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

Amendments of Schedule 4 to the Insolvent Partnerships Order (Northern Ireland) 1995 U.K.

26.—(1) Paragraph 23 of Schedule 4 to the Insolvent Partnerships Order (Northern Ireland) 1995 (provisions of the Order which apply with modifications for the purposes of Article 8 to winding up of insolvent partnership on creditor’s petition where concurrent petitions are presented against one or more members)(1) is amended as follows.

(2) In modified Article 149A(2) (priority of debts in joint estate), for sub-paragraph (a) substitute—

“(a) the ordinary preferential debts;

(aa) the secondary preferential debts;”.

(3) In modified Articles 149A(4), 149A(5), 149A(6) and 149B(2), for “sub-paragraphs (a) and (b)” substitute “sub-paragraphs (a), (aa) and (b)”.

(4) In modified Article 149B(1) (priority of debts in separate estate), for sub-paragraph (a) substitute—

“(a) the ordinary preferential debts;

(aa) the secondary preferential debts;”.

Commencement Information

I1 Art. 26 in force at 1.1.2015, see art. 1(2)

(1)

Amended by S.R. 2003 No.144.