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The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020

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Non-preferential debts in winding up of companies
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111.  Section 176AZA (non-preferential debts of financial institutions)(1) applies as if after subsection (3) there were inserted—

(3A) The company’s tertiary non-preferential debts shall be paid in priority to its quaternary non-preferential debts..

(1)

Section 176AZA was inserted by S.I. 2018/1244.

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