PART 3Amendments of Insolvent Partnerships Order 1994
Amendments of Schedule 2 to the Insolvent Partnerships Order 1994I113
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)22 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.