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Chris The Lawyer
Chris The Lawyer, Lawyer
Category: New Zealand Law
Satisfied Customers: 22977
Experience:  38 years qualified as a lawyer; LLB, MMgt and FAMINZ.
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The company I work for has been sold and take over date is

Customer Question

The company I work for has been sold and take over date is 31st October the old owner still owns 50% of the company.
What I would like to know is on the 31st do I need to give notice to the new owner or can I just hand my notice in and will I still receive all my holiday pay and alternate holiday pay that is owed to me from the old owner?
Submitted: 11 months ago.
Category: New Zealand Law
Expert:  Chris The Lawyer replied 11 months ago.

You don't have to give notice if you don't want to for the 31st October. But if you do give notice you are entitled to your holiday pay and other payments. From your description it sounds as though the shares in the company have been sold, but not the company itself. So your employer remains as the company, and the company must pay the holiday pay and other entitlements.