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Termination allowances for former members of Oireachtas.
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5.—(1) A member of either House of the Oireachtas who ceases to be such a member may, on such cesser and subject to regulations made under this section, be granted an allowance, referred to subsequently in this section as “a termination allowance”, payable out of moneys provided by the Oireachtas.
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(2) The Minister for Finance may by regulations determine—
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(a) the rate or rates of a termination allowance payable to a former member or members of Dáil Éireann,
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(b) the rate or rates of a termination allowance payable to a former member or members of Seanad Éireann, and
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(c) in respect of a former member or members of either House of the Oireachtas, such restrictions and conditions governing entitlement to and payment of a termination allowance as the Minister thinks fit.
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(3) Every regulation made under this section shall be laid before each House of the Oireachtas as soon as may be after it is made and, if a resolution annulling the regulation is passed by either House within the next 21 days on which that House has sat after the regulation has been laid before it, the regulation shall be annulled accordingly, but without prejudice to the validity of anything previously done thereunder.
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(4) This section shall come into operation on such day as the Minister for Finance may appoint by order, being a day not earlier than the passing of this Act.
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