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SCHEDULE 8 PREFERENTIAL DEBTS

(1) So much of any amount which is —
(a) owed by the Company to a person who is or has been an employee of the Company; and
(b) payable by way of non-discretionary salary (including agreed holiday remuneration) or contributions to an occupational pension scheme in respect of the whole or any part of the period of three (3) months before the relevant date.
(2) "Relevant date" for these purposes means —
(a) in relation to a Company which is being wound up by the Court, the date of the appointment of a provisional liquidator or, if no such appointment is made, the date of the winding-up order;
(b) in relation to a Company which is being wound up voluntarily, the date of the resolution for the winding-up of the Company; or
(c) in relation to a Company which is in administration, the date on which it entered administration.