Insurance (Intermittent Unemployment) Act, 1942

Provisions for securing solvency of Supplementary Unemployment Fund, etc.

46.—(1) Whenever and so often as it appears to the Minister that the Supplementary Unemployment Fund is or is likely to be either insufficient or more than sufficient to discharge the liabilities imposed or about to be imposed upon the said Fund under this Act or that the rates of weekly contributions are or are likely to be excessive or deficient the Minister may, with the concurrence of the Minister for Finance, by regulations do either or both of the following things, that is to say:—

(a) amend the Second Schedule to this Act by substituting for the respective rates of weekly contributions set out in the second and third columns of that Schedule such other rates of weekly contributions as he thinks fit but not so as to vary the rates of weekly contributions unequally as between employers and insured persons,

(b) amend the Third Schedule to this Act by substituting for the hourly rates of supplementary benefit set out in the second column of that Schedule such other hourly rates of supplementary benefit as he thinks fit.

(2) References in sub-section (1) of this section to the Second Schedule to this Act and to the Third Schedule to this Act shall be construed as references to the said Schedules respectively as amended by any regulations previously made under the said sub-section (1).