Section 18 in Kerala Fishermen's Welfare Fund Act, 1985
18. Priority of payment of contributions over other debt.
- Where any person liable to pay contribution under section 4 is adjudicated insolvent or, in case where such person is a company, an order for winding up is made, the amount due from such person under the scheme shall, where the liability therefor has accrued before the order of adjudication or winding up is made, be deemed to be included among the debts which under section 64 of the insolvency Act, 1955 (2 of 1956) or under section 530 of the Companies Act, 1956 (Central Act 1 of 1956) are to be paid in priority to all other debts in the distribution of the property of the insolvent or the assets of the company being wound up, as the case may be.
