Companies Act, 1990

Preferential payments in a winding up.

134.—Section 285 of the Principal Act is hereby amended by the insertion of the following subsection—

“(14) The priority conferred by subsection (2) shall apply only to those debts which, within the period of six months after advertisement by the liquidator for claims in at least two daily newspapers circulating in the district where the registered office of the company is situated, either—

(a) have been notified to him; or

(b) have become known to him.”.