An employer shall pay a redundancy payment to any employee of his if the employee—
is dismissed by the employer by reason of redundancy, or
is eligible for a redundancy payment by reason of being laid off or kept on short-time.
Subsection (1) has effect subject to the following provisions of this Part (including, in particular, sections 140 to 144, 149 to 152, 155 to 161 and 164).