Social Welfare (No. 2) Act, 1976
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Winding up and bankruptcy. |
7.—(1) In this section— | |
“the Act of 1889” means the Preferential Payments in Bankruptcy (Ireland) Act, 1889; | ||
“employment contribution” has the meaning assigned to it by the Act of 1952. | ||
(2) Any sum— | ||
(a) deducted by an employer from the remuneration of an employee of his in respect of an employment contribution due by the employer, or | ||
(b) deducted by an employer from the remuneration of an employee of his and so deducted under section 20 of the Act of 1942 in respect of a weekly contribution under the Act of 1942, and | ||
(c) unpaid by the employer in respect of either such type of contribution— | ||
shall not form part of the assets of a limited company in a winding up under the Companies Act, 1963 , and in such a winding up a sum equal in amount to the sum so deducted shall, notwithstanding anything in that Act, be paid to the Social Insurance Fund or to the Supplementary Unemployment Fund (as the case may be) in priority to the debts specified in section 285 (2) of that Act. | ||
(3) Any sum— | ||
(a) deducted by an employer from the remuneration of an employee of his in respect of an employment contribution due by the employer, or | ||
(b) deducted by an employer from the remuneration of an employee of his and so deducted under section 20 of the Act of 1942 in respect of a weekly contribution under the Act of 1942, and | ||
(c) unpaid by the employer in respect of either such type of 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 or the Supplementary Unemployment Fund (as the case may be) in priority to the debts specified in section 4 of the Act of 1889. | ||
(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 . |