A contract of employment, whether concluded before or after the coming into operation of any applicable collective agreement or arbitration award, may not-
permit an employee to be paid remuneration that is less than that prescribed by that collective agreement or arbitration award;
permit an employee to be treated in a manner, or to be granted any benefit, that is less favourable than that prescribed by that collective agreement or arbitration award; or
A provision in any contract that purports to permit or grant any payment, treatment, benefit, waiver or exclusion prohibited by subsection (1) is invalid.