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Changes over time for: Section 176ZA


Llinell Amser Newidiadau
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Status:
Point in time view as at 08/07/2021.
Changes to legislation:
Insolvency Act 1986, Section 176ZA is up to date with all changes known to be in force on or before 09 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.

Changes to Legislation
Changes and effects yet to be applied by the editorial team are only applicable when viewing the latest version or prospective version of legislation. They are therefore not accessible when viewing legislation as at a specific point in time. To view the ‘Changes to Legislation’ information for this provision return to the latest version view using the options provided in the ‘What Version’ box above.
[176ZA[Payment of expenses of winding up (England and Wales)]E+W+S
(1)The expenses of winding up in England and Wales, so far as the assets of the company available for payment of general creditors are insufficient to meet them, have priority over any claims to property comprised in or subject to any floating charge created by the company and shall be paid out of any such property accordingly.
(2)In subsection (1)—
(a)the reference to assets of the company available for payment of general creditors does not include any amount made available under section 176A(2)(a);
(b)the reference to claims to property comprised in or subject to a floating charge is to the claims of—
(i)the holders of debentures secured by, or holders of, the floating charge, and
(ii)any preferential creditors entitled to be paid out of that property in priority to them.
(3)Provision may be made by rules restricting the application of subsection (1), in such circumstances as may be prescribed, to expenses authorised or approved—
(a)by the holders of debentures secured by, or holders of, the floating charge and by any preferential creditors entitled to be paid in priority to them, or
(b)by the court.
(4)References in this section to the expenses of the winding up are to all expenses properly incurred in the winding up, including the remuneration of the liquidator.]
Textual Amendments
Modifications etc. (not altering text)
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