Tag: Fair Work Act

2012?$


2012 may yet turn out to be a tumultuous year, albeit for different – principally economic and financial – reasons. It’s all a bit worrying, depressing even. That’s what happens when you catch up on financial news in this climate I guess.

I have not read financial news for a while now. My current role does not require this beyond the most cursory glance at interest rate trends and general property market well being.

Just for fun however I decided to catch up on some news and it was a mistake. 2012 now feels like a harbinger of bad things, from the perspective of how the economy and finance will fare.

First there’s this swathe of industrial disputes fought out in a climate of economic uncertainty as a result of what’s happening in Europe. Collective agreements companies rushed to sign before the Fair Work Act – courtesy of Julia Gillard – kicked in after Rudd got into the Lodge, are due to expire in 2012. So apparently workers and employers are slugging it out in anticipation of new deals and the Fair Work Act is apparently more focused on processes than outcomes.

Then there’s the credit outlook. With banks exposed to the sick men of Europe seeking to make up gaping holes, borrowing – mainly the interbank sort – is going to be a lot more expensive. Bond on the other hand are seeing low yields as a result of capital leaving Europe and seeking new low risk parking lots. Apparently companies thought 2012 would see the GFC ending so heaps of corporate bonds were structured to mature then. A host of factors would combine to heap pressure on funding and make the business environment very difficult.

I wonder what 2012 would look like. It probably isn’t “The End” but it looks like it could well be messy.

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Fair Work Act to break Qantas strike?


Alan Joyce‘s apparent brinksmanship is exciting to watch. At least to a neutral observer like yours truly. The Qantas industrial action has been going on and has been otherwise boring but this swashbuckling Irishman wields quite a weapon.

The entire Qantas fleet has now been grounded and the Transport Minister said an application under the Fair Work Act would be made. Section 424 of the Fair Work Act says this:

424 FWA must suspend or terminate protected industrial action—endangering life etc.

Suspension or termination of protected industrial action

(1) FWA must make an order suspending or terminating protected industrial action for a proposed enterprise agreement that:

(a) is being engaged in; or

(b) is threatened, impending or probable;

if FWA is satisfied that the protected industrial action has threatened, is threatening, or would threaten:

(c) to endanger the life, the personal safety or health, or the welfare, of the population or of part of it; or

(d) to cause significant damage to the Australian economy or an important part of it.

(2) FWA may make the order:

(a) on its own initiative; or

(b) on application by any of the following:

(i) a bargaining representative for the agreement;

(ii) the Minister;

(iia) if the industrial action is being engaged in, or is threatened, impending or probable, in a State that is a referring State as defined in section 30B or 30L—the Minister of the State who has responsibility for workplace relations matters in the State;

(iib) if the industrial action is being engaged in, or is threatened, impending or probable, in a Territory—the Minister of the Territory who has responsibility for workplace relations matters in the Territory;

(iii) a person prescribed by the regulations.

Application must be determined within 5 days

(3) If an application for an order under this section is made, FWA must, as far as practicable, determine the application within 5 days after it is made.

Interim orders

(4) If FWA is unable to determine the application within that period, FWA must, within that period, make an interim order suspending the protected industrial action to which the application relates until the application is determined.

(5) An interim order continues in operation until the application is determined.

So it looks like at the most the industrial action should end no more than 5 days from the time the application is lodged (Monday?) but given the bloodletting this has caused, we’re probably going to get some form of orders by Monday. Otherwise many people’s Melbourne Cup day would turn into horse manure…

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