The Companies Winding Up (Floating Charges) (Interest) Order, 1949
Whereas under subsection (1) of Section 322 of the Companies Act 1948(a) it is provided that, where a company is being wound up, a floating charge on the undertaking or property of the company shall in certain circumstances be invalid, except to the amount of any cash paid to the company at the time of or subsequently to the creation of, and in consideration for, the charge, together with interest on that amount at the rate of five per cent. per annum or such rate as may for the time being be...