Section 377B(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.

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Source: legislation.gov.uk · retrieved 2026-09-04