Insolvency (Priorities) Order 1988
Insolvency (Priorities) Order 1988
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Insolvency (Priorities) Order 1988
Reprint
as at 3 December 2007
Insolvency (Priorities) Order 1988
(SR 1988/199)
Insolvency (Priorities) Order 1988: revoked, on 3 December 2007, by section 443(2) of the Insolvency Act 2006 (2006 No 55).
Note
Changes authorised by section 17C of the Acts and Regulations Publication Act 1989 have been made in this eprint.
A general outline of these changes is set out in the notes at the end of this eprint, together with other explanatory material about this eprint.
This order is administered in the Department of Justice.
PURSUANT to section 104(1)(d) of the Insolvency Act 1967, His Excellency the Governor-General, acting by and with the advice and consent of the Executive Council, hereby makes the following order.
1 Title and commencement
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(1) This order may be cited as the Insolvency (Priorities) Order 1988.
(2) This order shall come into force on the 10th day of October 1988.
2 Priority of payments due to employees
The amount of $6,000 is hereby prescribed for the purposes of the proviso to subparagraph (i) of section 104(1)(d) of the Insolvency Act 1967 as the maximum sum to which priority is to be given, in the case of any one claimant, under that subparagraph.
MARIE SHROFF,
Clerk of the Executive Council.
Explanatory note
This note is not part of the order, but is intended to indicate its general effect.
Section 104(1)(d)(i) of the Insolvency Act 1967 specifies the priority to be given to payment of certain debts owing in respect of employees' wages and other specified matters.
That section currently provides that the total sum to which priority is to be given in respect of those debts shall not, in the case of any one claimant, exceed $1,500.
This order, which comes into force on 10 October 1988, increases that sum to $6,000.
The increased sum will not apply, by reason of section 2(3) of the Insolvency Amendment Act 1978, in respect of any case where a person has been adjudged bankrupt, or there has been an order or election to administer an estate under Part 17 of the Insolvency Act 1967, before 10 October 1988.
Issued under the authority of the Regulations Act 1936.
Date of notification in Gazette: 8 September 1988.
Contents
1General
2About this eprint
3List of amendments incorporated in this eprint (most recent first)
Notes
1 General
This is an eprint of the Insolvency (Priorities) Order 1988. It incorporates all the amendments to the Insolvency (Priorities) Order 1988 as at 3 December 2007. The list of amendments at the end of these notes specifies all the amendments incorporated into this eprint since 3 September 2007. Relevant provisions of any amending enactments that contain transitional, savings, or application provisions are also included, after the Principal enactment, in chronological order.
2 About this eprint
This eprint has not been officialised. For more information about officialisation, please see "Making online legislation official" under "Status of legislation on this site" in the About section of this website.
3 List of amendments incorporated in this eprint (most recent first)
Insolvency Act 2006 (2006 No 55): section 443(2)
"Related Legislation
"Related Legislation
"Related Legislation
Versions
Insolvency (Priorities) Order 1988
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