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.