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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 13 is up to date with all changes known to be in force on or before 22 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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Amendments of Schedule 2 to the Insolvent Partnerships Order 1994U.K.
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13.—(1) Paragraph 25 of Schedule 2 to the Insolvent Partnerships Order 1994 (modified provisions of Part 2 of, and Schedule B1 to, the Insolvency Act 1986 (Administration) as applied by Article 6)(1) is amended as follows.
(2) In modified paragraph 73(1)—
(a)omit the “or” at the end of paragraph (b);
(b)after paragraph (b) insert—
“(bb)would result in an ordinary preferential debt of the partnership being paid otherwise than in priority to any secondary preferential debts that it may have,”;
(c)in paragraph (c), for “his debt” substitute “an ordinary preferential debt”;
(d)at the end of paragraph (c), insert—
“or
(d)would result in one preferential creditor of the partnership being paid a smaller proportion of a secondary preferential debt than another.”.
Commencement Information
I1Art. 13 in force at 1.1.2015, see art. 1(2)
(1)
Schedule 2 was substituted by S.I. 2005/1516.
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