15(1)Subject to sub-paragraph (2), the provisions of sections 122 and 123 shall apply in relation to an employer who becomes insolvent (within the meaning of section 127) after 19th April 1976, and shall in such a case apply to any debts mentioned in section 122 and to any unpaid relevant contribution (within the meaning of section 123), whether falling due before or after that date.
(2)Section 122 shall have effect in relation to any case where the employer became insolvent before 1st February 1978 as if for each reference to £100 there were substituted a reference to £80.
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Textual Amendments
F1Sch. 15 paras. 6, 9, 11, 16, 19 repealed (16.11.1989) by Statute Law (Repeals) Act 1989 (c. 43), s. 1(1), Sch. 1 Pt. II