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The Banks and Building Societies (Depositor Preference and Priorities) Order 2014
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Amendments of Schedule 2 to the Insolvent Partnerships Order (Northern Ireland) 1995
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25.—(1) Paragraph 35 of Schedule 2 to the Insolvent Partnerships Order (Northern Ireland) 1995 (provisions of the Order which apply with modifications for the purposes of Article 6 to administration in relation to insolvent partnerships)(1), is amended as follows.
(2) In modified paragraph 74(1)—
(a)omit the “or” at the end of sub-paragraph (b);
(b)after sub-paragraph (b) insert—
“(bb)would result in an ordinary preferential debt of the partnership being paid otherwise than in priority to its secondary preferential debts,”;
(c)in sub-paragraph (c), for “his debt” substitute “an ordinary preferential debt”;
(d)at the end of sub-paragraph (c), insert—
“or
(d)would result in one preferential creditor being paid a smaller proportion of a secondary preferential debt than another.”.
(1)
Schedule 2 was substituted by S.R. (NI) 2006 No. 515.
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