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The Financial Markets and Insolvency Regulations 1991

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Ranking of expenses of relevant office-holderE+W+S

5.  At the end of subsection (4) of section 160 of the Act (duty to giveassistance for the purposes of default proceedings) there shall be addedthe following words—

“and for the purpose of determining the priority in which his expensesare payable out of the assets, sums in respect of time spent shall betreated as his remuneration and other sums shall be treated as hisdisbursements or, in Scotland, outlays.”.

Commencement Information

I1Reg. 5 in force at 25.4.1991, see reg. 1

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