Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 560

560. Where a payment has been made by a company on account of wages, or in
respect of leave of absence, or termination of employment, under an industrial
instrument, being a payment made out of money advanced by a person for the
purpose of making the payment, the person by whom the money was advanced has,
in the winding up of the company, the same right of priority of payment in
respect of the money so advanced and paid, but not exceeding the amount by
which the sum in respect of which the person who received the payment would
have been entitled to priority in the winding up has been diminished by reason
of the payment, as the person who received the payment would have had if the
payment had not been made.