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Regulations & Compliance · PDF

Winding Up Priority Payments: 2015 Order

The order prescribes an amount for specified priority-payment provisions of the Companies Act. Its subject is the statutory cap within that historical framework, not a general estimate of liquidation costs or creditor recovery.

Source checked · 11 October 2026 Historical document

How the statutory cap is calculated

For each employee, the order uses the lower of five months' salary for services to the company and five times the amount referenced in section 35(b) of the Employment Act. Salary may be time-based or piecework-based. If both calculations are equal, that common amount is the cap. The instrument prescribes priority limits, not an unrestricted payment entitlement.

Official source

A concise, independent Apex Gateway guide based on the official English source, not a reproduction of the complete document. Consult the original for full conditions, exceptions and subsequent updates.

Read the official PDF ↗
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