Aligning Maximum Payable Amounts in Contract of Employment for Winding-up across Legislation

Debated in Parliament on 12 Sep 2022.

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Mr Patrick Tay Teck Guan asked if the maximum amount payable under a contract of employment in a winding-up could be raised from $7,500 to $13,000 to align with another legislation.
Lawrence Wong responded that the Government recognizes the importance of protecting employee interests during winding-up and will review the proposed adjustment.
The debate focused on harmonizing maximum payable amounts across different legislative frameworks for employee protection.
The Minister acknowledged the need to ensure consistency in statutory protections for employees in insolvency scenarios.

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Patrick Tay Teck Guan

Mr Patrick Tay Teck Guan asked the Deputy Prime Minister and Minister for Finance whether the Ministry will consider raising the maximum amount payable under any contract of employment in a winding-up as stated in section 76(2) of the Limited Liability Partnerships Act 2005 from $7,500 to $13,000 so as to align with the maximum amount stated in section 2(1)(b) of the Insolvency, Restructuring and Dissolution (Maximum Amount Payable in Priority) Order 2020.

Lawrence Wong

The Government recognises the importance of safeguarding the interests of employees in a winding-up. We will review the maximum amount payable to employees of limited liability partnerships in the event of a winding-up.

Summary written by AI (learn more)

Mr Patrick Tay Teck Guan asked if the maximum amount payable under a contract of employment in a winding-up could be raised from $7,500 to $13,000 to align with another legislation.
Lawrence Wong responded that the Government recognizes the importance of protecting employee interests during winding-up and will review the proposed adjustment.
The debate focused on harmonizing maximum payable amounts across different legislative frameworks for employee protection.
The Minister acknowledged the need to ensure consistency in statutory protections for employees in insolvency scenarios.

Questions identified by AI (learn more)

Aligning Maximum Payable Amounts in Contract of Employment for Winding-up across Legislation | PAPERCUTS

Aligning Maximum Payable Amounts in Contract of Employment for Winding-up across Legislation

Debated in Parliament on 12 Sep 2022.

Summary written by AI (learn more)

Mr Patrick Tay Teck Guan asked if the maximum amount payable under a contract of employment in a winding-up could be raised from $7,500 to $13,000 to align with another legislation.
Lawrence Wong responded that the Government recognizes the importance of protecting employee interests during winding-up and will review the proposed adjustment.
The debate focused on harmonizing maximum payable amounts across different legislative frameworks for employee protection.
The Minister acknowledged the need to ensure consistency in statutory protections for employees in insolvency scenarios.

Questions identified by AI (learn more)

Full Transcript

Patrick Tay Teck Guan

Lawrence Wong

Summary written by AI (learn more)

Mr Patrick Tay Teck Guan asked if the maximum amount payable under a contract of employment in a winding-up could be raised from $7,500 to $13,000 to align with another legislation.
Lawrence Wong responded that the Government recognizes the importance of protecting employee interests during winding-up and will review the proposed adjustment.
The debate focused on harmonizing maximum payable amounts across different legislative frameworks for employee protection.
The Minister acknowledged the need to ensure consistency in statutory protections for employees in insolvency scenarios.

Questions identified by AI (learn more)

Aligning Maximum Payable Amounts in Contract of Employment for Winding-up across Legislation

Summary

Questions Identified

Full Transcript

Patrick Tay Teck Guan

Lawrence Wong

Summary

Questions Identified

Aligning Maximum Payable Amounts in Contract of Employment for Winding-up across Legislation

Summary

Questions Identified

Full Transcript

Patrick Tay Teck Guan

Lawrence Wong

Summary

Questions Identified