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.