S.I. No. 696/2004 - Protection of Employees (Employers' Insolvency) (Variation of Limit) Regulations 2004

STATUTORY INSTRUMENTS.

S.I. No. 696 of 2004 .

PROTECTION OF EMPLOYEES (EMPLOYERS' INSOLVENCY) (VARIATION OF LIMIT) REGULATIONS 2004.

S.I. No. 696 of 2004 .

PROTECTION OF EMPLOYEES (EMPLOYERS’ INSOLVENCY) (VARIATION OF LIMIT) REGULATIONS 2004.

I, MICHEÁL MARTIN, Minister for Enterprise, Trade and Employment, in exercise of the powers conferred on me by section 11(5) of the Protection of Employees (Employers’ Insolvency) Act 1984 (No. 21 of 1984) and the Labour (Transfer of Departmental Administration and Ministerial Functions) Order 1993 ( S.I. No. 18 of 1993 ) as adapted by the Enterprise and Employment (Alteration of Name of Department and Title of Minister) Order 1997 ( S.I. No. 305 of 1997 ), hereby make the following regulations:

1. These Regulations may be cited as the Protection of Employees (Employers’ Insolvency) (Variation of Limit) Regulations 2004.

2. In these Regulations the “Act of 1984” means the Protection of Employees (Employers’ Insolvency) Act 1984 (No. 21 of 1984).

3. (1) Section 6(4)(a) of the Act of 1984 is amended by substituting “€600” for “ £400.00” (inserted by the Protection of Employees (Employers’ Insolvency) (Variation of Limit) Regulations 2001 ( S.I. No. 42 of 2001 )) in each place where it occurs in respect of debts to which that Act applies and where the relevant date is not earlier than the 1st day of January 2005.

(2) In this Regulation “the relevant date” has the meaning assigned to it by section 6(9) of the Act of 1984.

EXPLANATORY NOTE.

(This note is not part of the Instrument and does not purport to be a legal interpretation.)

These Regulations increase the maximum amount of weekly pay which may be used for the purposes of calculating employee entitlements under the Protection of Employees (Employers’ Insolvency) Act 1984 from €507.90 to €600.00. The increased limit will apply to entitlements arising under the Act where the relevant date is on or after 1st January 2005. (The relevant date is normally the date of insolvency of the employer. However, in certain circumstances the employee has the option of nominating either the date of insolvency or the date of termination of employment, whichever date is the more favourable.)