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SCHEDULES

SCHEDULE 19Preference Among Creditors in Company Winding Up

Debts to and in respect of company's employees

12(1)The remuneration to which priority is to be given under paragraph 9 shall not, in the case of any claimant, exceed £800 ;

Provided that where a claimant under paragraph 9 is a labourer in husbandry who has entered into a contract for the payment of a portion of his wages in a lump sum at the end of the year of hiring, he has priority in respect of the whole of that sum, or a part of it, as the court may decide to be due under the contract, proportionate to the time of service up to the relevant date.

(2)No increase or reduction of the money sum specified above in this paragraph affects any case where the relevant date (or, where provisions of this Schedule apply by virtue of section 196, the date referred to in subsection (4) of that section) occurred before the coming into force of the increase or reduction.