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The Banks and Building Societies (Depositor Preference and Priorities) Order 2014
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The Banks and Building Societies (Depositor Preference and Priorities) Order 2014, Section 10 is up to date with all changes known to be in force on or before 15 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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Administration and preferential debtsU.K.
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10.—(1) Schedule B1(1) to the Insolvency Act 1986 (administration), paragraph 73(1) is amended as follows.
(2) Omit the “or” at the end of paragraph (b).
(3) After paragraph (b) insert—
“(bb)would result in an ordinary preferential debt of the company being paid otherwise than in priority to any secondary preferential debts that it may have,”.
(4) In paragraph (c), for “his debt” substitute “an ordinary preferential debt”.
(5) At the end of paragraph (c), insert—
“or
(d)would result in one preferential creditor of the company being paid a smaller proportion of a secondary preferential debt than another.”.
Commencement Information
I1Art. 10 in force at 1.1.2015, see art. 1(2)
(1)
Schedule B1 to the Insolvency Act 1986 was inserted by the Enterprise Act 2002 (c.40), Schedule 16.
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