asked the Minister for Industry, Commerce and Tourism when he proposes to introduce legislation to amend the Companies Act, 1963 with special reference to section 285, subsections 2 and 3; if his attention has been drawn to the severe hardship caused to workers where companies go into liquidation under these subsections and if he will make a statement on the matter.
Written Answers. - Companies Act, 1963, Amendment.
203.
I assume that the Deputy is concerned primarily with the limit of £300 on arrears of wages, salaries and accrued holiday remuneration ranking as priority debts on winding up of a company in accordance with the provision referred to in the question.
I recognise that an increase in the existing limit of £300 is necessary. A proposal to that end is one of a number of amendments to the Companies Acts being considered for inclusion in a Bill which I hope to put before the House in the near future.