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Version date: 13 March 2008 - onwards
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22. Amendment of section 201 (exemptions and reliefs in respect of tax under section 123) of Principal Act.

(1) Section 201 of the Principal Act is amended by inserting the following subsection after subsection (1) -

 "(1A)

(a) In this subsection -

'eligible employee' means an employee, being a person who is being made redundant, who, in relation to a full-time employment, has completed at least 2 years continuous service in that employment or is, for the purposes of the law relating to redundancy, deemed to have at least 2 years continuous service;

'retraining' means a training course, made available by an employer as part of a redundancy package, that is -

(i) designed to impart or improve skills or knowledge relevant to, or intended to be used in, obtaining gainful employment or in the setting up of a business,

(ii) primarily devoted to the teaching or practical application of such skills or knowledge, and

(iii) completed within 6 months of the termination of employment;

'redundancy package', in relation to an eligible employee, means any scheme of compensation offered to the employee on

Comparing proposed amendment...