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The Banks and Building Societies (Depositor Preference and Priorities) Order 2014
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Housing Act 1996
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29.—(1) The Housing Act 1996(1) is amended as follows.
(2) In section 44(4) (proposals as to ownership and management of landlord’s land)—
(a)omit the “or” at the end of paragraph (a);
(b)after paragraph (a) insert—
“(aa)an ordinary preferential debt of the landlord is to be paid otherwise than in priority to any secondary preferential debts that the landlord may have,”;
(c)in paragraph (b), for “his preferential debt” substitute “an ordinary preferential debt”;
(d)at the end of paragraph (b), insert—
“or
(c)a preferential creditor is to be paid a smaller proportion of a secondary preferential debt than another preferential creditor, except with the concurrence of the creditor concerned.”;
(e)after “references to preferential debts” insert “, ordinary preferential debts, secondary preferential debts”.
(1)
1996 c.52. There are amendments to section 44 which are not relevant to this Order.
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