A proposed settlement by Toronto-based Bank of Nova Scotia (TSX:BNS) for an unpaid overtime class action received court approval on Tuesday.

“We put forward a fair proposal for settlement to the Superior Court of Ontario and we are pleased with today’s decision,” said the bank in a statement. “We are now inviting all eligible class members to make claims for any overtime that was worked but not previously compensated during the period identified.”

The bank first proposed the settlement in July.

Under the settlement, any individual who worked overtime as a full-time personal banking employee – including personal banking officer, senior personal banking officer, financial advisor or account manager small business – between Jan. 1, 2000 and Dec. 1, 2013, has a claim. The class consists of about 5,000 individuals.

The lead plaintiff for the case, Cindy Fulawka, worked for the bank for almost 20 years in Saskatchewan and Ontario. For most of that time, Fulawka worked as a personal banker.

The settlement is based on a claims made process and as such the total amount paid to the class members will not be known until all claims are processed. There is no limit on the total payout the bank may make. The Toronto-based law firms Roy O’Connor LLP, Sack Goldblatt Mitchell LLP and Sotos LLP are acting on behalf of the class members.