Are there any legal obligations for employees during a business sale?

When selling a business, employees’ rights need to be considered:

• Employee Transfer is where the new owner may choose to retain employees under the same terms or offer new contracts.
• Entitlements isa where if employees are not transferred, the seller is typically responsible for paying out any accrued leave, redundancy or long service entitlements.
• Consultation is where under the Fair Work Act, sellers must notify employees if the sale affects their job security.