251 Abolition of Crown preferenceF1E+W+S
(1)The following paragraphs of Schedule 6 to the Insolvency Act 1986 (categories of preferential debts) shall cease to have effect—
(a)paragraphs 1 and 2 (debts due to Inland Revenue),
(b)paragraphs 3 to 5C(debts due to Customs and Excise), and
(c)paragraphs 6 and 7(social security contributions).
(2)The following paragraphs of Schedule 3 to the Bankruptcy (Scotland) Act 1985 (c. 66) (list of preferred debts) shall cease to have effect—
(a)paragraph 1 (debts due to Inland Revenue),
(b)paragraph 2 (debts due to Customs and Excise), and
(c)paragraph 3 (social security contributions).
(3)In section 386 of the Insolvency Act 1986 (categories of preferential debts) for the parenthetical words after “Schedule 6 to this Act” there shall be substituted “ (contributions to occupational pension schemes; remuneration, &c. of employees; levies on coal and steel production) ”.
Textual Amendments applied to the whole legislation
F1Act: for the words "solicitor of the Supreme Court of Northern Ireland" wherever they occur there is substituted (prosp.) the words "solicitor of the Court of Judicature of Northern Ireland" by virtue of Constitutional Reform Act 2005 (c. 4), ss. 59, 148(1), Sch. 11 para. 5 [Editorial Note: this amendment will be carried through into the text of the Act at the same time as any other effects on the Act for the year in which the relevant commencement order (or first such order) is made]