(Cap. 37))
compensation is due or where the company is wound up voluntarily merely for the purposes of reconstruc- Goo or of amalgamation with another company; (cc) any wages In lieu of notice payable to an employce under the Employment Ordinance, not exceeding in respect of each employee one month's wages or $2,000 whichever is the lesser,"
and T
(b) In subsection (LA) by inserting after "1970," the following
"but before the 1st April 1977,3% and
IL
(e) by inserting after aubsection (IA) the following new subsection- "(18) Where the relevant date is on or after the 1st April 1977, the sum of 38,000 shall be deemed to be substituted in each lease for the sums of 53,000 referred to in paragraphs (b) and (c) respectively, and for the sum of 56,000 referred to in paragraph (cz), of subsection (1)", and
1
(d) in subsections (3) and (34) by deleting "and (ca)" and substituting
the following-
*. (co), (cb) and (cc)".
Passed by the Hong Kong Legislative CounciȚ February, 1977.
day of
HONG KONG
No. 5 of 1977
I assent.
Governor.
3rd February, 1977.
As Ordinance to amend the Bankruptcy Ordinance.
[4th February, 1977)
Enacted by the Governor of Hong Kong, with the advice and can
sent of the Legislative Council thereof.
1. This Ordinance may be cited as the Bankruptcy (Amendment) short due Ordinance 1977.
2.
Section 18 of the principal Ordinamon is amended-
Aasendabetit of section 38,
(a) in subsection (1) by inserting after paragraph (ca) the following (Cwo. 61
new paragraphs-
(C80. 2013
"(eb) any amount due in respect of compensation or liability for compensation under the Workmen's Compensation Ordinance accrued before the date of the receiving order and, where the compensation is a periodical payment, the amount due in respect thereof shall be laken to be the amount of the lump sum for which the periodical payment could, if redeemable, be rQ- deemed on an application being made for that purpose under the Workmen's Compensation Ordinance, but this paragraph shall not apply to any amount due in respect of compensation or liability for compensa- tion where the bankrupt has entered into a contract