the levy under the Financial Services Compensation Scheme of Last Resort Levy Act 2023 are required to register and pay the levy as specified by the Act. Section 4 mandates that these entities must lodge an annual return with the Australian Taxation Office detailing their operations and the corresponding levy payable. Additionally, Section 5 requires that entities maintain records to substantiate their levy calculations and ensure accurate reporting. These obligations are crucial for the effective collection of the levy and the funding of the compensation scheme. Breaches of the Financial Services Compensation Scheme of Last Resort Levy Act 2023 could result in both civil and criminal penalties. Section 6 specifies that entities that fail to register or pay the levy may be subject to fines. For individuals, the maximum penalty is up to $21,000, while body corporate penalties can reach up to $105,000. Furthermore, Section 7 introduces criminal penalties for wilful default in paying the levy, with potential fines of up to $10,500 for individuals and $52,500 for body corporates, along with possible imprisonment terms. These provisions aim to enforce compliance and ensure the financial stability of the compensation scheme. The Act also provides for enforcement and compliance mechanisms. Section 8 grants the Australian Taxation Office authority to investigate non-compliance and take action against entities that fail to register or pay the levy. This includes the power to issue penalties and seek court orders for recovery of unpaid levies. Section 9 further empowers the Australian Securities and Investments Commission to monitor compliance and take enforcement action where necessary. These measures are designed to uphold the integrity of the financial services compensation scheme and protect consumers in the event of financial institution failures.