36
CAP. 6]
Bankruptcy
[1986 Ed.
Rules.
Form 154.
(Cap. 380.)
the distribution of those assets and the amount of those expenses so recovered with a view to giving those creditors an advantage over others in consideration of the risk run by them in so doing." (Added, 47 of 1984, s. 5)
(5C) Any remuneration in respect of a period of holiday or of absence from work through sickness or other good cause shall be deemed to be wages in respect of services rendered to the bankrupt during that period. (Added, 47 of 1984, s. 5)
(6) This section shall apply in the case of a deceased person who dies insolvent as if he were a bankrupt and as if the date of his death were substituted for the date of the receiving order.
(7) In the case of partners the joint estate shall be applicable in the first instance in payment of their joint debts and the separate estate of each partner shall be applicable in the first instance in payment of his separate debts. If there is a surplus of the separate estates, it shall be dealt with as part of the joint estate. If there is a surplus of the joint estate, it shall be dealt with as part of the respective separate estates in proportion to the right and interest of each partner in the joint estate.
(8) Subject to the provisions of this Ordinance, all debts proved in the bankruptcy shall be paid pari passu.
(9) If there is any surplus after payment of the foregoing debts, it shall be applied in payment of interest from the date of the receiving order at the rate of 8 per cent per annum on all debts proved in the bankruptcy.
(10) In this section-
"accrued holiday remuneration" includes, in relation to any person, all sums which, by virtue either of his contract of employment or of any enactment (including any order made or direction given under any Ordinance), are payable on account of the remuneration which would, in the ordinary course, have become payable to him in respect of a period of holiday had his employment with the bankrupt continued until he became entitled to be allowed the holiday;
"Protection of Wages on Insolvency Fund" means the fund deemed to be established and continued in existence under section 6 of the Protection of Wages on Insolvency Ordinance; (Added, 12 of 1985, s. 29(4))
"statutory debt" means a debt the liability for which and the amount of which are determined by or under any provision in any Ordinance or imperial enactment;
"wages" includes, in relation to any person, any sum which, by virtue of his contract of employment, is payable to him as a Lunar New Year bonus, but does not include any accrued holiday remuneration. (Replaced, 47 of 1984, s. 5)
36
CAP. 6]
Bankruptcy
[1986 Ed.
Rules.
Form 154.
(Cap. 380.)
the distribution of those assets and the amount of those expenses so recovered with a view to giving those creditors an advantage over others in consideration of the risk run by them in so doing." (Added, 47 of 1984, s. 5)
(5C) Any remuneration in respect of a period of holiday or of absence from work through sickness or other good cause shall be deemed to be wages in respect of services rendered to the bankrupt during that period. (Added, 47 of 1984, s. 5)
(6) This section shall apply in the case of a deceased person who dies insolvent as if he were a bankrupt and as if the date of his death were substituted for the date of the receiving order.
(7) In the case of partners the joint estate shall be applicable in the first instance in payment of their joint debts and the separate estate of each partner shall be applicable in the first instance in payment of his separate debts. If there is a surplus of the separate estates, it shall be dealt with as part of the joint estate. If there is a surplus of the joint estate, it shall be dealt with as part of the respective separate estates in proportion to the right and interest of each partner in the joint estate.
(8) Subject to the provisions of this Ordinance, all debts proved in the bankruptcy shall be paid pari passu.
(9) If there is any surplus after payment of the foregoing debts, it shall be applied in payment of interest from the date of the receiving order at the rate of 8 per cent per annum on all debts proved in the bankruptcy.
(10) In this section-
"accrued holiday remuneration" includes, in relation to any person, all sums which, by virtue either of his contract of employment or of any enactment (including any order made or direction given under any Ordinance), are payable on account of the re- muneration which would, in the ordinary course, have become payable to him in respect of a period of holiday had his employ- ment with the bankrupt continued until he became entitled to be allowed the holiday;
"Protection of Wages on Insolvency Fund" means the fund deemed to be established and continued in existence under section 6 of the Protection of Wages on Insolvency Ordinance; (Added, 12 of 1985, s. 29(4))
"statutory debt" means a debt the liability for which and the amount of which are determined by or under any provision in any Ordinance or imperial enactment;
"wages" includes, in relation to any person, any sum which, by virtue of his contract of employment, is payable to him as a Lunar New Year bonus, but does not include any accrued holiday remuneration. (Replaced, 47 of 1984, s. 5)
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