S.I. No. 181/1993 - Social Welfare Act, 1992 (Section 13) (Commencement) Order, 1993.

S.I. No. 181 of 1993.

SOCIAL WELFARE ACT, 1992 (SECTION 13) (COMMENCEMENT) ORDER, 1993.

The Minister for Social Welfare, in exercise of the powers conferred on him by section 13 of the Social Welfare Act, 1992 (No. 5 of 1992), hereby orders as follows:—

1 Citation.

1. This order may be cited as the Social Welfare Act, 1992 (Section 13) (Commencement) Order, 1993.

2 Commencement.

2. Section 13 of the Social Welfare Act, 1992 shall come into operation on the 25th day of June, 1993.

GIVEN under the Official Seal of the Minister for Social Welfare this 25th day of June, 1993.

MICHAEL WOODS,

Minister for Social Welfare.

EXPLANATORY NOTE.

This order brings Section 13 of the Social Welfare Act, 1992 into effect from 25 June, 1993.

Section 13 brings into primary legislation provisions previously contained in Regulations relating to the assessment of means for pension of a prescribed amount of the proceeds derived from the sale of the person's principal residence. This exemption applies to recipients of social assistance payments aged 66 or over.

The section provides that the exemption will apply to either the agreed sale price of the residence, or, where alternative accommodation is purchased the difference between the agreed sale price of the former residence and the agreed purchase price of the replacement residence.