On liquidation the company's assets are sold off and the proceeds from the sale redistributed according to the creditor priorities:
1st: Liquidator / trustee fee's
2nd: Taxes
3rd: Secured debt (including unpaid interest): fixed charge
4th: Secured debt (including unpaid interest): floating charge
5th: Unsecured creditors
6th: Preference shareholders (including any unpaid dividends)
7th: Ordinary shareholders.
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http://www.tannerdewitt.com/media/publications/insolvency-law.php
Insolvency / Liquidation / Winding up
- Section 265 of the Companies Ordinance sets out a list of preferential
payments and the priority in which those amounts will be paid from the company's
unsecured assets. Broadly, the ranking is:
- Fees and expenses properly incurred in preserving, realizing or getting in the assets of the company;
- Payment of certain amounts owing to or relating to employees including unpaid wages, salaries, termination payments, employees compensation etc (this will often not amount to the total sum due to employees as the legislation provides for certain caps in this regard); and
- Statutory debts due from the company to the government, which become due and payable within 12 months next before the date of the winding-up order, e.g. taxes and duties.
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http://clic.org.hk/hk/legis/en/ord/32/s265.html
http://www.legislation.gov.hk/eng/home.htm
http://www.legislation.gov.hk/blis_pdf.nsf/6799165D2FEE3FA94825755E0033E532/BFBC0BDE18CA0665482575EE0030D882?OpenDocument&bt=0
http://www.legislation.gov.hk/blis_pdf.nsf/6799165D2FEE3FA94825755E0033E532/BFBC0BDE18CA0665482575EE0030D882/$FILE/CAP_32_e_b5.pdf
Cap 32 Companies Ordinance - Section 265
Preferential payments
Version Date: 01/01/2011
- (a) (Repealed 6 of 1984 s. 181)
(b) any-
- (i) payment from the Protection of Wages on
Insolvency Fund under section 18 of the Protection of Wages on Insolvency
Ordinance (Cap 380) to any clerk or servant in respect of wages or salary or
both in respect of services rendered to the company if such payment was made
during a period of 4 months before the commencement of the winding up; and
(Amended 48 of 1987 s. 8)
(ii) wages and salary (including commission provided that the amount thereof is fixed or ascertainable at the relevant date) of any clerk or servant in respect of services rendered to the company during the relevant period not exceeding, together with any payment under sub-paragraph (i), $3000; (Replaced 12 of 1985 s. 29)
- (i) payment from the Protection of Wages on
Insolvency Fund under section 18 of the Protection of Wages on Insolvency
Ordinance (Cap 380) to any labourer or workman in respect of wages, whether
payable for time or for piece work, in respect of services rendered to the
company if such payment was made during a period of 4 months before the
commencement of the winding up; and (Amended 48 of 1987 s. 8)
(ii) wages of any labourer or workman, whether payable for time or for piece work, in respect of services rendered to the company during the relevant period not exceeding, together with any payment under sub-paragraph (i), $3000; (Replaced 12 of 1985 s. 29)
(caa) any long service payment payable to an employee under the Employment Ordinance (Cap 57), not exceeding in respect of each employee $8000; (Added 77 of 1985 s. 2)
(cb) any amount due in respect of compensation or liability for compensation under the Employees' Compensation Ordinance (Cap 282) accrued before the relevant date and, where the compensation is a periodical payment, the amount due in respect thereof shall be taken to be the amount of the lump sum for which the periodical payment could, if redeemable, be redeemed on an application being made for that purpose under the Employees' Compensation Ordinance (Cap 282), but this paragraph shall not apply to any amount due in respect of compensation or liability for compensation where the company has entered into a contract with a person carrying on accident insurance business in Hong Kong in respect of its liability under the Employees' Compensation Ordinance (Cap 282) for personal injury by accident to the employee to whom the compensation or liability for compensation is due or where the company is wound up voluntarily merely for the purposes of reconstruction or of amalgamation with another company; (Added 4 of 1977 s. 2. Amended 6 of 1984 s. 259)
(cc) any wages in lieu of notice payable to an employee under the Employment Ordinance (Cap 57), not exceeding in respect of each employee one month's wages or $2000 whichever is the lesser; (Added 4 of 1977 s. 2)
(cd) all accrued holiday remuneration becoming payable to any clerk, servant, workman or labourer (or in the case of his death to any other person in his right) on the termination of his employment before or by the effect of the winding-up order or resolution; (Added 6 of 1984 s. 181)
(ce) any payment from the Employees Compensation Assistance Fund under Part IV of the Employees Compensation Assistance Ordinance (Cap 365) representing an amount due by the company in respect of compensation or liability for compensation under the Employees' Compensation Ordinance (Cap 282) accrued before the relevant date; (Added 54 of 1991 s. 47)
(cf) any amount of unpaid contribution or any amount deemed to be unpaid contribution calculated in accordance with rules made under section 73(1)(n) of the Occupational Retirement Schemes Ordinance (Cap 426) which should have been paid by the company being wound up in accordance with the terms of an occupational retirement scheme within the meaning of that Ordinance before the commencement of the winding up:
Provided that where such amount exceeds $50000 in respect of an employee, 50% of such part of the amount that exceeds $50000 shall not be paid in priority to all other debts under this subsection; (Added 88 of 1992 s. 84)
(cg) (without prejudice to any right or liability under a trust) any amount of salaries deducted by the company being wound up from its employees' salaries for the purpose of making contributions in respect of such employees to the funds of an occupational retirement scheme within the meaning of the Occupational Retirement Schemes Ordinance (Cap 426) which have not been paid into such funds; (Added 88 of 1992 s. 84)
(ch) any amount of unpaid contribution under, or any amount of unpaid contribution calculated in accordance with, the Mandatory Provident Fund Schemes Ordinance (Cap 485) which should have been paid by the company being wound up in accordance with the provisions of that Ordinance before the commencement of the winding up:
Provided that where such amount exceeds $50000 in respect of an employee, 50% of such part of the amount that exceeds $50000 shall not be paid in priority to all other debts under this subsection; (Added 80 of 1995 s. 49)
(ci) any amount deducted by the company being wound up from the relevant income of its relevant employees for the purpose of making contributions in respect of such relevant employees to the approved trustee of a registered scheme within the meaning of the Mandatory Provident Fund Schemes Ordinance (Cap 485) which have not been paid to that approved trustee; (Added 80 of 1995 s. 49)
(cj) any sum and interest thereon payable to the Mandatory Provident Fund Schemes Authority under section 17(7) of the Mandatory Provident Fund Schemes Ordinance (Cap 485); (Added 80 of 1995 s. 49)
(d) all statutory debts due from the company to the Government at the relevant date and which became due and payable within 12 months next before that date. (Replaced 6 of 1984 s. 181. Amended 23 of 1999 s. 3)
(da) (Repealed 30 of 1999 s. 18)++
(db) where the company being wound up is or was a bank and, at the commencement of the winding up, held deposits, to each depositor- (Amended 7 of 2004 s. 55)
- (i) in respect of the deposits, or portion
thereof, that the depositor holds in his own right, the aggregate amount so held
on deposit, up to the limit on the total amount of compensation to which a
depositor is entitled as prescribed in section 27(1) of the Deposit Protection
Scheme Ordinance (Cap 581), regardless of the number of
deposits;
(ii) in respect of the deposits, or portion thereof, that the depositor holds as a bare trustee for each of the beneficiaries, the aggregate amount so held on deposit, up to, subject to subsection (5J), the limit on the total amount of compensation to which a depositor is entitled as prescribed in section 27(1) of the Deposit Protection Scheme Ordinance (Cap 581), regardless of the number of deposits so held for the beneficiary;
(iii) in respect of the deposits, or portion thereof, that the depositor holds in a client account for each of the clients, the aggregate amount so held on deposit, up to, subject to subsection (5J), the limit on the total amount of compensation to which a depositor is entitled as prescribed in section 27(1) of the Deposit Protection Scheme Ordinance (Cap 581), regardless of the number of deposits so held for the client; and
(iv) in respect of the deposits, or portion thereof, that the depositor holds as a trustee (but not a bare trustee) under each of the trusts, the aggregate amount so held on deposit, up to the limit on the total amount of compensation to which a depositor is entitled as prescribed in section 27(2) of the Deposit Protection Scheme Ordinance (Cap 581), regardless of the number of deposits so held under the trust; (Added 83 of 1995 s. 16. Amended 7 of 2004 s. 55; 11 of 2010 s. 14)
- (i) such sum is, under the contract or in the
ordinary course of business, payable in a place outside Hong Kong where assets
of the company are maintained and under the law of that place the claim in
respect of which the sum is payable is, in the event of a winding up, accorded
priority with respect to those assets over claims which under the contract or in
the ordinary course of business are payable at any other place;
or
(ii) the person to whom the sum is payable is entitled with respect to the claim to claim compensation under any scheme designed to secure compensation to persons in circumstances where the insurer becomes insolvent; (Added 79 of 1988 s. 8)
(f) where the company being wound up is an insurer, any sum payable (after offsetting the amount of any sums owing from the claimant) to a person in respect of any claim (other than a claim for a refund of premium) made under or in accordance with a contract of reinsurance effected by the insurer, as reinsurer, as part of its general business carried on in or from Hong Kong, unless such sum is, under the contract or in the ordinary course of business, payable in a place outside Hong Kong where assets of the company are maintained and under the law of that place the claim in respect of which the sum is payable is, in the event of a winding up, accorded priority with respect to those assets over claims which under the contract or in the ordinary course of business are payable at any other place. (Added 79 of 1988 s. 8)
(1B) Where the relevant date is on or after 1 April 1977, the sum of $8000 shall be deemed to be substituted in each case for the sums of $3000 referred to in paragraphs (b) and (c) respectively, and for the sum of $6000 referred to in paragraph (ca), of subsection (1). (Added 4 of 1977 s. 2)
(2) Subject to subsection (1)(b) and (c), where any payment on account of wages or salary, or severance payment, or long service payment or wages in lieu of notice payable under the Employment Ordinance (Cap 57), or accrued holiday remuneration, has been made to any clerk, servant, workman or labourer in the employment of a company out of money advanced by some person for that purpose, that person shall in a winding up have a right of priority in respect of the money so advanced and paid up to the amount by which the sum in respect of which that clerk, servant, workman or labourer would have been entitled to priority in the winding up has been diminished by reason of the payment having been made. (Amended 6 of 1984 s. 181; 12 of 1985 s. 29(3); 77 of 1985 s. 2)
(3) The debts specified in subsection (1)(b), (c), (ca), (caa), (cb), (cc), (cd), (ce), (cf), (cg), (ch), (ci) and (cj)- (Amended 55 of 1974 s. 2; 4 of 1977 s. 2; 6 of 1984 s. 181; 77 of 1985 s. 2; 54 of 1991 s. 47; 88 of 1992 s. 84; 80 of 1995 s. 49)
- (a) shall have priority over the debts
specified in subsection (1)(d);
(b) shall rank equally among themselves; and
(c) shall be paid in full unless the assets are insufficient to meet them, in which case they shall abate in equal proportions among themselves. (Replaced 41 of 1970 s. 2)
(3AAA) The debts specified in subsection (1)(da) shall have priority over the debts specified in subsection (1)(db), (e), (ea) and (f). (Added 10 of 1993 s. 2. Amended 83 of 1995 s. 16)
(3AAAA) The debts specified in subsection (1)(db)-
- (a) shall have priority over the debts in
subsection (1)(e), (ea) and (f);
(b) shall rank equally among themselves; and
(c) shall be paid in full unless the assets are insufficient to meet them, in which case they shall abate in equal proportions among themselves. (Added 83 of 1995 s. 16)
- (a) shall have priority over the debts
specified in subsection (1)(f);
(b) shall rank equally among themselves; and
(c) shall be paid in full unless the assets are insufficient to meet them, in which case they shall abate in equal proportions among themselves. (Added 79 of 1988 s. 8. Amended 54 of 1991 s. 47)
- (a) shall rank equally among themselves;
and
(b) shall be paid in full unless the assets are insufficient to meet them, in which case they shall abate in equal proportions among themselves. (Added 79 of 1988 s. 8)
(4) Subject to the retention of such sums as may be necessary for the costs and expenses of the winding up, the foregoing debts shall be discharged forthwith so far as the assets are sufficient to meet them.
(5) In the event of a landlord or other person distraining or having distrained on any goods or effects of the company within 3 months next before the date of a winding-up order, the debts to which priority is given by this section shall be a first charge on the goods or effects so distrained on, or the proceeds of the sale thereof. (Amended 41 of 1970 s. 2)
(5A) Any money paid under a charge under subsection (5) shall be a debt due from the company to the landlord or other person having distrained, and such debt shall be discharged so far as the assets are sufficient to meet it after payment of the debts specified in subsection (1) but before payment of the other debts proved in the winding up. (Added 41 of 1970 s. 2)
(5B) Where in any winding up assets have been recovered under an indemnity for costs of litigation given by certain creditors, or have been protected or preserved by the payment of moneys or the giving of indemnity by creditors, or where expenses in relation to which a creditor has indemnified a liquidator have been recovered, the court may, on the application of the Official Receiver or the liquidator or any such creditor, make such order as it deems just with respect to 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 6 of 1984 s. 181)
(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 company during that period. (Added 6 of 1984 s. 181)
(5D) The deposits given priority under subsection (1)(db) do not include the following-
- (a) terms deposits where the current term
agreed to by the depositor at the most recent time it was negotiated exceeds 5
years;
(b) deposits made after the date of publication of a notice in the Gazette under section 28(2)(b) of the Banking Ordinance (Cap 155) that the company has been removed from the register and has ceased to be a bank. (Added 83 of 1995 s. 16)
- (a) an arrangement has been entered into or
carried out on or after the specified date in relation to a deposit with the
company except where the arrangement is one in pursuance of a legally
enforceable obligation incurred prior to that date;
(b) the arrangement has, or would have had but for this subsection, the effect of enabling a person to become entitled to priority under subsection (1)(db), to which the person would otherwise not be entitled; and
(c) it would be concluded, having regard to-
- (i) the manner in which, and the circumstances
under which, the arrangement was entered into or carried out;
(ii) the form and substance of the arrangement; and
(iii) the result in relation to the operation of this Ordinance that, but for this subsection, would have been achieved by the arrangement,
(5F) Deposits given priority under subsection (1)(db) do not include-
- (a) a deposit held for the account of the
Exchange Fund established by the Exchange Fund Ordinance (Cap
66);
(b) a deposit held by an excluded person in his own right, or, in the case of a deposit held by an excluded person and a non-excluded person in their own right (except where those persons carry on business in partnership), the portion of the deposit attributable to the excluded person’s share in the deposit;
(c) a deposit held by a depositor as a bare trustee for an excluded person, or in a client account for an excluded person as the depositor’s client, or, in the case of a deposit so held for an excluded person and a non-excluded person (except where those persons carry on business in partnership), the portion of the deposit attributable to the excluded person’s share in the deposit; and
(d) a deposit held by a depositor as a trustee (but not a bare trustee) for an excluded person only. (Replaced 7 of 2004 s. 55)
(5H) For the purposes of paragraph (db) of subsection (1)-
- (a) if the depositor referred to in
subparagraph (i) of that paragraph consists of 2 or more persons-
- (i) in the case where the persons carry on
business in partnership, those persons are, for the purpose of priority given
under that paragraph, a single and continuing body of persons as distinct from
the persons who may from time to time be the members of the
partnership;
(ii) in any other case, each of those persons is deemed to have an equal share in the deposit, or the relevant portion thereof, unless the contrary is proved to the satisfaction of the liquidator or provisional liquidator;
- (i) in the case where the persons carry on
business in partnership, those persons are, for the purpose of priority given
under that paragraph, a single and continuing body of persons as distinct from
the persons who may from time to time be the members of the
partnership;
(ii) in any other case, each of those persons is deemed to have an equal share in the deposit, or the relevant portion thereof, unless the contrary is proved to the satisfaction of the liquidator or provisional liquidator; and
(5J) If-
- (a) a person has more than one of the following
capacities-
- (i) a depositor holding one or more deposits,
or portion thereof, in his own right;
(ii) a beneficiary for whom one or more deposits, or portion thereof, is or are held by a depositor as a bare trustee;
(iii) a client for whom one or more deposits, or portion thereof, is or are held by a depositor in a client account; and
(6) In this section-
"accrued holiday remuneration" (累算的假日薪酬) 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 company continued until he became entitled to be allowed the holiday;
"arrangement" (安排) includes an arrangement, transaction, operation or scheme whether or not such arrangement, transaction, operation or scheme is enforceable, or intended to be enforceable, by legal proceedings; (Added 7 of 2004 s. 55)
"bank" (銀行) has the same meaning as in the Banking Ordinance (Cap 155); (Added 83 of 1995 s. 16)
"bare trustee" (被動受託人) has the same meaning as in the Deposit Protection Scheme Ordinance (Cap 581); (Added 7 of 2004 s. 55)
"chief executive" (行政總裁) has the same meaning as in the Banking Ordinance (Cap 155); (Added 7 of 2004 s. 55)
"client account" (客戶帳戶), in relation to a depositor, means an account maintained by the depositor with a bank for the purpose of holding money held by the depositor for a client of the depositor, whether or not other money may be held in the account; (Added 7 of 2004 s. 55)
"controller" (控權人) has the same meaning as in the Banking Ordinance (Cap 155); (Added 83 of 1995 s. 16. Amended 7 of 2004 s. 55)
"deposit" (存款) and "depositor" (存款人) have the same meaning as in the Deposit Protection Scheme Ordinance (Cap 581); (Added 83 of 1995 s. 16. Amended 7 of 2004 s. 55; 11 of 2010 s. 14)
"Employees Compensation Assistance Fund" (僱員補償援助基金) means the fund established by section 7 of the Employees Compensation Assistance Ordinance (Cap 365); (Added 54 of 1991 s. 47)
"excluded person" (豁除人士), in relation to a deposit maintained with the company being wound up, means-
- (a) a related company of the
company;
(b) an officer of the company being wound up or its related company on-
- (i) the date immediately preceding the date on
which a Manager within the meaning of section 2(1) of the Banking Ordinance (Cap
155) is appointed in respect of the company being wound up under section 52 of
that Ordinance; or
(ii) the date on which the petition for the winding up of the company being wound up is presented,
whichever is the earlier;
(d) an authorized financial institution; or
(e) a foreign bank; (Added 7 of 2004 s. 55)
- (a) is incorporated outside Hong
Kong;
(b) is not an authorized financial institution; and
(c) may, in or outside the place where it is incorporated, lawfully take deposits from the general public (whether or not on current account), or is authorized or recognized as a bank in that place; (Added 7 of 2004 s. 55)
"insurer" (保險人) means a person carrying on insurance business; (Added 79 of 1988 s. 8)
"manager" (經理) has the same meaning as in the Banking Ordinance (Cap 155); (Added 83 of 1995 s. 16)
"non-excluded person" (非豁除人士) means a person who is not an excluded person; (Added 7 of 2004 s. 55)
"officer" (人員), in relation to a company that is an authorized financial institution, means-
- (a) a director of the company;
(b) a chief executive of the company;
(c) a controller of the company; or
(d) a manager of the company; (Added 7 of 2004 s. 55)
"related company" (關連公司), in relation to a company, means-
- (a) a subsidiary of the
company;
(b) a holding company of the company; or
(c) a subsidiary of the holding company; (Added 7 of 2004 s. 55)
- (a) in the case of a company ordered to be
wound up compulsorily, the date of the appointment (or first appointment) of a
provisional liquidator or, if no such appointment was made, the date of the
winding-up order, unless in either case the company had commenced to be wound up
voluntarily before that date; and
(b) in any case where paragraph (a) does not apply, the date of the commencement of the winding up;
- (a) in a case where a company is being wound up
by the court and the relevant date in the case of that company is a date other
than the date of the commencement of the winding up, the period-
- (i) beginning 4 months next before the
commencement of the winding up and ending on the relevant date;
or
(ii) beginning 4 months next before the last day of service within the meaning of section 16(4) of the Protection of Wages on Insolvency Ordinance (Cap 380) of any clerk or servant or labourer or workman, as the case may be, who has made an application for an ex gratia payment under section 15(1) of that Ordinance, and ending on that last day of service, (Replaced 68 of 1996 s. 5)
whichever is the earlier;
- (i) of 4 months next before the relevant date;
or
(ii) beginning 4 months next before the last day of service within the meaning of section 16(4) of the Protection of Wages on Insolvency Ordinance (Cap 380) of any clerk or servant or labourer or workman, as the case may be, who has made an application for an ex gratia payment under section 15(1) of that Ordinance, and ending on that last day of service, (Replaced 68 of 1996 s. 5)
whichever is the earlier; (Replaced 48 of 1987 s. 8)
- (a) the date on which a Manager within the
meaning of section 2(1) of the Banking Ordinance (Cap 155) is appointed in
respect of the company under section 52 of that Ordinance; or
(b) the date on which the petition for the winding up of the company is presented,
"statutory debt" (法定債項) means a debt the liability for which and the amount of which are determined by or under any provision in any Ordinance; (Amended 23 of 1999 s. 3)
"wages" (工資) 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 6 of 1984 s. 181)
(7) The Companies (Amendment) Ordinance 1984 (6 of 1984) shall not apply in the case of a winding up where the relevant date occurred before the commencement* of that Ordinance, and, in such a case, the provisions relating to preferential payments which would have applied if that Ordinance had not been enacted shall be deemed to remain in full force. (Added 6 of 1984 s. 181)
(8) The Fourth Schedule to the Protection of Wages on Insolvency Ordinance 1985 (12 of 1985) shall not apply in the case of a winding up where the date of the commencement of the winding up occurred before the commencement+ of that Ordinance, and, in such case, the provisions relating to preferential payments which would have applied if that Ordinance had not been enacted shall be deemed to remain in full force (Added 12 of 1985 s. 29(3))
(9) The Companies (Amendment) (No. 3) Ordinance 1988 (79 of 1988) shall not apply in the case of a winding up where the date of the commencement of the winding up occurred before the commencement of that Ordinance, and, in such a case, the provisions relating to preferential payments which would have applied if that Ordinance had not been enacted shall be deemed to remain in full force. (Added 79 of 1988 s. 8)
(10) Section 5(a) of the Protection of Wages on Insolvency (Amendment) Ordinance 1996 (68 of 1996) ("the amending Ordinance") shall not apply in the case of a winding up to which an application under section 15(1) of the Protection of Wages on Insolvency Ordinance (Cap 380) relates where such application is made before the commencement** of the amending Ordinance, and in such a case, the provisions relating to preferential payments which would have applied if the amending Ordinance had not been enacted shall be deemed to remain in full force. (Added 68 of 1996 s. 5)
(11) In the case of a winding up where the relevant date has occurred before the commencement*** of the Schedule to the Deposit Protection Scheme (Amendment) Ordinance 2010 (11 of 2010), that Schedule applies in relation to that winding up if the specified event within the meaning of section 22(1) of the Deposit Protection Scheme Ordinance (Cap 581) occurs on or after the commencement of that Schedule. (Added 11 of 2010 s. 14)
[cf. 1929 c. 23 s. 264
U.K.]
___________________________________________________________________________Note:
* Commencement date: 31 August 1984.
+ Commencement date: 19 April 1985.
** Commencement date: 6 December 1996.
*** Commencement date: 1 January 2011.
++ Sections 265(1)(da) was repealed by the Companies (Amendment) Ordinance 1999 (30 of 1999). Section 43 of that Ordinance provides as follows-
- "43. Savings
Despite the repeal of sections 265(1)(da), 290A, 290B and 290E of the principal Ordinance, those sections are to continue to have effect in relation to a company that has been struck off under section 290A of the principal Ordinance as if those sections had not been repealed.".
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http://clic.org.hk/hk/legis/ch/ord/32/s265.html
http://www.legislation.gov.hk/chi/home.htm
http://www.legislation.gov.hk/blis_pdf.nsf/6799165D2FEE3FA94825755E0033E532/503A4E3248B220BC482575EE00308E91?OpenDocument&bt=0
http://www.legislation.gov.hk/blis_pdf.nsf/6799165D2FEE3FA94825755E0033E532/503A4E3248B220BC482575EE00308E91/$FILE/CAP_32_c_b5.pdf
第32章 公司條例 - SECT 265
優先付款
版本日期：01/01/2011
- (a) (由1984年第6號第181條廢除)
(b) 任何─
- (i) 根據《破產欠薪保障條例》(第380章)第18條，就任何文員或受僱人向公司提供服務而應得的工資及薪金或兩者之一，在清盤開始前4個月期間內，從破產欠薪保障基金撥付的款項；及 (由1987年第48號第8條修訂)
(ii) 任何文員或受僱人在有關期間內向公司提供服務而應得的工資及薪金(包括佣金，但其款額在有關日期必須是固定或可確定的)，而連同根據第(i)節作出的任何付款，以不超過$3000為限； (由1985年第12號第29條代替)
- (i) 根據《破產欠薪保障條例》(第380章)第18條，就任何勞工或工人向公司提供服務而應得的工資(不論按時計或按件計)，在清盤開始前4個月期間內，從破產欠薪保障基金撥付的款項；及 (由1987年第48號第8條修訂)
(ii) 任何勞工或工人在有關期間內向公司提供服務而應得的工資(不論按時計或按件計)，而連同根據第(i)節作出的任何付款，以不超過$3000為限； (由1985年第12號第29條代替)
(caa)根據《僱傭條例》(第57章)須支付予僱員的任何長期服務金，以每名僱員不超過$8000為限； (由1985年第77號第2條增補)
(cb) 就《僱員補償條例》(第282章)所指的補償或支付補償的法律責任而欠下的任何款額，而該項補償或支付補償的法律責任是在有關日期前產生的；如該項補償屬按期付款，則就該項補償而欠下的款額，須視為在根據《僱員補償條例》(第282章)提出的贖回該按期付款的申請中，可用作贖回該按期付款(如屬可贖回者)的整筆款額；但如公司須向某僱員支付補償或負有支付補償的法律責任，並已就公司根據《僱員補償條例》(第282章)須對該僱員遭遇意外以致身體受傷負有的法律責任而與任何在香港經營意外保險業務的人訂立合約，或如公司僅為重組或為與其他公司合併而自動清盤，則本段不適用於就該項補償或支付補償的法律責任而須支付的款額； (由1977年第4號第2條增補。由1984年第6號第259條修訂)
(cc) 根據《僱傭條例》(第57章)須支付予僱員的任何代通知金，以每名僱員不超過一個月薪金或$2000為限，兩者以較小的數額為準； (由1977年第4號第2條增補)
(cd) 凡在清盤令作出前或清盤決議通過前，或因清盤令或清盤決議的效力，終止僱用任何文員、受僱人、工人或勞工，則指須支付予該人(如該人去世，則須支付予享有其權利的任何其他人)的所有累算的假日薪酬； (由1984年第6號第181條增補)
(ce) 根據《僱員補償援助條例》(第365章)第IV部從僱員補償援助基金中撥付的款項，而該項付款代表公司就有關日期前根據《僱員補償條例》(第282章)產生的補償或支付補償的法律責任而欠下的款額； (由1991年第54號第47條增補)
(cf) 按照《職業退休計劃條例》(第426章)第73(1)(n)條之下訂立的規則而計算的任何未付供款的款額或當作未付供款的款額，而該款額是正進行清盤的公司按照該條例所指的職業退休計劃的條款而在清盤開始前應已支付的︰
但如就某名僱員而須支付的該款額超過$50000，則佔超出額50%的款額不得根據本款優先於所有其他債項予以償付； (由1992年第88號第84條增補)
(cg) (在以不損害任何信託下的權利或法律責任為原則下)正進行清盤的公司為向《職業退休計劃條例》(第426章)所指的任何職業退休計劃的基金就該等僱員作出供款，而自其僱員薪金中扣除但又未曾撥付予該等基金的任何款額的薪金； (由1992年第88號第84條增補)
(ch) 在《強制性公積金計劃條例》(第485章)下或按照該條例計算的款額，而該款額是正進行清盤的公司按照該條例的條文而在清盤開始前應已支付的：
但如就某名僱員而須支付的該款額超過$50000，則佔超出額50%的款額不得根據本款優先於任何其他債項予以償付； (由1995年第80號第49條增補)
(ci) 正進行清盤的公司為向《強制性公積金計劃條例》(第485章)所指的註冊計劃的核准受託人就該等有關僱員作出供款，而自其有關僱員的有關入息中扣除但又未曾撥付予該核准受託人的任何款額； (由1995年第80號第49條增補)
(cj) 根據《強制性公積金計劃條例》(第485章)須支付予強制性公積金計劃管理局的任何款項及其利息； (由1995年第80號第49條增補。由1998年第4號第2條修訂)
(d) 公司在有關日期欠下政府的所有法定債項，而該等債項是在緊接該日期前12月內已到期應付的； (由1984年第6號第181條代替。由1999年第23號第3條修訂)
(da) (由1999年第30號第18條廢除)##
(db) 凡正進行清盤的公司現時或以往是一間銀行，並且在清盤開始時持有存款，則指向每個存款人支付— (由2004年第7號第55條修訂)
- (i) 該存款人以其本身權益持有的存款或存款中的部分的存款總額，但限額為存款人如《存款保障計劃條例》(第581章)第27(1)條所訂明般有權獲得補償的總款額的上限(不論有多少筆存款)；
(ii) 該存款人以被動受託人身分為每名受益人持有的存款或存款中的部分的存款總額，但在不抵觸第(5J)款的條文下，限額為存款人如《存款保障計劃條例》(第581章)第27(1)條所訂明般有權獲得補償的總款額的上限(不論有多少筆存款是為該受益人如此持有的)；
(iii) 該存款人以客戶帳戶為每名客戶持有的存款或存款中的部分的存款總額，但在不抵觸第(5J)款的條文下，限額為存款人如《存款保障計劃條例》(第581章)第27(1)條所訂明般有權獲得補償的總款額的上限(不論有多少筆存款是為該客戶如此持有的)；及
(iv) 該存款人以受託人(但非被動受託人)身分根據每一項信託持有的存款或存款中的部分的存款總額，但限額為存款人如《存款保障計劃條例》(第581章)第27(2)條所訂明般有權獲得補償的總款額的上限(不論有多少筆存款是根據該信託如此持有的)； (由1995年第83號第16條增補。由2004年第7號第55條修訂；由2010年第11號第14條修訂)
- (i) 根據該份合約或在通常業務運作中，該筆款項須在公司保有其資產的香港以外地方支付，而根據該地方的法律，在清盤之時，就該等資產而言，導致該筆款項須予支付的申索，相對於根據該份合約或在通常業務運作中須在任何其他地方支付的申索，是具有優先權的；或
(ii) 須獲支付該筆款項的人，有權就該項申索而根據任何旨在確保有關人士在該保險人無力償債的情況下可獲補償的計劃申索補償； (由1988年第79號第8條增補)
(f) 凡正進行清盤的公司是保險人，則指就任何根據或按照一份再保險合約提出的申索(要求退回保費的申索除外)，經抵銷申索人所欠的任何款項的數額後，須支付予某人的任何款項，而該份再保險合約乃該保險人以再保險人的身分所達成，是其在香港或從香港經營的一般業務的一部分，但如根據該份合約或在通常業務運作中，該筆款項須在公司保有其資產的香港以外地方支付，而根據該地方的法律，在清盤之時，就該等資產而言，導致該筆款項須予支付的申索，相對於根據該份合約或在通常業務運作中須在任何其他地方支付的申索，是具有優先權的。 (由1988年第79號第8條增補)
(1B) 如有關日期是1977年4月1日當日或在該日之後，則第1款(b)及(c)段分別提述的$3000及第(1)款(ca)段提述的$6000，均須當作以$8000取代。 (由1977年第4號第2條增補)
(2) 在符合第(1)(b)及(c)款的規定下，凡曾就根據《僱傭條例》(第57章)須支付的工資或薪金、遣散費、長期服務金或代通知金，或曾就累算的假日薪酬，從某人為有關目的而墊付的款項中，撥款支付公司所僱用的任何文員、受僱人、工人或勞工，則在清盤中，該人就如此墊付及撥付的款項具有優先權利，但以令該名文員、受僱人、工人或勞工在清盤中本應享有優先權的款額因上述撥款而減少之數為限。 (由1984年第6號第181條修訂；由1985年第12號第29(3)條修訂；由1985年第77號第2條修訂)
(3) 第(1)(b)、(c)、(ca)、(caa)、(cb)、(cc)、(cd)、(ce)、(cf)、(cg)、(ch)、(ci)及(cj)款所指明的債項─ (由1974年第55號第2條修訂；由1977年第4號第2條修訂；由1984年第6號第181條修訂；由1985年第77號第2條修訂；由1991年第54號第47條修訂；由1992年第88號第84條修訂；由1995年第80號第49條修訂)
- (a) 相對於第(1)(d)款所指明的債項，具有優先權；
(b) 彼此具有同等順序攤還次序；及
(c) 須悉數償付，但如有關資產不足以應付該等債項，則須按相等比例減少該等債項的償付額。 (由1970年第41號第2條代替)
(3AAA) 第(1)(da)款所指明的債項，相對於第(1)(db)、(e)、(ea)及(f)款所指明的債項，具有優先權。 (由1993年第10號第2條增補。由1995年第83號第16條修訂)
(3AAAA) 第(1)(db)款所指明的債項─
- (a) 相對於第(1)(e)、(ea)及(f)款的債項，具有優先權；
(b) 彼此具有同等順序攤還次序；及
(c) 須悉數償付，但如有關資產不足以應付該等債項，則須按相等比例減少該等債項的償付額。 (由1995年第83號第16條增補)
- (a) 相對於第(1)(f)款所指明的債項，具有優先權；
(b) 彼此具有同等順序攤還次序；及
(c) 須悉數償付，但如有關資產不足以應付該等債項，則須按相等比例減少該等債項的償付額。 (由1988年第79號第8條增補。由1991年第54號第47條修訂)
- (a) 彼此具有同等順序攤還次序；及
(b) 須悉數償付，但如有關資產不足以應付該等債項，則須按相等比例減少該等債項的償付額。 (由1988年第79號第8條增補)
(4) 在保留需用以支付清盤的費用及開支的款項後，以上各債項須在有關資產足以應付該等債項的範圍內，立即予以清償。
(5) 如業主或其他人在緊接清盤令日期前3個月內扣押或曾扣押公司的任何貨品或物品，則獲本條給予優先權的各債項，即為被如此扣押的貨品或物品或出售該等貨品或物品所得收益的第一押記。 (由1970年第41號第2條修訂)
(5A) 任何根據第(5)款所指押記而支付的款項，即為公司欠曾作出扣押的業主或其他人的債項，而在償付第(1)款所指明的各債項後，但在償付其他已在清盤中予以證明的債項前，須在有關資產足以應付該債項的範圍內，清償該債項。 (由1970年第41號第2條增補)
(5B) 凡在任何清盤中，有任何資產根據某些債權人就訟費所提供的彌償而已獲討回，或藉債權人付款或提供彌償而得到保護或得以保存，或如債權人曾就某等開支而向清盤人提供彌償，而該等開支已獲討回，則法院應破產管理署署長、清盤人或任何該等債權人的申請，可在派發該等資產及如此討回的開支款額方面，作出法院認為公正的命令，以使該等債權人較其他人佔優，作為他們作出上述行動時所冒風險的代價。 (由1984年第6號第181條增補)
(5C) 就某段假期或某段因病或其他好的因由缺勤的期間而應得的薪酬，須當作在該段假期或缺勤期間內向公司提供服務而應得的工資。 (由1984年第6號第181條增補)
(5D) 根據第(1)(db)款獲給予優先權的存款，並不包括以下項目─
- (a) 定期存款(如存款人在最近所議定的現行存款期超過5年)；
(由2004年第7號第55條修訂)
(b) 在根據《銀行業條例》(第155章)第28(2)(b)條於憲報刊登一項公告的日期後所作的存款，而該項公告為述明公司已自登記冊中刪去以及不再是一間銀行者。 (由1995年第83號第16條增補)
- (a)
有一項安排(屬依據在指明日期之前招致的在法律上可強制執行的義務的安排除外)在指明日期當日或之後，就存放於該公司的存款訂立或實行；
(b) 該安排具有使某人根據第(1)(db)款有權享有他在其他情況下不會有權享有的優先權的效力，或若非因本款的規定本會具有使某人根據第(1)(db)款有權享有他在其他情況下不會有權享有的優先權的力；而
(c) 經顧及—
- (i) 訂立或實行該安排的方式及情況；
(ii) 該安排的形式及實質；及
(iii) 若非因本款的規定該安排本會達致的關乎本條例的施行方面的結果，
(5F) 根據第(1)(db)款獲給予優先權的存款，並不包括—
- (a) 為《外匯基金條例》(第66章)所設立的外匯基金的帳戶持有的存款；
(b) 由豁除人士以其本身權益持有的存款，而在存款是由豁除人士和非豁除人士以他們本身權益持有的情況下(但該等人士以合夥形式經營業務的情況除外)，則並不包括該存款可歸於該豁除人士在該存款中所佔份額的部分；
(c) 存款人以被動受託人的身分為豁除人士持有的存款，或存款人以客戶帳戶為作為其客戶的豁除人士持有的存款，而在存款是為豁除人士和非豁除人士(但該等人士以合夥形式經營業務的情況除外)如此持有的情況下，則並不包括該存款可歸於該豁除人士在該存款中所佔份額的部分；及
(d) 存款人以受託人(但非被動受託人)身分只為某豁除人士持有的存款。 (由2004年第7號第55條代替)
(5H) 為施行第(1)款(db)段—
- (a) 如該段第(i)節所提述的存款人由2個或多於2個的人組成—
- (i)
在該等人以合夥形式經營業務的情況下，就根據該段給予的優先權而言，該等人是單一及延續的團體，須與不時屬該合夥的成員的人區別；
(ii) 在任何其他情況下，除非有證明成立令清盤人或臨時清盤人信納該等人中的每一人均在該筆存款或其有關部分中並非佔有相等份額，否則該等人中的每一人均當作在該筆存款或其有關部分中佔有相等份額；
- (i)
在該等人以合夥形式經營業務的情況下，就根據該段給予的優先權而言，該等人是單一及延續的團體，須與不時屬該合夥的成員的人區別；
(ii) 在任何其他情況下，除非有證明成立令清盤人或臨時清盤人信納該等人中的每一人均在該筆存款或其有關部分中並非佔有相等份額，否則該等人中的每一人均當作在該筆存款或其有關部分中佔有相等份額；及
(5J) 如—
- (a) 任何人有多於一個的以下的身分—
- (i)
(在存款人是以其本身權益持有一筆或多於一筆的存款或其部分的情況下)有關存款人；
(ii) (在存款人以被動受託人身分為受益人持有一筆或多於一筆的存款或其部分的情況下)有關受益人；
(iii) (在存款人以客戶帳戶為客戶持有一筆或多於一筆的存款或其部分的情況下)有關客戶；而
(6) 在本條中─
“一般業務”(general business) 指《保險公司條例》(第41章)第2(1)條所界定的不屬長期業務的保險業務； (由1988年第79號第8條增補)
“人員”(officer) 就任何屬認可財務機構的公司而言，指—
- (a) 該公司的董事；
(b) 該公司的行政總裁；
(c) 該公司的控權人；或
(d) 該公司的經理； (由2004年第7號第55條增補)
“外地銀行”(foreign bank) 指符合以下說明的公司—
- (a) 在香港以外成立為法團；
(b) 並非認可財務機構；及
(c) 可在它成立為法團所在的地方或在其他地方，合法地接受公眾人士的存款(不論款項是否存入來往帳戶)，或是在該地方獲認可或承認為銀行者； (由2004年第7號第55條增補)
“安排”(arrangement) 包括安排、交易、行動或計劃，而不論該安排、交易、行動或計劃是否可藉法律程序或意圖可藉法律程序而強制執行； (由2004年第7號第55條增補)
“存款”(deposit) 及“存款人”(depositor) 的涵義與《存款保障計劃條例》(第581章)中該等詞語的涵義相同； (由1995年第83號第16條增補。由2004年第7號第55條修訂；由2010年第11號第14條修訂)
“有關日期”(the relevant date)─
- (a) 如屬被下令強制清盤的公司，指委任(或首次委任)臨時清盤人的日期，或如沒有作出該項委任，則指清盤令日期，但如公司在任何一種該等情況下，於該日期前已開始自動清盤，則屬例外；及
(b) 在(a)段並不適用的情況下，指清盤開始日期；
- (a) 如屬正由法院清盤的公司，而就該公司而言，有關日期並非清盤開始日期，則指─
- (i) 由緊接清盤開始前4個月起計，至有關日期的一段期間；或
(ii) (如任何文員或受僱人或勞工或工人(視屬何情況而定)已根據《破產欠薪保障條例》(第380章)第15(1)條申請特惠款項)由緊接該條例第16(4)條所指的服務的最後一天之前4個月期間的首日起計，至該服務的最後一天止的一段期間， (由1996年第68號第5條代替)
(b) 在(a)段並不適用的情況下，則指─
- (i) 緊接有關日期前的一段4個月期間；或
(ii) (如任何文員或受僱人或勞工或工人(視屬何情況而定)已根據《破產欠薪保障條例》(第380章)第15(1)條申請特惠款項)由緊接該條例第16(4)條所指的服務的最後一天之前4個月期間的首日起計，至該服務的最後一天止的一段期間， (由1996年第68號第5條代替)
兩者以較早的一段期間為準； (由1987年第48號第8條代替)
“非豁除人士”(non-excluded person) 指並非豁除人士的人； (由2004年第7號第55條增補)
“客戶帳戶”(client account) 就存款人而言，指該存款人為持有他為其客戶持有的款項的目的而在銀行維持的帳戶，不論可否以該帳戶持有其他款項； (由2004年第7號第55條增補)
“指明日期”(specified date) 就任何公司而言，指—
- (a)
《銀行業條例》(第155章)第2(1)條所指的經理人根據該條例第52條就該公司而獲委任的日期；或
(b) 要求將該公司清盤的呈請的作出日期，
“保險人”(insurer) 指經營保險業務的人； (由1988年第79號第8條增補)
“破產欠薪保障基金”(Protection of Wages on Insolvency Fund) 指根據《破產欠薪保障條例》(第380章)第6條當作已設立並繼續存在的基金； (由1985年第12號第29(3)條增補)
“被動受託人”(bare trustee) 的涵義與《存款保障計劃條例》(第581章)中該詞的涵義相同； (由2004年第7號第55條增補)
“累算的假日薪酬”(accrued holiday remuneration) 就任何人而言，包括假若該人繼續受僱於公司直至有權獲取某段假期為止，則憑藉該人的僱傭合約或憑藉任何成文法則(包括根據任何條例作出的任何命令或指示)，按通常情況下須就該段假期而支付予該人的薪酬而須予支付的所有款項；
“控權人”(controller) 的涵義與《銀行業條例》(第155章)中該詞的涵義相同； (由1995年第83號第16條增補。由2004年第7號第55條修訂)
“經理”(manager) 的涵義與《銀行業條例》(第155章)中該詞的涵義相同； (由1995年第83號第16條增補)
“銀行”(bank) 的涵義與《銀行業條例》(第155章)中該詞的涵義相同； (由1995年第83號第16條增補)
“僱員補償援助基金”(Employees Compensation Assistance Fund) 指藉《僱員補償援助條例》(第365章)第7條設立的基金。 (由1991年第54號第47條增補)
“豁除人士”(excluded person) 就任何存放於正進行清盤的公司的存款而言，指—
- (a) 該公司的關連公司；
(b) 在以下日期屬該正進行清盤的公司或其關連公司的人員—
- (i)
在緊接《銀行業條例》(第155章)第2(1)條所指的經理人根據該條例第52條就正進行清盤的公司而獲委任的日期前的一日；或
(ii) 要求將正進行清盤的公司清盤的呈請的作出日期，
以較早者為準；
(d) 認可財務機構；或
(e) 外地銀行； (由2004年第7號第55條增補)
- (a) 該公司的附屬公司；
(b) 該公司的控股公司；或
(c) 該控股公司的附屬公司。 (由2004年第7號第55條增補)
(8) 凡在任何清盤中，清盤開始日期是在《1985年破產欠薪保障條例》++(1985年第12號)生效+之前，則該條例的附表4不適用於該宗清盤，而在該情況下，假若該條例未曾制定本會適用的關於優先付款的條文，須當作仍然完全有效。 (由1985年第12號第29(3)條增補)
(9) 凡在任何清盤中，清盤開始日期是在《1988年公司(修訂)(第3號)條例》#(1988年第79號)生效之前，則該條例不適用於該宗清盤，而在該情況下，假若該條例未曾制定本會適用的關於優先付款的條文，須當作仍然完全有效。 (由1988年第79號第8條增補)
(10) 在任何與根據《破產欠薪保障條例》(第380章)第15(1)條作出的申請有關的清盤中，如提出該申請的日期是在《1996年破產欠薪保障(修訂)條例》(1996年第68號)(“修訂條例”)生效**之前，則在該宗清盤中，修訂條例第5(a)條不適用，而在該情況下，假若修訂條例不曾制定則會適用的關於優先付款的條文，須當作仍然完全有效。 (由1996年第68號第5條增補)
(11) 凡在任何清盤中，有關日期是在《2010年存款保障計劃(修訂)條例》(2010年第11號)的附表生效***之前， 則如《存款保障計劃條例》(第581章)第22(1)條所指的指明事件，是在該附表生效之日或之後發生，該附表就該宗清盤而適用。 (由2010年第11號第14條增補)
[比照 1929 c.
23 s. 264 U.K.]
___________________________________________________________________________註：
@ “《1984年公司(修訂)條例》”乃“Companies (Amendment) Ordinance 1984”之譯名。
* 生效日期：1984年8月31日。
++ “《1985年破產欠薪保障條例》”乃“Protection of Wages on Insolvency Ordinance 1985”之譯名。
+ 生效日期：1985年4月19日。
# “《1988年公司(修訂)(第3號)條例》”乃“Companies (Amendment) (No. 3) Ordinance 1988”之譯名。
** 生效日期：1996年12月6日。
*** 生效日期：2011年1月1日。
## 第265(1)(da)條由《1999年公司(修訂)條例》(1999年第30號)廢除。該條例第43條有以下規定─
- “43.
保留條文
- 儘管主體條例第265(1)(da)、290A、290B及290E條現予廢除，就已經根據主體條例第290A條被剔除名稱的公司而言，該等條文仍繼續有效，猶如該等條文未曾廢除一樣。”。
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