Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) Within 30 days after a waiver agreement, or a varied waiver agreement, is lodged with the Corporation, the Board must:
(a) decide to approve or refuse to approve the agreement or variation; and
(b) give the parties to the agreement or varied agreement written notice of the decision.
(2) If the Board does not make a decision within the 30 day period mentioned in subsection (1), the Board is taken to have approved the waiver agreement or variation (as the case may be).
(3) The Board may only decide to approve a waiver agreement or variation if the Board is satisfied that:
(a) the employee to whom the agreement or variation relates is an eligible employee of a kind mentioned in subsection 39B(1); and
(b) there are no reasonable grounds for believing that the agreement or variation has not been genuinely agreed to by the parties; and
(c) the terms of the agreement, or varied agreement:
(i) do not contravene subsection 39B(2); and
(ii) adequately deal with the matters set out in subsection 39B(4).
(4) If the Board refuses to approve a waiver agreement or a variation, the notice given under paragraph (1)(b) must:
(a) set out the reasons for the refusal; and
(b) include a statement that, subject to the Administrative Review Tribunal Act 2024 , application may be made to the Administrative Review Tribunal for review of the Board's decision.
Note: Section 52B provides that an application may be made to the Administrative Review Tribunal for review of a decision of the Board to refuse to approve a waiver agreement or a variation.
(5) If the Board refuses to approve a waiver agreement, the agreement ceases to have effect on the day the parties to the agreement are notified of the refusal under paragraph (1)(b).
(6) If the Board refuses to approve a variation of a waiver agreement, the variation ceases to have effect on the day the parties to the variation are notified of the refusal under paragraph (1)(b).