29.—F63[(1) Subject to this Part, the Minister shall make from the F64[Social Insurance Fund] a payment to an employer of such sum (in this Part referred to as a rebate) as is equivalent in amount to F65[15 per cent] of each lump sum paid by that employer under section 19.

(2) Notwithstanding subsection (1), whenever an employer fails to comply with any provision of section 17, the Minister may at his discretion reduce the amount of the rebate payable in respect of the lump sum paid under section 19 to that employer, but the amount of rebate when so reduced shall not be less than F65[5 per cent] of the lump sum.

(3) The Minister may by regulation, made with the consent of the Minister for Finance, vary a rate of rebate specified in this section.]

F66[(4) Where an employer makes a claim for a rebate on or after 1 January 2012 in respect of a lump sum payment paid to an employee under section 19 and the date of dismissal by reason of redundancy, referred to in section 19, occurs before 1 January 2012—

(a) subsection (1) shall be read as if "60 per cent" were substituted for "15 per cent", and

(b) subsection (2) shall be read as if "40 per cent" were substituted for "5 per cent".

(5) Where an employer makes a claim for a rebate on or after 1 January 2012 in respect of a lump sum payment paid to an employee under section 19 in respect of an employee to whom section 12 applies and—

(a) the date of the notice of intention to claim, referred to in section 12(1)(b), or

(b) the date of the termination of the contract of employment of the employee concerned, referred to in section 12(2),

occurs before 1 January 2012—

(i) subsection (1) shall be read as if "60 per cent" were substituted for "15 per cent", and

(ii) subsection (2) shall be read as if "40 per cent" were substituted for "15 per cent".]

F67[(6) Notwithstanding the provisions of this Act, a rebate shall not be made to an employer in respect of a lump sum payment paid to an employee under section 19—

(a) where the dismissal by reason of redundancy, referred to in section 19, or

(b) in respect of an employee to whom section 12 applies, where—

(i) the date of the notice of intention to claim, referred to in section 12(1)(b), or

(ii) the date of the termination of the contract of employment of the employee concerned, referred to in section 12(2),

occurs on or after 1 January 2013.]