COMPANIES ACT, 1929

7¢°

(1) In the case of a clerk or servant of such a company, the
priority with respect to wages and salary given by this Act
shall be given to the extent of three months only, instead of
four months, and shall not extend to the principal agent,
manager, purser or secretary;
(2) All wages in relation to the mine of a miner, artizan, or
labourer employed in or about the mine, including all
earnings by a miner arising from any description of piece or
other work, or as a tributer or otherwise, but not exceeding
an amount equal to three months wages, shall be included
amongst the payments which are, under this Act, to be
made in priority to other debts:

(3) The following debts, that is to say: —

(a) wages of any miner, artizan, or labourer, unpaid at
the commencement of the winding up; and

(b) all such amounts due in respect of any compensation
or liability for compensation under the Workmen's
Compensation Act, 1925, payable to a miner or the
dependents of a miner as are given priority by paragraph
(d) of subsection (1) of section two hundred and sixty-four
of this Act; and

(¢) all such amounts due in respect of contributions
payable in respect of a miner under the enactments
mentioned in paragraph (¢) of the said subsection (1) as
are given priority by that paragraph;
shall be paid by the liquidator forthwith in priority to all
costs, except (in the case of a winding up by the court)
such costs of and incidental to the making of the winding
up order as in the opinion of the court have been properly
incurred, and to all claims by mortgagees, execution
creditors, or any other persons, except the claims of clerks
and servants in respect of their wages or salary.
(4) Subject as aforesaid, the court may, by order, charge the
whole or any part of the assets of the company, in priority
to all claims and to all existing mortgages or charges
thereon, with the payment of a sum sufficient to discharge
the debts to be paid in priority under the last foregoing
paragraph, together with interest thereon at a rate not
exceeding five per cent. per annum, and this charge may
be made in favour of any person who is willing to advance
the requisite amount or any part thereof, and as soon as the
said sum has been so advanced, the said debts shall be
paid without delay so far as the amount advanced extends,
and in such order of payment as the court directs.
(5) The provision giving a right of priority to a person who
has advanced money for the making of payments on
account of wages and salaries shall have effect subject
to the modifications contained in this section.