Social Welfare Act, 1991
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Employment contributions in a winding-up. |
36.—(1) Section 120 of the Principal Act is hereby amended by the substitution for subsection (2) (inserted by section 45 of the Act of 1990) of the following subsection: | |
“(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 .”. | ||
(2) Section 120(3) of the Principal Act is hereby amended by the substitution of “A sum equal in amount to any sum” for “Any sum”. |