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Employment (Amendment) Act 1997

Commencement: 1 January 1997

REPUBLIC OF VANUATU

THE EMPLOYMENT (AMENDMENT) ACT
NO. 3 OF 1997

ARRANGEMENT OF SECTIONS

1. Amendment of Section 57 of the Employment Act [CAP 160].
2. Commencement.

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Assent: 20/06/97
Commencement: 01/01/97

An Act to amend the Employment Act [CAP. 160].

BE IT ENACTED by the President and Parliament as follows:-

AMENDMENT OF SECTION 57 OF THE EMPLOYMENT ACT. [CAP.160].

1. Section 57 of the Employment Act [CAP. 160] is amended by repealing the whole section and substituting the following new section:

"DEDUCTIONS FROM SEVERANCE ALLOWANCES

57.(1) An Employer may deduct from any severance allowance payable -

(a) in the case of an employee who is retired on or after attaining the age of 55 year:

(i) half the amount of any gratuity due at the age of 55 years from any pension fund;

(ii) any gratuity granted at the age of 55 years by the employer;

(iii) 5 time the amount of any annual pension granted at the age of 55 years from any pension fund mentioned in paragraph (a)(i) above;

(iv) 10 times the amount of any annual pension granted at the age of 55 years by the employer;

(b) in any other case -

(i) any gratuity granted by the employer;

(ii) any contribution made to any pension fund mentioned in paragraph (a)(i) above by the employer."

(2) For the purpose of this section "pension" fund means any provident or pension fund or similar scheme (other than the Vanuatu National Provident Fund established by and under the Vanuatu National Fund Act [CAP.189], as amended from time to time) which fund is specifically approved by the Commissioner."

COMMENCEMENT OF THIS ACT

2. This Act shall be deemed to have come into force on the first day of January 1997.

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