On Feb. 15, ICL GVT extended wages support re volcanic activity.
ICL GVT published Law 9/2024 extending the temporary support for payment of wages due to natural disasters in Grindavikurbaer provided for by Law 87 of Nov. 30, 2023.
Document dated Feb. 15, 2024, received from ICL GVT Feb. 23, summarized Feb. 28.
Main Points
Temporary support re wages' payment for employees who can't perform their duties due to a natural disaster in Grindavikurbaer, from Nov. 11, 2023 to Jun. 30, 2024.
Natural disasters under the Act may include earthquakes, volcanic eruptions or ash fall due to volcanic eruptions or dangers and/or consequences of such an event.
Applications must be received by the Labor and Employment Agency by Sep. 30, 2024.
In case of distribution of dividends by an employer who has received support from Mar. 1, 2024 to Jun. 30, 2025, the employer must repay to the Labor Agency the support.
Effectiveness
The extended provisions entered into force immediately, on Feb. 15, 2024.
