The Minister shall make from the Social Insurance Fund a rebate to an employer equivalent to 15 per cent of each lump sum paid by that employer under section 19. The Minister may at his discretion reduce the rebate payable in respect of a lump sum where the employer fails to comply with section 17, but such reduced rebate shall not be less than 5 per cent of the lump sum. The Minister may by regulation, with the consent of the Minister for Public Expenditure and Reform, vary a rate of rebate specified in this section.

Transitional provisions: where an employer claims on or after 1 January 2012 in respect of a lump sum paid under section 19 and the date of dismissal occurred before 1 January 2012, subsection (1) is to be read as if 60 per cent were substituted for 15 per cent and subsection (2) as if 40 per cent were substituted for 5 per cent. Where a claim on or after 1 January 2012 concerns an employee to whom section 12 applies and the specified notice or termination date occurred before 1 January 2012, subsection (1) is to be read as if 60 per cent were substituted for 15 per cent and subsection (2) as if 40 per cent were substituted for 15 per cent. Notwithstanding this Act, no rebate shall be made where the dismissal by reason of redundancy, or for section 12 cases the relevant notice or termination date, occurs on or after 1 January 2013.