{
  "url": "https://openlegislation.uk/insolvency-act-1986/section-115",
  "json_url": "https://openlegislation.uk/insolvency-act-1986/section-115.json",
  "legislation": "ukpga/1986/45",
  "legislation_title": "Insolvency Act 1986",
  "legislation_url": "https://openlegislation.uk/insolvency-act-1986",
  "path": "section/115",
  "kind": "section",
  "number": "115",
  "heading": "Expenses of voluntary winding up.",
  "text": "After the payment of any liabilities to which section 174A applies, all expenses properly incurred in the winding up, including the remuneration of the liquidator, are payable out of the company’s assets in priority to all other claims.",
  "extent": "E+W+S",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in s. 115 inserted (26.6.2020) by Corporate Insolvency and Governance Act 2020 (c. 12), s. 49(1), Sch. 3 para. 9 (with ss. 2(2), 5(2))"
    },
    {
      "type": "C",
      "label": "C1",
      "text": "S. 115 applied (with modifications) (S.) (6.4.2001) by S.S.I. 2001/128, reg. 4(1), Sch. 2"
    },
    {
      "type": "C",
      "label": "C2",
      "text": "Ss. 113-115 applied (with modifications) (4.1.2024) by S.I. 2021/716, Sch. 1 para. 3 (as amended by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 20)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1986/45/section/115",
    "retrieved_at": "2026-10-29T09:55:00.443447+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}