Banked Time definition

Banked Time means the amount of time by which Flextime is reduced by one or more days at the end of a settlement period for the purpose of being recredited to the officer to cover approved absences from work in future settlement periods.

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Banked Time shall be as follows:

Banked Time means time banked with the Employer in lieu of cash payment, which is accumulated to provide the employee with paid leave at a time that is mutually agreed;

Examples of Banked Time in a sentence

• Banked Time is to be used within one hundred and twenty (120) days of it being earned and no later than the end of the fiscal year in which it was earned.

• Banked Time is to be taken at a time mutually agreed between the employee and the Employer, through a time off request by the employee to their Manager, but cannot be used to create an overtime situation.

• The pay may not be transferred to or from the normal bank of hours created under the Banked Time Policy.

• Banked Time will not be paid out except upon termination of employment.

• The following Banked Time in Lieu Of Overtime agreement shall apply to all PWU represented employees as follows: An employee who has accumulated overtime hours shall receive this in earnings, calculated at the appropriate premium rate and cannot be required to take time off in lieu of payment.

More Definitions of Banked Time

Banked Time means the equivalent leave with pay taken in lieu of payment.

Banked Time shall include all hours worked at overtime, statutory holiday time and stand by.

Banked Time is the quantum of time accumulated under Banking of Time arrangements. “Chief Executive” means a person appointed to, or assigned to act in, the position of Chief Executive of ForestrySA and shall include their delegate(s). “Classification and Remuneration Structure” or “C&RS” means the 10 level classification and remuneration structure contained in this Agreement as set out in Schedule 1. “Commissioner Standards” means a Standard made, varied or substituted for by the Commissioner for Public Sector Employment (CPSE) under the Public Sector Management Act 1995, and includes any standard, determination, direction or other instrument that may be made, varied or substituted for by the CPSE after the commencement of the Public Sector Act 2009. “CPSE” means the Commissioner for Public Sector Employment, delegate thereof, or a person holding or acting in the position of Commissioner for Public Sector Employment.

Banked Time means time bankedwith the Employer in lieu of cash payment, which accumulated to provide the employee with paid leave at a time that is mutually agreed: Employee" means a person employed by the Employer for a period not to four (4) months. A casual employee a member of the Bargaining Unit. If the casual employment four (4) monthsthe employee shall be considered a term employee and shall be to all in this Collective Agreement retroactive back to the original date of hire;

Banked Time through: i. Rostered days off. it. Accumulation of time off in lieu.

Banked Time is the quantum of time accumulated under Banking of Time arrangements. “Chief Executive” means a person appointed to, or assigned to act in, the position of Chief Executive of ForestrySA and shall include their delegate(s). “Classification and Remuneration Structure” means the 10 level classification and remuneration structure contained in this Agreement as set out in Schedule 1. “Crib Break” means a period of time during which an employee takes sustenance while remaining on duty or available for duty and if necessary will resume the performance of duties, which time either counts as part of the employee’s ordinary hours or accrues Banked Time. “Commissioner Standards” means a Standard made, varied or substituted for by the Commissioner for Public Sector Employment (CPSE) under the Public Sector Management Act 1995, and includes

Banked Time is the terminology given to those hours/days nominated by an employee to be banked at the end of a settlement period.