Social Welfare Act, 1990
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Priority debts to Social Insurance Fund in a company winding-up. |
45.—(1) Section 120 of the Principal Act is hereby amended by the substitution for subsection (2) of the following subsection: | |
“(2) Any sum deducted or to be deducted from such remuneration of an employee as was paid or payable prior to a winding-up under the Companies Acts, 1963 to 1986, in respect of an employment contribution due and unpaid shall not form part of the assets of a limited company in a winding-up under the Companies Acts, 1963 to 1986, and in such a winding-up a sum equal in amount to the sum so deducted or to be deducted, shall, notwithstanding anything in those Acts, be paid to the Social Insurance Fund in priority to the debts specified in section 285 (2) of the Companies Act, 1963 .”. | ||
(2) For the purposes of section 285 (2) (e) of the Companies Act, 1963 — | ||
(a) the amount referred to in that subsection shall be deemed to include any amount— | ||
(i) which, apart from the provisions of Article 22 of the Regulations of 1988 (as amended by the Social Welfare (Collection of Contributions by the Collector-General) Regulations, 1989 ( S.I. No. 72 of 1989 )), or Article 22 of the Regulations of 1989, would otherwise have been an amount due at the relevant date in respect of sums which an employer is liable under Chapter 1 of Part II of the Principal Act or Chapter 1A (inserted by section 11 of the Act of 1988) of Part II of that Act, and any regulation thereunder (other than the said Article 22 of the Regulations of 1988 or Article 22 of the Regulations of 1989) to deduct from reckonable earnings or reckonable emoluments, to which the said Chapters 1 and 1A apply, paid by him during the period of 12 months next before the relevant date, and | ||
(ii) with the addition of any interest payable under Article 23 of the Regulations of 1988 or Article 13 of the Regulations of 1989, | ||
and | ||
(b) the relevant date shall, notwithstanding the provisions of subsection (1) of section 285 of the Companies Act, 1963 , be deemed to be the date which is the ninth day after the end of the income tax month in which the relevant date (within the meaning of the said subsection (1)) occurred. | ||
(3) In this section— | ||
“the Regulations of 1988” means the Social Welfare (Miscellaneous Provisions for Self-Employed Contributors) Regulations, 1988 ( S.I. No. 62 of 1988 ); | ||
“the Regulations of 1989” means the Social Welfare (Collection of Employment Contributions by the Collector-General) Regulations, 1989 ( S.I. No. 298 of 1989 ). |