Employment Protection Act 1975

40 Financing of Maternity Pay Fund

(1) In the [1975 c. 14.] Social Security Act 1975 for the words "appropriate allocation to the Redundancy Fund", wherever they occur, substitute the words " appropriate employment protection allocation ".

(2) In section 1(1) of that Act (outline of contributory system), after the words " Redundancy Fund " insert the words " and the Maternity Pay Fund ".

(3) In section 4(6)(b) of that Act (amount of secondary Class 1 contribution), for the words " 8-5 per cent." substitute the words " 8-55 per cent. ".

(4) In section 122(4) of that Act (power to alter contributions), after the words " the Redundancy Fund " insert the words " or the Maternity Pay Fund ", and for the words " that Fund" substitute the words " either or both those Funds ".

(5) In section 134 of that Act (destination of contributions etc.)—

(a) in subsection (4), for the words " 0.2 per cent." substitute the words " 0.25 per cent. "; and

(b) in subsection (5)(b), for the words " that Fund " substitute the words " the Redundancy Fund and the Maternity Pay Fund in such shares as the Secretary of State may, with the consent of the Treasury, determine. "

(6) In Schedule 20 to that Act (glossary of expressions), at the appropriate place in alphabetical order insert in the first column the entry " Appropriate employment protection allocation " and against it in the second column insert the entry " See section 134(4). ".