PART 2Amendments of Insolvency Act 1986

Administration and preferential debtsI110

1

Schedule B117 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.