Part 15Amendments to other Acts
Amendment to Companies Act 1955
245Preferential payments
Amendment(s) incorporated in the Act(s).
Child Support Act 1991
Amendments to other Acts - Amendment to Companies Act 1955
245: Preferential payments
"The law changed how some people get paid first when a company runs out of money"
The Child Support Act 1991 made a change to the Companies Act 1955. This change was about preferential payments. Preferential payments are special payments that some people or groups might get before others when a company doesn't have enough money to pay everyone. The exact details of what was changed aren't given here, but it's important to know that this law update happened.
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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM257705.
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