S.I. No. 64/1994 - Redundancy Payments (Lump Sum) Regulations, 1994.

S.I. No. 64 of 1994.

REDUNDANCY PAYMENTS (LUMP SUM) REGULATIONS, 1994.

I, RUAIRÍ QUINN, Minister for Enterprise and Employment, in exercise of the powers conferred on me by section 4 (2) ( a ) of the Redundancy Payments Act, 1979 (No. 7 of 1979), and the Labour (Transfer of Departmental Administration and Ministerial Functions) Order, 1993 ( S.I. No. 18 of 1993 ), 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, 1994, and shall come into operation on the 1st day of May, 1994.

2. In these Regulations "the Regulations of 1990" means the Redundancy Payments (Lump Sum) Regulations, 1990 ( S.I. No. 18 of 1990 ).

3. 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), and varied by the Regulations of 1990), is hereby varied by the substitution of "£15,600" for "£13,000".

GIVEN under my Official Seal, this 25th day of March, 1994.

RUAIRÍ QUINN.

Minister for Enterprise and Employment.

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

GIVEN under the Official Seal of the Minister for Finance, this 25th day of March, 1994.

BERTIE AHERN.

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 statutory redundancy lump sum payment from £13,000 (£250 per week) to £15,600 (£300 per week) from 1st May, 1994. The critical date for determining whether the higher ceiling should apply in any particular case is the date on which notification of proposed dismissal by reason of redundancy is issued.