128. Priority of tax debt upon bankruptcy or liquidation
Despite anything contained in any other enactment—
-
(a) the trustee in bankruptcy of an individual; or
-
(b) the liquidator of a company which is being wound up,
shall apply the assets of the bankrupt individual or the company, as the case may be, in payment of tax due under this Act or under the previous Act (whether assessed before or after the date of bankruptcy or commencement of winding up) as a privileged debt in priority over all debts of that individual or company, except law costs and any wages which constitute a privileged debt under the Protection of Wages Act.