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Version status: Repealed | Document consolidation status: Updated to reflect all known changes
Version date: 1 May 1990 - onwards
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26. Establishment of the Redundancy Fund.

Repealed from 1 May 1990

(1) For the purposes of this Act there shall be established a fund which shall be known as the Redundancy and Employers' Insolvency Fund, into which there shall be paid all moneys received by the Minister under this Part and out of which payments shall be made in accordance with this Act.

(2) The Redundancy and Employers' Insolvency Fund shall comprise a current account, to be managed and controlled by the Minister, and an investment account, to be managed and controlled by the Minister for Finance.

(3) Save where otherwise specifically provided, sums payable into the Redundancy and Employers' Insolvency Fund shall be paid into the current account thereof and sums payable out of the Redundancy and Employers' Insolvency Fund shall be paid out of that account.

(4) Moneys standing to the credit of the current account of the Redundancy and Employers' Insolvency Fund and not required to meet current expenditure shall be transferred to the investment account of the Redundancy and Employ

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