Social Welfare (Consolidation) Act, 1993
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Winding-up and bankruptcy. |
[1981, s. 120(1)] | |
16.—(1) In this section “the Act of 1889” means the Preferential Payments in Bankruptcy (Ireland) Act, 1889. | ||
[1991, s. 36(1)] | ||
(2) The assets of a limited company in a winding-up under the Companies Acts, 1963 to 1990, shall not include— | ||
(a) any sum deducted by an employer from such remuneration of an employee of his as was paid prior to the winding-up in respect of an employment contribution due and unpaid by the employer in respect of such contribution, or | ||
(b) any sum which would have been deducted from the remuneration of an employee in respect of an employment contribution for a period of employment prior to a winding-up had such remuneration been paid prior to such winding-up, | ||
and in such a winding-up a sum equal in amount to the sum so deducted and unpaid or which would have been deducted and payable, 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 . | ||
[1981, s. 120(3); 1991, s. 36(2)] | ||
(3) A sum equal in amount to any sum deducted by an employer from the remuneration of an employee of his in respect of an employment contribution due by the employer and unpaid by the employer in respect of such contribution before the date of the order of adjudication or the filing of the petition for arrangement (as the case may be) shall not form part of the property of the bankrupt or arranging debtor so as to be included among the debts which under section 4 of the Act of 1889 are in the distribution of such property to be paid in priority to all other debts, but shall, before such distribution and notwithstanding anything in the Act of 1889, be paid to the Social Insurance Fund in priority to the debts specified in section 4 of the Act of 1889. | ||
[1981, s. 120(4)] | ||
(4) Formal proof of a debt to which priority is given by this section shall not be required except where required by or under the Act of 1889 or the Companies Act, 1963 . | ||
[1981, s. 120(5)] | ||
(5) There shall be included among the debts which under section 4 of the Act of 1889 are, in the distribution of the property of a bankrupt or arranging debtor, to be paid in priority to all other debts, all employment contributions payable by the bankrupt or arranging debtor during the twelve months before the date of the order of adjudication in the case of a bankrupt or the filing of the petition for arrangement in the case of an arranging debtor, and that Act shall have effect accordingly, and formal proof of the debts to which priority is given under this subsection shall not be required except in cases where it may otherwise be provided by general orders made under that Act. |