Part VII Insolvency of Employers
Chapter II Payment by the Department of Unpaid Scheme Contributions
C1119 Interpretation of Chapter II.
1
For the purposes of this Chapter, an employer shall be taken to be insolvent if, but only if, in Northern Ireland—
a
he has been adjudged bankrupt or has made a composition or arrangement with his creditors;
b
he has died and his estate falls to be administered in accordance with an order under Article 365 of the Insolvency (Northern Ireland) Order 1989; or
c
where the employer is a company—
i
ii
a receiver or manager of its undertaking is duly appointed,
iii
possession is taken, by or on behalf of the holders of any debentures secured by a floating charge, of any property of the company comprised in or subject to the charge, or
iv
a voluntary arrangement proposed for the purpose of Part II of the M1Insolvency (Northern Ireland) Order 1989 is approved under that Part.
2
In this Chapter—
“contract of employment”, “employee” and “employer” and other expressions which are defined in the F1Employment Rights (Northern Ireland) Order 1996 have the same meaning as in that Order;
“holiday pay” means—
- a
pay in respect of a holiday actually taken; or
- b
any accrued holiday pay which under the employee’s contract of employment would in the ordinary course have become payable to him in respect of the period of a holiday if his employment with the employer had continued until he became entitled to a holiday;
- a
F2...
F33
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4
Any reference in this Chapter to the resources of a scheme is a reference to the funds out of which the benefits provided by the scheme are from time to time payable.