Status of Redundancy Payments Bill
|
|
- Willa Freeman
- 5 years ago
- Views:
Transcription
1 Status of Redundancy Payments Bill Member s Bill As reported from the Commerce Committee Recommendation Commentary The Commerce Committee has examined the Status of Redundancy Payments Bill and recommends that it be passed with the amendments shown. Introduction This commentary focuses on the major issues we examined and discusses the amendments recommended to the Status of Redundancy Payments Bill. We have also recommended some technical amendments, which are not covered by this commentary. In considering this bill, we have been conscious of the work undertaken to review insolvency law. The insolvency law review was initiated in 1999 and considered a number of topics, some of which are covered in this bill. We considered the overview of the insolvency law review decisions, and have incorporated the amendments suggested in the review. Background The purpose of the bill is to amend the preferential claim provisions of personal and corporate insolvency legislation to introduce preferential status for employee redundancy entitlements. The amendment gives employee redundancy claims priority over other unsecured claims, and some preferential claims, in an insolvency situation. The bill removes the current limit of $6,000 on preferential claims made 13 2
2 2 Status of Redundancy Payments Commentary by an employee in a corporate insolvency under the Companies Act The bill repeals the Insolvency Amendment Act 1978 and section 104(1)(e)(ii) of the Insolvency Act Clauses 2(i) and 8 from the seventh schedule of the Companies Act 1993 are also repealed. Priority for redundancy compensation We recommend that redundancy entitlements be included within the employee priority. We consider that such entitlements form part of a contractually negotiated package for employees, which may have included trade-offs in relation to wages or salary. Submitters were divided about including employee redundancy payments as a priority. Some submitters argued that it will have an effect on other creditors, and on the cost of capital, and may restrict the availability of capital. This would be a gain to the individual at the expense of other secured creditors, potentially leading to secondary liquidation. A number of other submitters strongly supported employee redundancy payments becoming a priority. We considered the issues raised and on reflection felt that the financial dependence of employees on their employer is greater than that of other creditors who are likely to have many sources of income. We also recommend the exclusion of company directors and controllers from the employee priority. Several submitters raised the possibility that company directors or controllers could use a priority debt provision for redundancy to award themselves redundancy payments, thus circumventing the claims of other creditors. We agree there is a risk of this occurring. Cap on employee priority Submissions were also divided on whether the current $6,000 cap on the employee priority in the Companies Act 1993 should be removed, adjusted, or maintained at its current level. The cap has been set at $6,000 since We consider the cap should be raised to $15,000. We recognise that the removal of the cap may detrimentally affect other creditors, but a $15,000 payment would be sufficient to allow employees to find their feet after a redundancy. We also recommend that the same cap should be inserted in the Insolvency Act 1967.
3 Commentary Status of Redundancy Payments 3 A number of submitters agreed with the decision made by the Government in 2001 that the level of the cap should be subject to periodic review, so that it does not decrease in real terms as a result of inflation. We recommend a clause be inserted in the bill requiring a review of the level of the cap every 3 years in accordance with increases in average weekly earnings. Pay in lieu of notice Contractual payments in lieu of notice 1 are generally treated in law as payments of wages or salary for the notice period. While an employee has a legal entitlement under the Wages Protection Act 1983 for payment for work done, or for the period of notice given, these wages will have priority in an insolvency only if they fall within the wages and salary priority debt provisions of the Companies Act 1993 or the Insolvency Act This provision only provides a priority for wages and salary (and therefore contractual payments in lieu of notice) accrued in the 4 months prior to the commencement of the liquidation or bankruptcy. The insolvency law review proceeded on the key principle that, with limited exceptions, a debtor s assets should be distributed to all creditors equally in proportion to the size of their admitted claims. This recognises the effect of priority debts on other unsecured creditors, and the concern that unsecured creditors will not participate in the insolvency system if they believe they will be unable to recover debts due to them. This can discourage financing and investment and therefore inhibit business innovation. We considered extending the priority for wages and salary past the point of commencement of the liquidation or bankruptcy. However, taking account of the criteria for the introduction of new priority debts, we do not consider that the potential benefits to employees would outweigh the costs in terms of uncertainty and effects on the rights of other unsecured creditors. We do not, therefore, recommend extending the priority of wages and salary past the point of commencement of the liquidation or bankruptcy. 1 Payments in lieu of notice are payments that an employee would receive instead of wages or salary for a contractual period of notice prior to termination of employment.
4 4 Status of Redundancy Payments Commentary Appendix Committee process The Status of Redundancy Payments Bill was referred to the committee on 5 March The closing date for submissions was 17 April We received and considered 13 submissions from interested groups and individuals. We heard 7 submissions. Hearing of evidence took 1 hour 47 minutes and consideration took 55 minutes. We received advice from Ministry of Economic Development. Committee membership Mark Peck (Chairperson) Gerry Brownlee (Deputy Chairperson) Brent Catchpole Russell Fairbrother Rodney Hide Darren Hughes H V Ross Robertson Hon Maurice Williamson Sue Bradford was a member of the committee for the purpose of its consideration of the bill, but without the right to vote on any question before the committee.
5 Mark Peck Status of Redundancy Payments Bill Member s Bill Contents 1 Title Part 2 2 Commencement Amendments to Insolvency Act 1967 Part 1 6 Insolvency Act 1967 called princi- Amendments to Companies Act 1993 pal Act in this Part 3 Companies Act 1993 called principal Insolvency Act 1967 Act in this Part 7 No lien over bankrupt s books, etc 4 Meaning of director 8 Priorities 5 Seventh Schedule amended Consequential repeal 9 Insolvency Amendment Act 1978 The Parliament of New Zealand enacts as follows: 1 Title This Act is the Status of Redundancy Payments Act Commencement This Act comes into force on the 60th day after the date on which it receives the Royal assent. Struck out (unanimous) 3 Purpose The purpose of this Act is to protect the status of redundancy of all workers by amending the schedules of preferential claims in both the Companies Act 1993 and the Companies Act 1955 to include redundancy payments as negotiated in, or documented within or in addition to, the relevant employment agreements when companies go into liquidation or receivership. Companies Act Sections to be read with Companies Act 1955 This section and the next succeding section are part of the Companies Act 1955 (in that section referred to as the principal Act )
6 cl 5 Status of Redundancy Payments Struck out (unanimous) 5 Redundancy payments Clause 2 of Schedule 8C of the principal Act is amended by inserting, after paragraph (b), the following paragraph: (ba) amounts due to any employee in respect of any redundancy agreements or clauses that were either: (i) negotiated or documented as part of any relevant employment agreements; or (ii) negotiated or documented as separate agreements:. Companies Act Sections to be read with Companies Act 1993 This section and the next succeeding section are part of the Companies Act 1993 (in that section referred to as the principal Act ). 7 Redundancy payments (1) The Seventh Schedule of the principal Act is amended by inserting in clause 2, after paragraph (b), the following paragraph: (ba) amounts due to any employee in respect of any redundancy agreements or clauses that were either: (i) negotiated or documented as part of any relevant employment agreements; or (ii) negotiated or documented as separate agreements:. (2) The Seventh Schedule of the principal Act is amended by repealing clause 6. Part 1 Amendments to Companies Act Companies Act 1993 called principal Act in this Part In this Part, the Companies Act is called the principal Act No 105 2
7 Status of Redundancy Payments Part 1 cl 5 4 Meaning of director (1) Section 126(1)(b) of the principal Act is amended by omitting the words and 385, and substituting the words 385, and clause 12(ab) of the Seventh Schedule. (2) Section 126(1)(c) of the principal Act is amended by omitting the words and 385, and substituting the words 385, and clause 12(ab) of the Seventh Schedule. (3) Section 126(1)(d) of the principal Act is amended by inserting, after the expression 149, the words, and clause 12(ab) of the Seventh Schedule. 5 Seventh Schedule amended (1) Clause 2 of the Seventh Schedule of the principal Act is amended by inserting, after paragraph (b), the following paragraphs: (ba) subject to clause 6, any compensation for redundancy owed to an employee that accrues before or by reason of the commencement of the liquidation: (bb) subject to clause 6, any reimbursement or payment provided for, or ordered by, the Employment Relations Authority, the Employment Court, or the Court of Appeal under section 123(b) or section 128 of the Employment Relations Act 2000, to the extent that the reimbursement or payment does not relate to any matter set out in section 123(c) of the Employment Relations Act 2000, in respect of wages or other money or remuneration lost during the 4 months before the commencement of the liquidation:. (2) Clause 2(i) of the Seventh Schedule of the principal Act is repealed. (3) Clause 6 of the Seventh Schedule of the principal Act is amended by (a) omitting the words clause 2(a), (b), (d), or (e) of this Schedule, and substituting the words any, or all, of paragraphs (a), (b), (ba), (bb), (d), and (e) of clause 2 ; and (b) omitting the expression $6,000, and substituting the expression $15,000 ; and 3
8 Part 1 cl 5 Status of Redundancy Payments (c) inserting, after the word prescribed, the words under clause 6A. (4) The Seventh Schedule of the principal Act is amended by inserting, after clause 6, the following clause: 6A The sum stated in clause 6 must be adjusted as follows: (a) subject to paragraph (d), an adjustment must be made, by the Governor-General by Order in Council, after the 3-year period starting on 1 July 2003 and ending on 30 June 2006 and after every 3-year period following that (an adjustment period): (b) subject to paragraph (d), the Order in Council must be made within 3 months of the end of an adjustment period: (c) each adjustment must reflect any overall percentage increase, over the relevant adjustment period, in average weekly earnings (total, private sector), calculated by reference to the last Quarterly Employment Survey published by Statistics New Zealand (or, if that survey ceases to be published, a survey certified by the Government Statistician as an equivalent to that survey) within the relevant adjustment period: (d) if, in an adjustment period, there is no change, or an overall decrease, in the percentage movement in average weekly earnings (total, private sector), as so calculated, no adjustment may be made for that adjustment period: (e) if, in accordance with paragraph (d), no adjustment is made, the next adjustment made for any succeeding adjustment period must reflect any overall percentage increase in average weekly earnings (total, private sector) between the date of the last adjustment and the end of the relevant adjustment period for which the adjustment is to be made: (f) all adjustments are cumulative and must be rounded to the nearest $20: (g) any correction to a Quarterly Employment Survey upon which an adjustment is based must be disregarded until the adjustment that takes effect in the following adjustment period which must reflect the corrected 4
9 Status of Redundancy Payments Part 2 information in the calculation of that adjustment and must otherwise be made in accordance with this clause. (5) Clause 8 of the Seventh Schedule of the principal Act is repealed. (6) Clause 9(a) of the Seventh Schedule of the principal Act is amended by inserting, after the words themselves and, the words, subject to any maximum payment level specified in any Act or regulations,. (7) Clause 12 of the Seventh Schedule of the principal Act is amended by inserting, after paragraph (a), the following paragraph: (ab) employee means any person of any age employed by an employer to do any work for hire or reward under a contract of service (including a homeworker as defined in section 5 of the Employment Relations Act 2000); but does not include a person who is, or was at any time during the 12 months before the commencement of the liquidation, a director of the company in liquidation, or a nominee or relative of, or a trustee for, a director of the company:. (8) The Seventh Schedule of the principal Act is amended by adding the following clause: 13 This schedule, as in force on the date of commencement of a liquidation, continues to apply to that liquidation regardless of any amendment to this schedule that comes into force after the date of commencement of the liquidation. Part 2 Amendments to Insolvency Act Insolvency Act 1967 called principal Act in this Part In this Part, the Insolvency Act is called the principal Act No 54 5
10 Part 2 cl 7 Status of Redundancy Payments Insolvency Act No lien over bankrupt s books, etc Section 73(2) of the principal Act is amended by omitting the words subparagraph (iii) of paragraph (d) of subsection (1) of section 104 of this Act, and substituting the words section 104(1)(d)(v). 8 Priorities (1) Section 104(1) of the principal Act is amended by repealing paragraph (d), and substituting the following paragraph: (d) fourthly, in payment rateably of, (i) subject to subsection (1A), all unpaid wages or salary of any employee, whether or not earned wholly or in part by way of commission, and whether payable for time or for piece work, in respect of services provided to the bankrupt during the 4 months before the adjudication: (ii) subject to subsection (1A), any holiday pay payable to an employee (or, if the employee has died, to any other person in the employee s right) on the termination of the employment before or by reason of the adjudication: (iii) subject to subsection (1A), any compensation for redundancy owed to an employee that accrues before or by reason of the adjudication: (iv) subject to subsection (1A), any reimbursement or payment provided for, or ordered by, the Employment Relations Authority, the Employment Court, or the Court of Appeal under section 123(b) or section 128 of the Employment Relations Act 2000, to the extent that the reimbursement or payment does not relate to any matter set out in section 123(c) of the Employment Relations Act 2000, in respect of wages or other money or remuneration lost during the 4 months before the adjudication: (v) all sums payable under section 73(2): 6
11 Status of Redundancy Payments Part 2 cl 8 (vi) subject to subsection (1A), all amounts payable to the Commissioner of Inland Revenue in accordance with section 163(1) of the Child Support Act 1991: (vii) subject to subsection (1A), all amounts payable to the Commissioner of Inland Revenue in accordance with section 167(2) of the Tax Administration Act 1994 as applied by section 25 of the Student Loan Scheme Act 1992:. (2) Section 104(1)(e)(ii) of the principal Act is repealed. (3) Section 104 of the principal Act is amended by inserting, after subsection (1), the following subsections: (1A) The total sum to which priority is to be given under any, or all, of subparagraphs (1)(d)(i) to (iv), (vi), and (vii) must not, in the case of any one employee, exceed $15,000 or any greater amount that is prescribed under subsection (1B) at the date of adjudication. (1B) The sum stated in subsection (1A) must be adjusted as follows: (a) subject to paragraph (d), an adjustment must be made, by the Governor-General by Order in Council, after the 3-year period starting on 1 July 2003 and ending on 30 June 2006 and after every 3-year period following that (an adjustment period): (b) subject to paragraph (d), the Order in Council must be made within 3 months of the end of an adjustment period: (c) each adjustment must reflect any overall percentage increase, over the relevant adjustment period, in average weekly earnings (total, private sector), calculated by reference to the last Quarterly Employment Survey published by Statistics New Zealand (or, if that survey ceases to be published, a survey certified by the Government Statistician as an equivalent to that survey) within the relevant adjustment period: 7
12 Part 2 cl 8 Status of Redundancy Payments (d) if, in an adjustment period, there is no change, or an overall decrease, in the percentage movement in average weekly earnings (total, private sector), as so calculated, no adjustment may be made for that adjustment period: (e) if, in accordance with paragraph (d), no adjustment is made, the next adjustment made for any succeeding adjustment period must reflect any overall percentage increase in average weekly earnings (total, private sector) between the date of the last adjustment and the end of the relevant adjustment period for which the adjustment is to be made: (f) all adjustments are cumulative and must be rounded to the nearest $20: (g) any correction to a Quarterly Employment Survey upon which an adjustment is based must be disregarded until the adjustment that takes effect in the following adjustment period which must reflect the corrected information in the calculation of that adjustment and must otherwise be made in accordance with this section. (4) Section 104(2) of the principal Act is amended by omitting the words servant or worker wherever they occur, and substituting in each case the word employee. (5) Section 104(3) of the principal Act is amended by (a) omitting the words For the purpose of paragraph (d) of subsection (1) of this section, and substituting the words In this section ; and (b) inserting, before paragraph (a), the following paragraph: (aa) employee means any person of any age employed by an employer to do any work for hire or reward under a contract of service (including a homeworker as defined in section 5 of the Employment Relations Act 2000):. (6) Section 104 of the principal Act is amended by adding the following subsection: (5) This section, as in force on the date on which a person is adjudicated bankrupt, continues to apply to that bankruptcy regardless of any amendment to this section that comes into 8
13 Status of Redundancy Payments Part 2 cl 9 force after the date on which the person is adjudicated bankrupt. Consequential repeal 9 Insolvency Amendment Act 1978 The Insolvency Amendment Act 1978 (1978 No 99) is repealed. Legislative history 7 November 2002 Introduction (Bill 13 1) 5 March 2003 First reading and referred to Commerce Committee Price code: J Wellington, New Zealand: Published under the authority of the House of Representatives bar2.pag 28-JUL-03 9
Protection of Personal and Property Rights Amendment Bill
Protection of Personal and Property Rights Amendment Bill Government Bill As reported from the Social Services Committee Recommendation Commentary The Social Services Committee has examined the Protection
More informationParental Leave and Employment Protection Amendment Bill
Protection Amendment Bill Government Bill As reported from the Social Services Committee Recommendation Commentary The Social Services Committee has examined the Parental Leave and Employment Protection
More informationPrivate Bill. Explanatory note. General policy statement. The principal Act, amongst other things, authorises Trustees Executors
Trustees Executors Limited Amendment Bill Private Bill Explanatory note General policy statement This bill amends the TOWER Trust Limited Act 00 ("the principal Act"), including changing the title of the
More informationMelbourne Water Corporation Act 1992
Section 1. Purpose 2. Commencement 3. Definitions 4. Subsidiary 5. Relationship with MMBW Act No. 54 of 1992 TABLE OF PROVISIONS PART 1 PRELIMINARY PART 2 MELBOURNE WATER CORPORATION 6. MMBW continues
More informationGovernment Bill. Explanatory note. General policy statement
Student Loan Scheme Amendment Bill Government Bill Explanatory note General policy statement Full interest write-off This Bill gives effect to the Government' s intention not to charge interest on student
More informationCorporations Amendment (Life Insurance Remuneration Arrangements) Bill 2016 No., 2016
0 The Parliament of the Commonwealth of Australia HOUSE OF REPRESENTATIVES Presented and read a first time Corporations Amendment (Life Insurance Remuneration Arrangements) Bill 0 No., 0 (Treasury) A Bill
More informationGeographical Indications (Wine and Spirits) Registration Amendment Bill
Geographical Indications (Wine and Spirits) Registration Amendment Bill Recommendation Government Bill As reported from the Primary Production Committee Commentary The Primary Production Committee has
More informationThis Bill amends the Social Security Act The Bill's purpose is to---
Social Security (Social Assistance) Amendment Bill Government Bill 2004 No 193-1 Explanatory Note General policy statement This Bill amends the Social Security Act 1964. The Bill's purpose is to--- o put
More informationClimate Change Response Amendment Bill
Climate Change Response Amendment Bill Government Bill As reported from the Commerce Committee Recommendation Commentary The Commerce Committee has examined the Climate Change Response Amendment Bill and
More informationREPUBLIC OF VANUATU VALUE ADDED TAX (AMENDMENT) ACT NO. 45 OF 2000
Assent 29 December 2000 Commencement 29 January 2001 REPUBLIC OF VANUATU VALUE ADDED TAX (AMENDMENT) ACT NO. 45 OF 2000 Arrangement of Sections 1. Amendment 2. Commencement. 1 Assent 29 December 2000 Commencement
More informationTaxation (KiwiSaver and Company Tax Rate Amendments) Bill
Rate Amendments) Bill Government Bill Explanatory note General policy statement The Government announced in Budget 07 a number of significant enhancements to the taxation system that will increase savings
More informationREPUBLIC OF VANUATU INSURANCE (AMENDMENT) ACT NO. 29 OF Arrangement of Sections
REPUBLIC OF VANUATU INSURANCE (AMENDMENT) ACT NO. 29 OF 2009 Arrangement of Sections 1 Amendment... 2 2 Commencement... 2 Insurance (Amendment) Act No. 29 of 2009 1 Assent: 19/10/09 Commencement: REPUBLIC
More informationAustralian Information Commissioner Act 2010
Australian Information Commissioner Act 2010 No. 52, 2010 An Act to establish the Office of the Australian Information Commissioner, and for related purposes Note: An electronic version of this Act is
More informationSUPERANNUATION BILL 1989
THE PARLIAMENT OF THE COMMONWEALTH OF AUSTRALIA HOUSE OF REPRESENTATIVES (As read a first time) SUPERANNUATION BILL 1989 Section I. 2. 3. Short title Commencement Interpretation TABLE OF PROVISIONS PART
More informationTaxation (Annual Rates and Urgent Measures) Bill
Urgent Measures) Bill Government Bill Explanatory note General policy statement This Bill introduces measures foreshadowed in the 2005 general election campaign. The measures provide tax relief to working
More informationINSOLVENCY LAW REFORM BILL
BILLS DIGEST INSOLVENCY LAW REFORM BILL 2005 Date of Introduction: 21 December 2005 Bills Digest No. 1340 NEW ZEALAND PARLIAMENTARY LIBRARY Bills Digest No. 1340 Published by the Parliamentary Library
More informationTITLE 26 INTERNAL REVENUE CODE
1256 TITLE 26 INTERNAL REVENUE CODE Page 2222 1988 Subsec. (b)(2). Pub. L. 100 647 amended Pub. L. 99 514, 511(d)(2)(A), see 1986 Amendment note below. 1986 Subsec. (b)(2). Pub. L. 99 514, 511(d)(2)(A),
More informationTHE PARLIAMENT OF THE COMMONWEALTH OF AUSTRALIA HOUSE OF REPRESENTATIVES FAIRER PAID PARENTAL LEAVE BILL 2016 EXPLANATORY MEMORANDUM
2016 THE PARLIAMENT OF THE COMMONWEALTH OF AUSTRALIA HOUSE OF REPRESENTATIVES FAIRER PAID PARENTAL LEAVE BILL 2016 EXPLANATORY MEMORANDUM (Circulated by the authority of the Minister for Social Services,
More informationo The Relationships (Statutory References) Bill, comprising subpart 20 of Part 1, Part 2, and Schedules 13, 13A, 14, and 15
Minors' Contracts Amendment Bill Government Bill 2005 No 151-3M As reported from the committee of the whole House This bill was formerly part of the Relationships (Statutory References) Bill, as reported
More informationPublic Sector Employment and Management Amendment (Extended Leave) Act 2005 No 85
New South Wales Public Sector Employment and Management Amendment (Extended Contents Page 1 Name of Act 2 2 Commencement 2 3 Amendment of Public Sector Employment and Management Act 2002 No 43 2 4 Amendment
More informationLocal Government (Elected Member Remuneration and Trading Enterprises) Amendment Bill
Local Government (Elected Member Remuneration and Trading Enterprises) Amendment Bill Government Bill As reported from the committee of the whole House Hon Sandra Lee Local Government (Elected Member Remuneration
More informationBanking Amendment (Covered Bonds) Act 2011
Banking Amendment (Covered Bonds) Act 2011 No. 125, 2011 An Act to amend the Banking Act 1959, and for related purposes Note: An electronic version of this Act is available in ComLaw (http://www.comlaw.gov.au/)
More information743 LIMITED LIABILITY PARTNERSHIPS ACT
LAWS OF MALAYSIA ONLINE VERSION OF UPDATED TEXT OF REPRINT Act 743 LIMITED LIABILITY PARTNERSHIPS ACT 2012 As at 1 March 2017 2 LIMITED LIABILITY PARTNERSHIPS ACT 2012 Date of Royal Assent 2 February 2012
More informationTAXATION LAWS AMENDMENT BILL (No. 4) 1988
THE PARLIAMENT OF THE COMMONWEALTH OF AUSTRALIA HOUSE OF REPRESENTATIVES (As read a first time) TAXATION LAWS AMENDMENT BILL (No. 4) 1988 Section I. 2. Short title Commencement TABLE OF PROVISIONS PART
More informationREVISOR EAP/IL A
1.1... moves to amend H.F. No. 4385, the third engrossment, as follows: 1.2 Delete everything after the enacting clause and insert: 1.3 "ARTICLE 1 1.4 FEDERAL TAX CONFORMITY 1.5 Section 1. Minnesota Statutes
More informationPensions Bill EXPLANATORY NOTES
EXPLANATORY NOTES Explanatory notes to the Bill, prepared by the Department for Work and Pensions, are published separately as Bill 6 EN. EUROPEAN CONVENTION ON HUMAN RIGHTS Secretary Iain Duncan Smith
More informationAMENDMENTS TO GST, IRD, AND UNCLAIMED MONEY ACTS
APPENDIX B TO TIB VOLUME TWO, NO. 3, OCTOBER 1990 This Appendix details the amendments made by the following Acts: The Goods and Services Amendment Act 1990 The Inland Revenue Department Amendment Act
More informationState Revenue and Other Legislation Amendment (Budget Measures) Act 2014 No 37
New South Wales State Revenue and Other Legislation Amendment (Budget Measures) Act 2014 No 37 Contents Page 1 Name of Act 2 2 Commencement 2 3 Explanatory notes 2 4 Repeal of this Act 2 Schedule 1 Amendment
More informationNew Zealand Business Number Act 2016
New Zealand Business Number Act 2016 Public Act 2016 No 16 Date of assent 15 April 2016 Commencement see section 2 Contents Page 1 Title 3 2 Commencement 3 Part 1 Preliminary provisions Purposes and overview
More informationSTATEMENT OF INSOLVENCY PRACTICE 9 (SCOTLAND) REMUNERATION OF INSOLVENCY OFFICE HOLDERS
STATEMENT OF INSOLVENCY PRACTICE 9 (SCOTLAND) 1 INTRODUCTION REMUNERATION OF INSOLVENCY OFFICE HOLDERS 1.1 This Statement of Insolvency Practice (SIP) is one of a series issued to licensed insolvency practitioners
More informationTHE PARLIAMENT OF THE COMMONWEALTH OF AUSTRALIA HOUSE OF REPRESENTATIVES CORPORATIONS AMENDMENT (PHOENIXING AND OTHER MEASURES) BILL 2012
2012 THE PARLIAMENT OF THE COMMONWEALTH OF AUSTRALIA HOUSE OF REPRESENTATIVES CORPORATIONS AMENDMENT (PHOENIXING AND OTHER MEASURES) BILL 2012 EXPLANATORY MEMORANDUM (Circulated by the authority of the
More informationEnergy Innovation (Electric Vehicles and Other Matters) Amendment Bill
Energy Innovation (Electric Vehicles and Other Matters) Amendment Bill Recommendation Government Bill As reported from the Commerce Committee Commentary The Commerce Committee has examined the Energy Innovation
More information26 USC 108. NB: This unofficial compilation of the U.S. Code is current as of Jan. 4, 2010 (see
TITLE 26 - INTERNAL REVENUE CODE Subtitle A - Income Taxes CHAPTER 1 - NORMAL TAXES AND SURTAXES Subchapter B - Computation of Taxable Income PART III - ITEMS SPECIFICALLY EXCLUDED FROM GROSS INCOME 108.
More informationREPUBLIC OF SOUTH AFRICA
Please note that most Acts are published in English and another South African official language. Currently we only have capacity to publish the English versions. This means that this document will only
More informationChild Poverty (Scotland) Bill [AS PASSED]
Child Poverty (Scotland) Bill [AS PASSED] CONTENTS Section Targets relating to child poverty 1 targets 1A Interim targets 2 Relative poverty 3 Absolute poverty 4 Combined low income and material deprivation
More informationMilitary Superannuation and Benefits Act 1991
Military Superannuation and Benefits Act 1991 Act No. 135 of 1991 as amended This compilation was prepared on 10 October 2005 taking into account amendments up to Act No. 121 of 2005 [NOTE: The Military
More informationTax Laws Amendment (Implementation of the Common Reporting Standard) Bill 2016 No., 2016
0-0-0-0 The Parliament of the Commonwealth of Australia HOUSE OF REPRESENTATIVES As passed by both Houses Tax Laws Amendment (Implementation of the Common Reporting Standard) Bill 0 No., 0 A Bill for an
More informationTHE PARLIAMENT OF THE COMMONWEALTH OF AUSTRALIA HOUSE OF REPRESENTATIVES TREASURY LAWS AMENDMENT (PERSONAL INCOME TAX PLAN) BILL 2018
2016-2017-2018 THE PARLIAMENT OF THE COMMONWEALTH OF AUSTRALIA HOUSE OF REPRESENTATIVES TREASURY LAWS AMENDMENT (PERSONAL INCOME TAX PLAN) BILL 2018 EXPLANATORY MEMORANDUM (Circulated by authority of the
More informationPARLIAMENT OF VICTORIA. Caulfield Racecourse Reserve Bill 2017
PARLIAMENT OF VICTORIA Caulfield Racecourse Reserve Bill 17 Clause TABLE OF PROVISIONS Page Part 1 Preliminary 1 1 Purposes 1 2 Commencement 2 3 Definitions 2 4 Filming Approval Act 14 4 Part 2 Caulfield
More informationBERMUDA MONETARY AUTHORITY
BERMUDA MONETARY AUTHORITY CONSULTATION PAPER POLICYHOLDER PROTECTION June 2017 TABLE OF CONTENTS I. Executive Summary... 3 II. Background... 4 III. Preferential Treatment of Policyholders for the Bermuda
More informationEXPOSURE DRAFT. Customs Amendment (China-Australia Free Trade Agreement Implementation) Bill 2015
Customs Amendment (China-Australia Free Trade Agreement Implementation) Bill 2015 (Exposure draft amendments to the Bill) (1) Clause 2, page 2 (at the end of the table), add: 4. Schedule 3 The later of:
More informationPension Schemes Act (Northern Ireland) 2016 CHAPTER 1
Pension Schemes Act (Northern Ireland) 2016 CHAPTER 1 Pension Schemes Act (Northern Ireland) 2016 CHAPTER 1 CONTENTS PART 1 CATEGORIES OF PENSION SCHEME 1. Introduction 2. Defined benefits scheme 3. Shared
More informationGOVERNMENT EMPLOYEES SUPERANNUATION ACT 1987
WESTERN AUSTRALIA GOVERNMENT EMPLOYEES SUPERANNUATION ACT 1987 (No. 25 of 1987) ARRANGEMENT Section 1. Short title 2. Commencement 3. Interpretation 4. Salary PART I PRELIMINARY 5. The Board 6. Functions
More informationSupplementary Order Paper
No 52 House of Representatives Supplementary Order Paper Tuesday, 29 August 2006 Proposed amendments Hon Dr Michael Cullen, in Committee, to move as follows: Clause 4 To omit from the definition of defined
More informationThe Income Tax Act, 2000
1 INCOME TAX, 2000 c I-2.01 The Income Tax Act, 2000 being Chapter I-2.01* of the Statutes of Saskatchewan, 2000 (effective January 1, 2001) as amended the Statutes of Saskatchewan, 2000, c.49; 2001, c.p-15.2,
More informationPensions Bill EXPLANATORY NOTES
EXPLANATORY NOTES Explanatory notes to the Bill, prepared by the Department for Work and Pensions, are published separately as Bill 12 EN. EUROPEAN CONVENTION ON HUMAN RIGHTS Mr Secretary Hutton has made
More informationGovernment Sector Employment Regulation 2014
New South Wales Government Sector Employment Regulation 2014 under the Government Sector Employment Act 2013 Her Excellency the Governor, with the advice of the Executive Council, has made the following
More informationGovernance of Australian Government Superannuation Schemes Act 2011
Governance of Australian Government Superannuation Schemes Act 2011 No. 59, 2011 An Act to provide for the administration of certain Australian Government superannuation schemes by a single body, and for
More informationConsumer Credit (Victoria) Act 1995
Consumer Credit (Victoria) Act 1995 No. 41 of 1995 CONTENTS 1. Explanatory Memorandum for die Consumer Credit (Victoria) Bill. 2. Table of Provisions of the Consumer Credit (Victoria) Act 1995. 3. Consumer
More informationTaxation (Disaster Relief) Bill. Government Bill (2004 No 107-1) Explanatory Note
Taxation (Disaster Relief) Bill Government Bill (2004 No 107-1) Explanatory Note General policy statement This Bill introduces urgent changes to the Income Tax Act 1994 and to the Tax Administration Act
More informationTaxation (Annual Rates for , Employment and Investment Income, and Remedial Matters) Bill 05/07/2017
Taxation (Annual Rates for 2017-18, Employment and Investment Income, and Remedial Matters) Bill 05/07/2017 Taxation (Annual Rates for 2017-18, Employment and Investment Income, and Remedial Matters) Bill
More informationTreasury Laws Amendment (2018 Measures No. 4) Bill 2018 No., 2018
0-0-0 The Parliament of the Commonwealth of Australia HOUSE OF REPRESENTATIVES Presented and read a first time Treasury Laws Amendment (0 Measures No. ) Bill 0 No., 0 (Treasury) A Bill for an Act to amend
More informationNumber 10 of 2009 SOCIAL WELFARE AND PENSIONS ACT 2009 ARRANGEMENT OF SECTIONS PART 1. Preliminary and General PART 2
Number 10 of 2009 SOCIAL WELFARE AND PENSIONS ACT 2009 ARRANGEMENT OF SECTIONS PART 1 Preliminary and General Section 1. Short title and construction. 2. Definitions. PART 2 Amendments to Social Welfare
More informationState Sector Amendment Act (No 2) 2004
State Sector Amendment Act (No 2) 2004 Public Act 2004 No 114 Date of assent 21 December 2004 Commencement see section 2 Contents 1 Title 57B Breaches of minimum 2 Commencement standards 3 Title amended
More informationMigration and Other Legislation Amendment (Enhanced Integrity) Bill 2017 No., 2017
0- The Parliament of the Commonwealth of Australia HOUSE OF REPRESENTATIVES Presented and read a first time Migration and Other Legislation Amendment (Enhanced Integrity) Bill No., (Immigration and Border
More informationTHE PRESIDENCY. No June 2001
THE PRESIDENCY No. 550 20 June 2001 It is hereby notified that the Acting President has assented to the following Act which is hereby published for general information: - NO. 5 OF 2001: TAXATION LAWS AMENDMENT
More informationTaxation (Neutralising Base Erosion and Profit Shifting) Bill
Taxation (Neutralising Base Erosion and Profit Shifting) Government As reported from the Finance and Expenditure Committee Recommendation Commentary The Finance and Expenditure Committee has examined the
More informationState Sector Amendment Act (No 2) 2004
State Sector Amendment Act (No 2) 2004 Public Act 2004 No 114 Date of assent 21 December 2004 Commencement see section 2 Contents I 2 3 4 5 6 7 8 9 10 1\ Title Commencement Title amended Interpretation
More informationTaxation (Urgent Measures) Act 2005
Examined and certified: Clerk of the House of Representatives In the name and on behalf of Her Majesty Queen Elizabeth the Second I hereby assent to this Act this 21st day of December 2005 Governor-General.
More informationU E R N T BERMUDA 1970 : 523 TABLE OF CONTENTS
QUO FA T A F U E R N T BERMUDA HEALTH INSURANCE ACT 1970 [NB formerly the Hospital Insurance Act 1970. Retitled by 2004:22 s.19 & Sch para 1(1) effective 1 January 2006; references to "standard hospital
More informationCoastal Trading (Revitalising Australian Shipping) Amendment Bill 2017 No., 2017
2016- The Parliament of the Commonwealth of Australia HOUSE OF REPRESENTATIVES Presented and read a first time Coastal Trading (Revitalising Australian Shipping) Amendment Bill No., (Infrastructure and
More informationTax and Superannuation Laws Amendment (2016 Measures No. 1) Bill 2016 No., 2016
0-0-0- The Parliament of the Commonwealth of Australia HOUSE OF REPRESENTATIVES Presented and read a first time Tax and Superannuation Laws Amendment ( Measures No. ) Bill No., (Treasury) A Bill for an
More informationDepartment of Enterprise Trade and Innovation Guide to the Insolvency Payments Scheme
Department of Enterprise Trade and Innovation www.deti.ie Guide to the Insolvency Payments Scheme PROTECTION OF EMPLOYEES (EMPLOYERS' INSOLVENCY) ACTS 1984 TO 2004 Guide to the Insolvency Payments Scheme
More informationBANKRUPTCY AND DEBT ADVICE (SCOTLAND) BILL
BANKRUPTCY AND DEBT ADVICE (SCOTLAND) BILL EXPLANATORY NOTES (AND OTHER ACCOMPANYING DOCUMENTS) CONTENTS As required under Rule 9.3 of the Parliament s Standing Orders, the following documents are published
More informationGovernment Gazette REPUBLIC OF SOUTH AFRICA
Government Gazette REPUBLIC OF SOUTH AFRICA Vol. 506 Cape Town 8 August 2007 No. 30157 THE PRESIDENCY No. 707 8 August 2007 It is hereby notified that the President has assented to the following Act, which
More informationSocial Services Legislation Amendment (Budget Repair) Bill 2015 No., 2015
0-0-0 The Parliament of the Commonwealth of Australia HOUSE OF REPRESENTATIVES Presented and read a first time Social Services Legislation Amendment (Budget Repair) Bill 0 No., 0 (Social Services) A Bill
More informationTreasury Laws Amendment (2017 Measures No. 6) Bill 2017 No., 2017
0-0 The Parliament of the Commonwealth of Australia HOUSE OF REPRESENTATIVES Presented and read a first time Treasury Laws Amendment (0 Measures No. ) Bill 0 No., 0 (Treasury) A Bill for an Act to amend
More informationKiwiFund Bill. Explanatory note. Member s Bill
KiwiFund Bill Member s Bill Explanatory note General policy statement This Bill establishes an independent working group with the objective to set up a government-owned and operated KiwiSaver provider,
More information2ND SESSION, 41ST LEGISLATURE, ONTARIO 66 ELIZABETH II, Bill 148
2ND SESSION, 41ST LEGISLATURE, ONTARIO 66 ELIZABETH II, 2017 Bill 148 An Act to amend the Employment Standards Act, 2000 and the Labour Relations Act, 1995 and to make related amendments to other Acts
More informationTax Laws Amendment (Countering Tax Avoidance and Multinational Profit Shifting) Bill 2013 No., 2013
0-0-0-0 The Parliament of the Commonwealth of Australia HOUSE OF REPRESENTATIVES Presented and read a first time Tax Laws Amendment (Countering Tax Avoidance and Multinational Profit Shifting) Bill 0 No.,
More informationThis consolidation has been compiled by TISA. The association can accept no liability for the accuracy thereof.
Consolidated Child Trust Funds Act 2004 2004 CHAPTER 6 as amended by Finance Act 2007 (c.11) and The Transfer of Tribunal Functions and Revenue and Customs Appeals Order 2009 (SI 2009 No.56) and The Immigration
More informationTax Agent Services Act 2009
Tax Agent Services Act 2009 Act No. 13 of 2009 as amended This compilation was prepared on 21 December 2010 taking into account amendments up to Act No. 145 of 2010 The text of any of those amendments
More informationCORPORATE LAW REFORM BILL (NO. 2) 1992 [1993]
THE PARLIAMENT OF THE COMMONWEALTH OF AUSTRALIA THE SENATE (Restored to Notice Paper) Section l. 2. 3. CORPORATE LAW REFORM BILL (NO. 2) 1992 [1993] Short title Commencement Meaning of "Corporations Law"
More informationCONSTITUTION Lifeline Tasmania Inc.
CONSTITUTION Lifeline Tasmania Inc. Amended 27 th October 2014 Level 5, 31 Cambridge Road, Bellerive TASMANIA 7018. Telephone: (03) 6282 1500 Facsimile: (03) 6282 1501 Email: admin.south@lifelinetasmania.org.au
More informationDORMANT BANK ACCOUNTS (JERSEY) LAW 2017
Dormant Bank Accounts (Jersey) Law 2017 Arrangement DORMANT BANK ACCOUNTS (JERSEY) LAW 2017 Arrangement Article PART 1 3 INTERPRETATION 3 1 Interpretation... 3 2 Account defined... 4 3 Balance defined...
More informationTHE RURAL AND INDUSTRIES BANK OF WESTERN AUSTRALIA ACT 1987
WESTERN AUSTRALIA THE RURAL AND INDUSTRIES BANK OF WESTERN AUSTRALIA ACT 1987 (No. 83 of 1987) ARRANGEMENT Section 1. Short title 2. Commencement 3. Interpretation PART I PRELIMINARY PART II CONSTITUTION
More informationClick here for Explanatory Memorandum
Click here for Explanatory Memorandum AN BILLE CAIDRIMH THIONSCAIL (LEASÚ) (UIMH. 3), 2011 INDUSTRIAL RELATIONS (AMENDMENT) (NO. 3) BILL 2011 Mar a tionscnaíodh As initiated ARRANGEMENT OF SECTIONS PART
More informationAccident Compensation (Amendment) Act 1994
No. 50 of 1994 Section 1. Purposes 2. Commencement TABLE OF PROVISIONS PART 1 PRELIMINARY PART 2 AMENDMENT OF THE ACCIDENT COMPENSATION ACT 1985 3. Principal Act 4. Objects 5. Definitions 6. Remuneration
More informationNATIONAL INSURANCE CONTRIBUTIONS BILL
NATIONAL INSURANCE CONTRIBUTIONS BILL EXPLANATORY NOTES INTRODUCTION 1. These explanatory notes relate to the National Insurance Contributions Bill as introduced in the House of Commons on 12th November
More informationCHAPTER 350B OCCUPATIONAL PENSION BENEFITS
CHAPTER 350B OCCUPATIONAL PENSION BENEFITS 2003-17 This Act comes into operation on a date to be fixed by proclamation. Amended by: 2006-16 Law Revision Orders The following Law Revision Order or Orders
More informationPENSIONS ACT Act 90 of January 1952 Act 19 of 1954 Act 5 of 1976
Revised Laws of Mauritius PENSIONS ACT Act 90 of 1951 1 January 1952 Act 19 of 1954 Act 5 of 1976 ARRANGEMENT OF SECTIONS SECTION 1. Short title 2. Interpretation 3. Pension regulations 4. Pensions to
More informationChild Poverty (Scotland) Bill [AS AMENDED AT STAGE 2]
Child Poverty (Scotland) Bill [AS AMENDED AT STAGE 2] CONTENTS Section Targets relating to child poverty 1 targets 1A Interim targets 2 Relative poverty 3 Absolute poverty 4 Combined low income and material
More informationASIC Corporations (Amendment) Instrument 2017/664
ASIC Corporations (Amendment) Instrument 2017/664 I, Anthony Graham, delegate of the Australian Securities and Investments Commission, make the following legislative instrument. Date 12 September 2017
More informationEnergy and Utilities Administration Amendment (Climate Change Fund) Act 2007 No 35
New South Wales Energy and Utilities Administration Amendment (Climate Change Fund) Contents Page 1 Name of Act 2 2 Commencement 2 3 Amendment of Energy and Utilities Administration Act 1987 No 103 2 4
More informationINCOME TAX (AMENDMENT No. 34) (JERSEY) LAW 200-
Income Tax (Amendment No. 34) (Jersey) Law 200- Arrangement INCOME TAX (AMENDMENT No. 34) (JERSEY) LAW 200- Arrangement Article PART 1 3 PRELIMINARY 3 1 Interpretation... 3 PART 2 3 PENSIONS 3 2 Article
More informationTax and Superannuation Laws Amendment (2014 Measures No. 6) Bill 2014 No., 2014
0- The Parliament of the Commonwealth of Australia HOUSE OF REPRESENTATIVES Presented and read a first time Tax and Superannuation Laws Amendment ( Measures No. ) Bill No., (Treasury) A Bill for an Act
More informationGENERAL ASSEMBLY OF NORTH CAROLINA SESSION 2017 SESSION LAW HOUSE BILL 5
GENERAL ASSEMBLY OF NORTH CAROLINA SESSION 2017 SESSION LAW 2017-8 HOUSE BILL 5 AN ACT TO MAKE TECHNICAL, ADMINISTRATIVE, AND CLARIFYING CHANGES TO THE UNEMPLOYMENT INSURANCE LAWS. The General Assembly
More informationStatutes Amendment (Ethical Investment State Superannuation) Bill 2008
Legislative Council No 112 As introduced and read a first time, 2 April 2008 South Australia Statutes Amendment (Ethical Investment State Superannuation) Bill 2008 A BILL FOR An Act to amend the Parliamentary
More informationTHE FINANCE BILL, 2011
Bill No. 8-F of 2011 THE FINANCE BILL, 2011 (AS PASSED BY THE HOUSES OF PARLIAMENT LOK SABHA ON 22ND MARCH, 2011 RAJYA SABHA ON 24TH MARCH, 2011) ASSENTED TO ON 8TH APRIL, 2011 ACT NO. 8 OF 2011 Bill No.
More informationArticle 1 Section moves to amend H.F. No as follows: 1.2 Delete everything after the enacting clause and insert: 1.
1.1... moves to amend H.F. No. 2125 as follows: 1.2 Delete everything after the enacting clause and insert: 1.3 "ARTICLE 1 1.4 FEDERAL CONFORMITY 1.5 Section 1. Minnesota Statutes 2018, section 270A.03,
More informationBILL 211 ALBERTA PERSONAL INCOME TAX (SCHOOL TAX CREDIT) AMENDMENT ACT, Bill 211. Fourth Session, 25th Legislature, 53 Elizabeth II
2004 Bill 211 Fourth Session, 25th Legislature, 53 Elizabeth II THE LEGISLATIVE ASSEMBLY OF ALBERTA BILL 211 ALBERTA PERSONAL INCOME TAX (SCHOOL TAX CREDIT) AMENDMENT ACT, 2004 MR. VANDERMEER First Reading.................................................
More informationBERMUDA LIMITED PARTNERSHIP ACT : 24
QUO FA T A F U E R N T BERMUDA LIMITED PARTNERSHIP ACT 1883 1883 : 24 TABLE OF CONTENTS 1 1A 2 3 4 5 6 7 8 8A 8AA 8B 8C 8D 8E 8F 8G 8H 9 9A 9B 10 11 12 13 14 15 16 [repealed] Interpretation Constitution
More informationChapter 366. Insurance Corporation Act Certified on: / /20.
Chapter 366. Insurance Corporation Act 1977. Certified on: / /20. INDEPENDENT STATE OF PAPUA NEW GUINEA. Chapter 366. Insurance Corporation Act 1977. ARRANGEMENT OF SECTIONS. PART I PRELIMINARY. 1. Interpretation.
More informationSocial Services Legislation Amendment (Energy Assistance Payment and Pensioner Concession Card) Bill 2017 No., 2017
0-0 The Parliament of the Commonwealth of Australia HOUSE OF REPRESENTATIVES Presented and read a first time Social Services Legislation Amendment (Energy Assistance Payment and Pensioner Concession Card)
More informationPersonal Loan Contract
Personal Loan Contract Terms & Conditions Effective from 27 July 2016 It s Ours. b What s Inside Here What we lend and when 1 The annual interest rate 2 Interest charges 2 Repayments 2 Early repayment
More informationConsumer Credit (New South Wales) Code
New South Wales Consumer Credit (New South Wales) Act 1995 No 7 Contents Part 1 Preliminary Page 1 Name of Act 2 2 Commencement 2 3 Definitions 2 4 s in text 2 Part 2 Consumer Credit (New South Wales)
More informationThe Revenue and Financial Services Act
1 The Revenue and Financial Services Act being Chapter R-22.01 (formerly The Department of Revenue and Financial Services Act, D-22.02) of the Statutes of Saskatchewan, 1983 (effective May 18, 1983) as
More informationREPUBLIC OF SOUTH AFRICA
Please note that most Acts are published in English and another South African official language. Currently we only have capacity to publish the English versions. This means that this document will only
More informationPension Schemes Bill
EXPLANATORY NOTES Explanatory notes to the Bill, prepared by the Department for Work and Pensions, are published separately as Bill 12-EN. EUROPEAN CONVENTION ON HUMAN RIGHTS Secretary Iain Duncan Smith
More informationThese notes refer to the Income Tax Bill as introduced in the House of Commons on 7th December 2006 [Bill 14] INCOME TAX BILL EXPLANATORY NOTES
INCOME TAX BILL EXPLANATORY NOTES [VOLUME III] The Explanatory Notes are divided into three volumes, which correspond with the three volumes of the Bill. Volume I contains the Notes on Parts 1 to 8 (Clauses
More information