Search Legislation

The Banks and Building Societies (Depositor Preference and Priorities) Order 2014

 Help about what version

What Version

 Help about advanced features

Advanced Features

 Help about opening options

Opening OptionsExpand opening options

Changes over time for: Section 30

 Help about opening options

Alternative versions:

Changes to legislation:

The Banks and Building Societies (Depositor Preference and Priorities) Order 2014, Section 30 is up to date with all changes known to be in force on or before 17 February 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

Housing and Regeneration Act 2008U.K.

This section has no associated Explanatory Memorandum

30.—(1) The Housing and Regeneration Act 2008(1) is amended as follows.

(2) In section 152(4) (proposals)—

(a)omit the “or” at the end of paragraph (a);

(b)after paragraph (a) insert—

(aa)an ordinary preferential debt being paid otherwise than in priority to a secondary preferential debt,;

(c)in paragraph (b), for “a preferential debt” substitute “an ordinary preferential debt”;

(d)at the end of paragraph (b), insert—

or

(c)a preferential creditor (PC1) being paid a smaller proportion of a secondary preferential debt than another preferential creditor (PC2) (unless PC2 consents).

(3) In section 275 (general)(2), for ““preferential creditor” and “preferential debtor”” substitute ““preferential creditor”, “preferential debt”, “ordinary preferential debt” and “secondary preferential debt””.

(4) In the Table in section 276 (index of defined terms), insert the following entries at the appropriate place—

Ordinary preferential debtSection 275
Secondary preferential debtSection 275

Commencement Information

I1Art. 30 in force at 1.1.2015, see art. 1(2)

(2)

There are amendments to section 275, but those amendments are not relevant to this Order.

Back to top

Options/Help