The basic amount for a person ' s redundancy pay entitlement for his or her employment by an employer is so much of the entitlement as:
(a) is not a cost of the winding up or bankruptcy of the employer; and
(b) does not exceed the total of:
(i) 4 weeks ' pay (at the rate relevant to working out that entitlement) for each full year of the person ' s service with the employer for which the employer was required to pay redundancy pay by the governing instrument for that employment; and
(ii) if that instrument requires payment of redundancy pay for a proportion of a year (less than a full year) of the person ' s service with the employer--that proportion of 4 weeks ' pay (at the rate relevant to working out that entitlement).
Note: Sections 25 and 26 may affect the basic amount.