Section 309 — Companies Act 1993: Claims relating to debts payable after commencement of liquidation

309 Claims relating to debts payable after commencement of liquidation (1) A claim in respect of a debt that, but for the liquidation, would not be payable until a date that is 6 months, or later than 6 months, after the date of commencement of the liquidation is to be treated, for the purposes of this Part of this Act, as a claim for the present value of the debt. (2) For the purposes of subsection (1) of this section, the present value of a debt is to be determined by deducting from the amount of the debt interest at the prescribed rate (within the meaning of section 87(3) of the Judicature Act 1908 ) for the period from the date on which the company is put into liquidation to the date when the debt is due. Subsection (1) was amended, as from 26 April 1999, by section 13 Companies Amendment Act 1999 (1999 No 19) by inserting, before the word “ commencement ” , the words “ date of ” .