s 377B Excluded liabilities
(1) Each of the following is an “excluded liability”— (a) a liability with an original maturity of less than 7 days; (b) an amount payable in respect of goods delivered, or a service provided, on or after the date on which the write-down order is made; (c) an amount in respect of remuneration or expenses of a person appointed under section 377G to act as the manager of the write-down order (including amounts incurred before, as well as after, the person’s appointment in connection with the order or the application for the order); (d) an amount secured on property of any kind, other than an amount secured by a charge which, as created, was a floating charge; (e) an amount payable in respect of wages or salary arising under a contract of employment; (f) a contribution or other sum payable in respect of an occupational pension scheme; (g) an amount payable in respect of redundancy payments; (h) an amount payable under a contract or other instrument involving financial services. (2) In this section— “ contract or other instrument involving financial services ” has the meaning given by Schedule ZA2 to the 1986 Act, but does not include an agreement which is, or forms part of, an arrangement involving the issue of a capital market investment (see paragraph 6 of that Schedule); “ floating charge ” has the meaning given by section 251 of the 1986 Act or paragraph (1) of Article 5 of the 1989 Order; “ redundancy payment ” means— a redundancy payment under Part 11 of the Employment Rights Act 1996 or Part 12 of the Employment Rights (Northern Ireland) Order 1996 ( S.I. 1996/1919 (N.I. 16) ), or a payment made to a person who agrees to the termination of their employment in circumstances where they would have been entitled to a redundancy payment under that Part if dismissed; “ wages or salary ” includes— a sum payable in respect of a period of holiday; a sum payable in respect of a period of absence through illness or other good cause; a sum payable in lieu of holiday.