(redirected from Statutory holidays)
Also found in: Dictionary, Thesaurus, Medical, Legal, Encyclopedia.


A period of time during which one ordinarily would work but does not, normally to engage in some pleasure. One may spend a vacation traveling, relaxing or simply organizing one's personal life. Many companies offer paid vacation time to employees after a certain period of employment. Some jurisdictions require paid vacations.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved


A day set apart for commemorating an important event.The term is used often in contracts and leases when computing time,as when a certain number of days are allowed for an action, but if the due date falls on a weekend or holiday,it will be the next business day.Leases,in particular,limit delivery of certain services,such as heating and air conditioning,on weekends and holidays. The better practice is for the contract or lease to define the holidays meant by it.In the absence of such a definition, holidays will usually include federal holidays, when federal offices are closed, and may include state holidays when state offices are closed,if different.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
According to Lavoie, abolishing the 60-day continuous service criteria before new employees are entitled to paid statutory holidays is not only highly inequitable, but makes for a working environment that is completely out of kilter.
Clearly, this recent decision could be costly for employers like you but you should be aware that an employee can claim in the Employment Tribunal if their statutory holiday is not granted.
Under the Working Time Regulations, statutory holidays cannot be carried over from one holiday year to the next, nor can an employer make a payment to the employee in lieu of statutory holidays which have not been taken.
If the contract is 'silent' on the matter of holidays, the entitlement is four weeks, to include statutory holidays. Even if the matter is covered by a contract, it cannot be less than that.
The raising of statutory holidays to 28 days a year from last month, aimed at stopping employers counting bank holidays in annual leave entitlement, had "heavily affected" some firms, it was claimed.
As widely announced, this is to increase to a maximum of 28 days to give all workers four weeks annual leave plus eight statutory holidays. Conseguently, workers will be entitled to 28 days paid leave so that, if they are reguested to work a bank holiday, they will have to be compensated with a day off in lieu.
Amicus is fighting for eight days statutory holidays to be delivered in full by 2007.
Despite the Government's commitment to add bank holidays to the four weeks statutory holidays that everyone is entitled to, it still hasn't turned this undertaking into a reality.
One of the initial issues was how to deal with statutory holidays. Trus Joist chose to allow any employee any 11 days as statutory days instead of assigning specific days, which allows associates to book their days as they need them.
I have no problem with the Government providing statutory holidays, but who says they have to be taken at the same time?
If the other employees get statutory holidays or days in lieu, then so should you.
The claims are being put forward under the European Working Time Directive which entitles workers to three weeks' paid annual leave, including Bank Holiday and other statutory holidays, rising to four weeks from November.

Full browser ?