Section 76: Redundancy payments and approved contractual payments
314.This section sets out the circumstances in which the following three sections apply and explains the terms used in the main provisions. It is based on section 579(2) of ICTA.
315.The sections retain the label “redundancy payment” and the expression “additional payment” from the source legislation. This section also introduces the label “approved contractual payment” to describe the payments that may replace redundancy payments in some cases.