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SECRETARIAL PRACTICE
and vested in the workman, all amounts due in

respect of any compensation or liability for com-

pensation under the said Act, accrued before the

relevant date.

Unless the company is being wound up voluntarily

merely for the purposes of reconstruction or of

amalgamation with another company, all amounts

due in respect of contributions payable during

the twelve months next before the relevant date

by the company as the employer of any persons

under either—

(i) the National Health Insurance Acts, 1924 to

1928; or

(ii) the Widows’, Orphans’ and Old Age Contri-
butory Pensions Act, 1925; or

(iii) the Unemployment Insurance Acts, 1920 to
19209.

z) Where any compensation under the Workmen’s Com-
pensation Act, 1925, is a weekly payment, the amount
due in respect thereof shall, for the purposes of para-
graph (4) of sub-s. (1) of this section, be taken to be the
amount of the lump sum for which the weekly payment
could, if redeemable, be redeemed if the employer made
an application for that purpose under the said Act.
Where any payment on account of wages or salary
has been made to any clerk, servant, workman or
labourer in the employment of a company out of
money advanced by some person for that purpose,
that person shall in a winding up have a right of
priority in respect of the money so advanced and
paid up to the amount by which the sum in respect of
which that clerk, servant, workman or labourer would
have been entitled to priority in the winding up has been
diminished by reason of the payment having been made.

(4) The foregoing debts shall—

(a) Rank equally among themselves and be paid in
full, unless the assets are insufficient to meet
them, in which case they shall abate in equal
proportions; and
In the case of a company registered in England
so far as the assets of the company available for
payment of general creditors are insufficient to
meet them, have priority over the claims of
holders of debentures under anv floating charge