Amendment status not verified — confirm the current text below against the official source.
Priority of contribution assessed by a liquidator. :– Notwith- standing anything contained in the Provincial Insolvency Act, 1920 (5 of 1920), the debts due to a Society under orders of being wound up and the contribu- tion assessed by the liquidator shall rank next to debts due to the Government or to any local authority in order of priority in insolvency proceedings.