NATLEX
Database of national labour, social security and related human rights legislation
United Kingdom (3,017) > Wages (66)
| Name: | Insolvency Act 1986 (Chapter 45) |
| Country: | United Kingdom |
| Subject(s): | General provisions; Wages; Hours of work, weekly rest and paid leave; Social security (general standards) |
| Type of legislation: | Law, Act |
| Adopted on: | 1986-07-25 |
| Entry into force: | |
| Published on: | Printed separately, 321 p. |
| ISN: | GBR-1986-L-2357 |
| Link: | https://www.ilo.org/dyn/natlex/natlex4.detail?p_isn=2357&p_lang=en |
| Bibliography: | Printed separately, 321 p. |
| Abstract/Citation: | Consolidates the enactments relating to insolvency and winding up of companies (including those that are not insolvent, and unregistered companies) and insolvency and bankruptcy of individuals. It contains provisions regarding, inter alia, the power to make over assets to employees and preferential debts. Schedule 6 appended to the Act lists the categories of preferential debts. Social security contributions are category 3; contributions to occupational pension schemes make up category 4; and remuneration, etc., of employees constitutes category 5. The Schedule sections entitled "Interpretation for category 5" specify that remuneration includes: a guarantee payment under section 12(1) and the Employment Protection (Consolidation) Act 1978; payments for time off for trade union duties, ante-natal care or looking for work under that Act; redundancy compensation awarded under section 101 of the Employment Protection Act 1975; remuneration payable to a person on sick leave or holiday leave; and accrued holiday remuneration. |