Protection of Employees (Employers' Insolvency) Act, 1984
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Insolvency for the purposes of Act. |
4.—(1) An employer who is for the purposes of this Act insolvent shall for such purposes be regarded as having become insolvent on— | |
(a) where the employer has been adjudicated bankrupt, the date of such adjudication, | ||
(b) where the employer petitioned for arrangement, the date on which the petition is filed, | ||
(c) where the employer executed a deed referred to in section 1 (3) (a) of this Act, the date of such execution, | ||
(d) where the employer has died, the date of his death, | ||
(e) where the employer is a company within the meaning of section 2 of the Companies Act, 1963 — | ||
(i) in case either a receiver is appointed on behalf of the holder of any debenture secured by a floating charge, or possession is taken by or on behalf of such a debenture holder of any property of the company comprised in or subject to the charge, the date of the appointment of the receiver or possession being taken as aforesaid, as may be appropriate, or | ||
(ii) in any other case the date which, in relation to the company, is the relevant date within the meaning of section 285 of the Companies Act, 1963 , and | ||
(f) where the employer is an employer of a class or description specified in regulations under subsection (3) of this section which are for the time being in force, the day on which under the regulations such an employer is for such purposes to be regarded as having become insolvent. | ||
(2) The Minister may by regulations specify the circumstances in which employers who are of a class or description specified in the regulations are, for the purposes of this Act, to be taken to be, or to have become, insolvent. | ||
(3) The Minister may by regulations specify the day on which any employer who is of a class or description specified in the regulations and who is also an employer who for the purposes of this Act is insolvent, is to be regarded as having become so insolvent. |