Companies (Amendment) Act, 1982

Preferential payments in a winding up.

10.—Section 285 of the Principal Act is hereby amended by—

(a) the insertion in subsection (2) after paragraph (g) of the following paragraphs—

“(h) all sums due to any employee pursuant to any scheme or arrangement for the provision of payments to the employee while he is absent from employment due to ill health;

(i) any payments due by the company pursuant to any scheme or arrangement for the provision of superannuation benefits to or in respect of employees of the company whether such payments are due in respect of the company's contribution to that scheme or under that arrangement or in respect of such contributions payable by the employees to the company under any such scheme or arrangement which have been deducted from the wages or salaries of employees.”;

(b) the substitution in subsection (3) for “£300” of “£2,500”;

(c) the insertion in subsection (6) after paragraph (b) of the following paragraph—

“or

(c) to any such clerk, servant, workman or labourer while he is absent from employment due to ill health or pursuant to any scheme or arrangement for the provision of superannuation benefit to or in respect of him;”; and

(d) the substitution in subsection (11) for “, absence from work through sickness or other” of “or absence from work through”;

(e) the insertion after subsection (12) of the following subsection—

“(13) The Minister may by order made under this subsection vary the sum of money specified in subsection (3) of this section.”.