S.I. No. 191/1981 - Redundancy Payments (Lump Sum) Regulations, 1981.

S.I. No. 191 of 1981.

REDUNDANCY PAYMENTS (LUMP SUM) REGULATIONS, 1981.

I, TOM NOLAN, Minister for Labour, in exercise of the power conferred on me by section 4 (2) (a) of the Redundancy Payments Act, 1979 (No. 7 of 1979), with the consent of the Minister for Finance, and having taken into account the matters referred to in section 4 (3) of that Act, hereby make the following Regulations:

1. These Regulations may be cited as the Redundancy Payments (Lump Sum) Regulations, 1981 and shall come into operation on the 1st day of June, 1981.

2. The amount referred to in paragraph 2 of Schedule 3 of the Redundancy Payments Act, 1967 (No. 21 of 1967) (inserted by section 4 (1) of the Redundancy Payments Act, 1979 (No. 7 of 1979)) is hereby varied by the substitution of "£8,500" for "£5,000".

GIVEN under my Official Seal, this 21st day of May, 1981.

TOM NOLAN,

Minister for Labour.

The Minister for Finance hereby consents to the making of the foregoing Regulations.

GIVEN under the Official Seal of the Minister for Finance, this 21st day of May, 1981.

GENE FITZGERALD,

Minister for Finance.

EXPLANATORY NOTE.

The purpose of these Regulations is to raise the ceiling on annual reckonable earnings to be taken into account in the calculation of a redundancy lump sum payment from £5,000 to £8,500, from 1st June, 1981. Workers who are made redundant on or after that date whose annual earnings are in excess of £5,000, will benefit.