SCHEDULE 4 Modified application of insolvency rules in relation to relevant societies

PART 3 Modified application of the Insolvency (Scotland) Rules 1986

Distributions to creditors

50.  In Rules 2.40 (distributions to creditors: introduction) and Rule 2.41A (payments of dividends) a reference to creditors includes a reference to member-depositors, but only in so far as the member-depositors are owed amounts in respect of deposits.