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2(1)The relevant enactment relating to companies' winding-up is section 319 of the [1948 c. 38.] Companies Act 1948: but no priority under that enactment is extended by section 153(1) where a company is being wound up voluntarily merely for the purposes of reconstruction or amalgamation with another company.
(2)For the operation of that enactment, " the relevant event" in section 153(2) is to be construed as follows—
(a)where the company is wound up compulsorily—
(i)if it had previously commenced to be wound up voluntarily, " the relevant event " means the passing of the winding-up resolution, and
(ii)otherwise, it means the appointment (or first appointment) of a provisional liquidator or, in the absence of such an appointment, the making of the winding-up order ;
(b)in any other case, " the relevant event" means the passing of the winding-up resolution.
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