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Thread: Cede or assigning of your remuneration package. What does this mean?

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    Cede or assigning of your remuneration package. What does this mean?

    I was reading the employment contract of a chap in the youth group I co-ordinate. He has a clause that reads "You may not cede or assign your remuneration package or any part thereof to any other person or organization. The company shall be entitled to refuse or recognise any document which purports to grant any such cession or assignment to any third party of your remuneration package or any part thereof."

    What does this mean?

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    Platinum Member sterne.law@gmail.com's Avatar
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    Cession involves "signing over" a right to someone else.
    Example, I might cede my ownership in shares to Mr ABC as security. In this manner he has a claim and right to those shares subject to the agreement, perhaps default, but there is no need to go the route of I transfer the shares to him and then when the debt is paid he transfers them back.
    Anthony Sterne

    www.acumenholdings.co.za
    DISCLAIMER The above is merely a comment in discussion form and an open public arena. It does not constitute a legal opinion or professional advice in any manner or form.

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    Diamond Member Justloadit's Avatar
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    I would assume that a garnishee order will over rule that clause, as it is instituted by a court of law.
    Victor - Knowledge is a blessing or a curse, your current circumstances make you decide!
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    Site Caretaker Dave A's Avatar
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    I've got a hunch there's a specific risk they're trying to exclude here - and it's probably not garnishee orders.

    What line of employment does this contract entail?
    The trouble with opportunity is it normally comes dressed up as work.

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