1985 c.66.

Section 51 has been amended by the Bankruptcy and Diligence etc (Scotland) Act 2007 (c.66 (S.)), section 226(2), Schedule 1, paragraphs 1, 43; Schedule 6, Part 1; the Civil Partnership Act 2004 (c.33), Schedule 28, paragraph 39, and S.I. 2003/2109.

Schedule 3 was amended by the Enterprise Act 2002 (c.40), section 251, and Schedule 26; the Pension Schemes Act 1993 (c.48), Schedule 8, paragraph 17; the Financial Services (Banking Reform) Act 2013 (c.33), section 13 and S.I. 1987/2093.

Paragraph 9A was inserted by the Financial Services (Banking Reform) Act 2013 (c.33), section 13(4).

OJ no L173, 12/6/2014, p.190.

OJ no L176, 27/6/2013, p.1. For corrigenda see OJ no L208, 2/8/2013 p.68 and OJ no L321, 30/11/2013 p. 6.

Art. 28 in force at 1.1.2015, see art. 1(2)

http://www.legislation.gov.uk/uksi/2014/3486/article/28/2015-01-01The Banks and Building Societies (Depositor Preference and Priorities) Order 2014enBANKS AND BANKINGBUILDING SOCIETIESStatute Law Database2024-10-24Expert Participation2015-01-01This Order implements the obligation in Article 108 of Directive 2014/59/EU of the European Parliament and of the Council establishing a framework for the recovery and resolution of credit institutions and investment firms (OJ L 173, 12.6.2014, p.190) (“the Directive”) to ensure that both deposits which are eligible for compensation under the financial services compensation scheme (“eligible deposits”) and other deposits which would be eligible deposits but for the fact that they are made in branches of UK banks outside the EEA, are treated as preferential debts, and that eligible deposits are given a higher priority within the class of preferential debts than other deposits.PART 6Further amendments relating to Parts 2 to 5
28The Bankruptcy (Scotland) Act 19851

The Bankruptcy (Scotland) Act 1985 is amended as follows.

2

In section 51 (order of priority in distribution)

a

in subsection (1)—

i

for paragraph (e) substitute—

e

ordinary preferred debts (excluding any interest which has accrued thereon to the date of sequestration);

ea

secondary preferred debts (excluding any interest which has accrued thereon to the date of sequestration);

;

ii

in paragraph (g)(i), before “preferred” insert “ordinary”;

iii

after paragraph (g)(i), insert—

ia

the secondary preferred debts;

;

b

for subsection (2), substitute—

2

In this Act—

a

“preferred debt” means a debt listed in Part I of Schedule 3 to this Act,

b

“ordinary preferred debt” means a debt within any of paragraphs 4 to 6B of Part I of Schedule 3 to this Act,

c

“secondary preferred debt” means a debt within paragraph 6C or 6D of Part 1 of Schedule 3 to this Act, and

Part II of that Schedule shall have effect for the interpretation of Part I.

.

3

In Schedule 3 (preferred debts)

a

after paragraph 6B, insert—

Other deposits

6C

So much of any amount owed at the relevant date by the debtor to one or more eligible persons in respect of an eligible deposit as exceeds any compensation that would be payable in respect of the deposit under the Financial Services Compensation Scheme to that person or those persons.

6D

An amount owed at the relevant date by the debtor to one or more eligible persons in respect of a deposit that—

a

was made through a non-EEA branch of a credit institution authorised by the competent authority of an EEA state, and

b

would have been an eligible deposit if it had been made through an EEA branch of that credit institution.

;

b

in paragraph 9A

i

in sub-paragraph (1), for “paragraph 6B” substitute “paragraphs 6B to 6D”;

ii

in sub-paragraph (2), for “this purpose” substitute “the purposes of those paragraphs and this paragraph”; and

iii

after sub-paragraph (2), insert—

3

In paragraphs 6C and 6D, “eligible person” means—

a

an individual, or

b

a micro-enterprise, a small enterprise or a medium-sized enterprise, each of those terms having the meaning given in Article 2.1(107) of the Directive 2014/59/EU of 15th May 2014 establishing a framework for the recovery and resolution of credit institutions and investment firms.

4

In paragraph 6D—

a

“credit institution” has the meaning given in Article 4.1(1) of the capital requirements regulation;

b

EEA branch” means a branch, as defined in Article 4.1(17) of the capital requirements regulation, which is established in an EEA state;

c

“non-EEA branch” means a branch, as so defined, which is established in a country which is not an EEA state;

and for this purpose “the capital requirements regulation” means Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26th June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012.

.

This XML file does not appear to have any style information associated with it. The document tree is shown below.
<akomaNtoso xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xsi:schemaLocation="http://docs.oasis-open.org/legaldocml/ns/akn/3.0 http://docs.oasis-open.org/legaldocml/akn-core/v1.0/cos01/part2-specs/schemas/akomantoso30.xsd">
<portion includedIn="http://www.legislation.gov.uk/id/uksi/2014/3486">
<meta>
<identification source="#source">
<FRBRWork>
<FRBRthis value="http://www.legislation.gov.uk/id/uksi/2014/3486"/>
<FRBRuri value="http://www.legislation.gov.uk/id/uksi/2014/3486"/>
<FRBRdate date="2014-12-17" name="made"/>
<FRBRauthor href="http://www.legislation.gov.uk/id/government/uk"/>
<FRBRcountry value="GB-UKM"/>
<FRBRsubtype value="order"/>
<FRBRnumber value="3486"/>
<FRBRname value="S.I. 2014/3486"/>
<FRBRprescriptive value="true"/>
</FRBRWork>
<FRBRExpression>
<FRBRthis value="http://www.legislation.gov.uk/uksi/2014/3486/article/28/2015-01-01"/>
<FRBRuri value="http://www.legislation.gov.uk/uksi/2014/3486/2015-01-01"/>
<FRBRdate date="2015-01-01" name="validFrom"/>
<FRBRauthor href="#source"/>
<FRBRlanguage language="eng"/>
</FRBRExpression>
<FRBRManifestation>
<FRBRthis value="http://www.legislation.gov.uk/uksi/2014/3486/article/28/2015-01-01/data.akn"/>
<FRBRuri value="http://www.legislation.gov.uk/uksi/2014/3486/2015-01-01/data.akn"/>
<FRBRdate date="2024-11-04Z" name="transform"/>
<FRBRauthor href="http://www.legislation.gov.uk"/>
<FRBRformat value="application/akn+xml"/>
</FRBRManifestation>
</identification>
<classification source="#source">
<keyword value="banks and banking" showAs="BANKS AND BANKING" dictionary="http://www.legislation.gov.uk"/>
<keyword value="building societies" showAs="BUILDING SOCIETIES" dictionary="http://www.legislation.gov.uk"/>
</classification>
<lifecycle source="#source">
<eventRef date="2014-12-17" type="generation" eId="made-date" source="#source"/>
<eventRef date="2015-01-01" eId="coming-into-force-date-1" source="#source"/>
<eventRef date="2015-01-01" eId="effective-date-1" source="#source"/>
<eventRef date="2023-07-11" eId="effective-date-2" source="#source"/>
</lifecycle>
<analysis source="#source">
<restrictions source="#source">
<restriction refersTo="#e+w+s+ni" type="jurisdiction"/>
<restriction href="#body" refersTo="#e+w+s+ni" type="jurisdiction"/>
<restriction href="#article-28" refersTo="#e+w+s+ni" type="jurisdiction"/>
<restriction href="#part-6" refersTo="#e+w+s+ni" type="jurisdiction"/>
</restrictions>
</analysis>
<temporalData source="#source">
<temporalGroup eId="period1">
<timeInterval start="#effective-date-1" refersTo="#period-concept1"/>
</temporalGroup>
<temporalGroup eId="period2">
<timeInterval start="#effective-date-1" end="#effective-date-2" refersTo="#period-concept2"/>
</temporalGroup>
</temporalData>
<references source="#source">
<TLCOrganization eId="source" href="http://www.legislation.gov.uk/id/publisher/StatuteLawDatabase" showAs="Statute Law Database"/>
<passiveRef href="http://www.legislation.gov.uk/id/ukpga/2023/29" showAs="Financial Services and Markets Act 2023"/>
<TLCLocation eId="e+w+s+ni" href="/ontology/jurisdictions/uk.EnglandWalesScotlandNorthernIreland" showAs="England, Wales, Scotland, Northern Ireland"/>
<TLCConcept eId="period-concept1" href="/ontology/time/2015.01.01" showAs="since 2015-01-01"/>
<TLCConcept eId="period-concept2" href="/ontology/time/2015.01.01-2023.07.11" showAs="from 2015-01-01 until 2023-07-11"/>
</references>
<notes source="#source">
<note class="footnote" eId="f00040">
<p>
<ref href="http://www.legislation.gov.uk/id/ukpga/1985/66">1985 c.66</ref>
.
</p>
</note>
<note class="footnote" eId="f00041">
<p>
Section 51 has been amended by the Bankruptcy and Diligence
<abbr title="Et cetera" xml:lang="la">etc</abbr>
(Scotland) Act 2007 (c.66 (S.)), section 226(2), Schedule 1, paragraphs 1, 43; Schedule 6, Part 1; the Civil Partnership Act
<ref href="http://www.legislation.gov.uk/id/ukpga/2004/33">2004 (c.33)</ref>
, Schedule 28, paragraph 39, and
<ref href="http://www.legislation.gov.uk/id/uksi/2003/2109">S.I. 2003/2109</ref>
.
</p>
</note>
<note class="footnote" eId="f00042">
<p>
Schedule 3 was amended by the Enterprise Act
<ref href="http://www.legislation.gov.uk/id/ukpga/2002/40">2002 (c.40)</ref>
, section 251, and Schedule 26; the Pension Schemes Act
<ref href="http://www.legislation.gov.uk/id/ukpga/1993/48">1993 (c.48)</ref>
, Schedule 8, paragraph 17; the Financial Services (Banking Reform) Act
<ref href="http://www.legislation.gov.uk/id/ukpga/2013/33">2013 (c.33)</ref>
, section 13 and
<ref href="http://www.legislation.gov.uk/id/uksi/1987/2093">S.I. 1987/2093</ref>
.
</p>
</note>
<note class="footnote" eId="f00043">
<p>
Paragraph 9A was inserted by the Financial Services (Banking Reform) Act
<ref href="http://www.legislation.gov.uk/id/ukpga/2013/33">2013 (c.33)</ref>
, section 13(4).
</p>
</note>
<note class="footnote" eId="f00044">
<p>
<abbr class="Acronym" title="Official Journal">OJ</abbr>
no L173, 12/6/2014, p.190.
</p>
</note>
<note class="footnote" eId="f00045">
<p>
<abbr class="Acronym" title="Official Journal">OJ</abbr>
no L176, 27/6/2013, p.1. For corrigenda see
<abbr class="Acronym" title="Official Journal">OJ</abbr>
no L208, 2/8/2013 p.68 and
<abbr class="Acronym" title="Official Journal">OJ</abbr>
no L321, 30/11/2013 p. 6.
</p>
</note>
<note class="commentary I" eId="key-392b64cf2b3764926bf4fca1bb6cbf89">
<p>
Art. 28 in force at 1.1.2015, see
<ref href="http://www.legislation.gov.uk/id/uksi/2014/3486/article/1/2">art. 1(2)</ref>
</p>
</note>
</notes>
<proprietary xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" xmlns:ukm="http://www.legislation.gov.uk/namespaces/metadata" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:dct="http://purl.org/dc/terms/" xmlns:atom="http://www.w3.org/2005/Atom" source="#source">
<ukl:RestrictStartDate value="2015-01-01"/>
<ukl:RestrictEndDate value="2023-07-11"/>
<dc:identifier>http://www.legislation.gov.uk/uksi/2014/3486/article/28/2015-01-01</dc:identifier>
<dc:title>The Banks and Building Societies (Depositor Preference and Priorities) Order 2014</dc:title>
<dc:language>en</dc:language>
<dc:subject scheme="SIheading">BANKS AND BANKING</dc:subject>
<dc:subject scheme="SIheading">BUILDING SOCIETIES</dc:subject>
<dc:publisher>Statute Law Database</dc:publisher>
<dc:modified>2024-10-24</dc:modified>
<dc:contributor>Expert Participation</dc:contributor>
<dct:valid>2015-01-01</dct:valid>
<dc:description>This Order implements the obligation in Article 108 of Directive 2014/59/EU of the European Parliament and of the Council establishing a framework for the recovery and resolution of credit institutions and investment firms (OJ L 173, 12.6.2014, p.190) (“the Directive”) to ensure that both deposits which are eligible for compensation under the financial services compensation scheme (“eligible deposits”) and other deposits which would be eligible deposits but for the fact that they are made in branches of UK banks outside the EEA, are treated as preferential debts, and that eligible deposits are given a higher priority within the class of preferential debts than other deposits.</dc:description>
<atom:link rel="self" href="http://www.legislation.gov.uk/uksi/2014/3486/article/28/2015-01-01/data.xml" type="application/xml"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/resources" href="http://www.legislation.gov.uk/uksi/2014/3486/resources" title="More Resources"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/impacts" href="http://www.legislation.gov.uk/uksi/2014/3486/impacts" title="Impact Assessments"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/memorandum" href="http://www.legislation.gov.uk/uksi/2014/3486/memorandum" title="Explanatory Memorandum"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/memorandum/toc" href="http://www.legislation.gov.uk/uksi/2014/3486/memorandum/contents" title="Explanatory Memorandum Table of Contents"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/act" href="http://www.legislation.gov.uk/uksi/2014/3486/2015-01-01" title="whole act"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/introduction" href="http://www.legislation.gov.uk/uksi/2014/3486/introduction/2015-01-01" title="introduction"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/signature" href="http://www.legislation.gov.uk/uksi/2014/3486/signature/2015-01-01" title="signature"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/note" href="http://www.legislation.gov.uk/uksi/2014/3486/note/2015-01-01" title="note"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/body" href="http://www.legislation.gov.uk/uksi/2014/3486/body/2015-01-01" title="body"/>
<atom:link rel="alternate" type="application/rdf+xml" href="http://www.legislation.gov.uk/uksi/2014/3486/article/28/2015-01-01/data.rdf" title="RDF/XML"/>
<atom:link rel="alternate" type="application/akn+xml" href="http://www.legislation.gov.uk/uksi/2014/3486/article/28/2015-01-01/data.akn" title="AKN"/>
<atom:link rel="alternate" type="application/xhtml+xml" href="http://www.legislation.gov.uk/uksi/2014/3486/article/28/2015-01-01/data.xht" title="HTML snippet"/>
<atom:link rel="alternate" type="text/html" href="http://www.legislation.gov.uk/uksi/2014/3486/article/28/2015-01-01/data.htm" title="Website (XHTML) Default View"/>
<atom:link rel="alternate" type="text/csv" href="http://www.legislation.gov.uk/uksi/2014/3486/article/28/2015-01-01/data.csv" title="CSV"/>
<atom:link rel="alternate" type="application/pdf" href="http://www.legislation.gov.uk/uksi/2014/3486/article/28/2015-01-01/data.pdf" title="PDF"/>
<atom:link rel="alternate" type="application/akn+xhtml" href="http://www.legislation.gov.uk/uksi/2014/3486/article/28/2015-01-01/data.html" title="HTML5 snippet"/>
<atom:link rel="http://purl.org/dc/terms/tableOfContents" hreflang="en" href="http://www.legislation.gov.uk/uksi/2014/3486/contents/2015-01-01" title="Table of Contents"/>
<atom:link rel="http://purl.org/dc/terms/hasVersion" href="http://www.legislation.gov.uk/uksi/2014/3486/article/28/made" title="made"/>
<atom:link rel="http://purl.org/dc/terms/hasVersion" href="http://www.legislation.gov.uk/uksi/2014/3486/article/28" title="current"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/supersedes" href="http://www.legislation.gov.uk/id/ukdsi/2014/9780111123676" title="The Banks and Building Societies (Depositor Preference and Priorities) Order 2014"/>
<atom:link rel="up" href="http://www.legislation.gov.uk/uksi/2014/3486/2015-01-01" title="Entire legislation"/>
<atom:link rel="prev" href="http://www.legislation.gov.uk/uksi/2014/3486/article/27/2015-01-01" title="Provision; Article 27"/>
<atom:link rel="prevInForce" href="http://www.legislation.gov.uk/uksi/2014/3486/article/27/2015-01-01" title="Provision; Article 27"/>
<atom:link rel="next" href="http://www.legislation.gov.uk/uksi/2014/3486/article/29/2015-01-01" title="Provision; Article 29"/>
<atom:link rel="nextInForce" href="http://www.legislation.gov.uk/uksi/2014/3486/article/29/2015-01-01" title="Provision; Article 29"/>
<ukm:SecondaryMetadata>
<ukm:DocumentClassification>
<ukm:DocumentCategory Value="secondary"/>
<ukm:DocumentMainType Value="UnitedKingdomStatutoryInstrument"/>
<ukm:DocumentStatus Value="revised"/>
<ukm:DocumentMinorType Value="order"/>
</ukm:DocumentClassification>
<ukm:Year Value="2014"/>
<ukm:Number Value="3486"/>
<ukm:Made Date="2014-12-17"/>
<ukm:ComingIntoForce>
<ukm:DateTime Date="2015-01-01"/>
</ukm:ComingIntoForce>
<ukm:ISBN Value="9780111126523"/>
<ukm:UnappliedEffects>
<ukm:UnappliedEffect AffectedProvisions="Order" AffectedURI="http://www.legislation.gov.uk/id/uksi/2014/3486" RequiresApplied="true" AffectingProvisions="Sch. 1 Pt. 2" Modified="2024-10-31T12:34:08Z" AffectingNumber="29" Type="revoked" URI="http://www.legislation.gov.uk/id/effect/key-927651a15297e5e56712bc1f1235f74e" AffectingClass="UnitedKingdomPublicGeneralAct" AffectedNumber="3486" Row="322" AffectingYear="2023" EffectId="key-c0856fbc42328dcc2626bc60cd46f3a3" AffectingURI="http://www.legislation.gov.uk/id/ukpga/2023/29" AffectedClass="UnitedKingdomStatutoryInstrument" AffectedYear="2014">
<ukm:AffectedTitle>The Banks and Building Societies (Depositor Preference and Priorities) Order 2014</ukm:AffectedTitle>
<ukm:AffectedProvisions>Order</ukm:AffectedProvisions>
<ukm:AffectingTitle>Financial Services and Markets Act 2023</ukm:AffectingTitle>
<ukm:AffectingProvisions>
<ukm:Section Ref="schedule-1" URI="http://www.legislation.gov.uk/id/ukpga/2023/29/schedule/1">Sch. 1 </ukm:Section>
<ukm:Section Ref="schedule-1-part-2" URI="http://www.legislation.gov.uk/id/ukpga/2023/29/schedule/1/part/2">Pt. 2</ukm:Section>
</ukm:AffectingProvisions>
<ukm:Savings>
<ukm:Section Ref="section-1-4" URI="http://www.legislation.gov.uk/id/ukpga/2023/29/section/1/4">s. 1(4)</ukm:Section>
</ukm:Savings>
<ukm:CommencementAuthority>
<ukm:Section Ref="section-86-3" URI="http://www.legislation.gov.uk/id/ukpga/2023/29/section/86/3">s. 86(3)</ukm:Section>
</ukm:CommencementAuthority>
<ukm:InForceDates>
<ukm:InForce Applied="false" Prospective="true" Qualification=""/>
</ukm:InForceDates>
</ukm:UnappliedEffect>
</ukm:UnappliedEffects>
</ukm:SecondaryMetadata>
<ukm:Supersedes URI="http://www.legislation.gov.uk/id/ukdsi/2014/9780111123676">
<dc:title>The Banks and Building Societies (Depositor Preference and Priorities) Order 2014</dc:title>
<ukm:DocumentMainType Value="UnitedKingdomDraftStatutoryInstrument"/>
<ukm:Year Value="2014"/>
<ukm:ISBN Value="9780111123676"/>
</ukm:Supersedes>
<ukm:Notes>
<ukm:Note IdURI="http://www.legislation.gov.uk/id/uksi/2014/3486/notes"/>
<ukm:Alternatives>
<ukm:Alternative URI="http://www.legislation.gov.uk/uksi/2014/3486/pdfs/uksiem_20143486_en.pdf" Date="2015-01-05" Title="UK Explanatory Memorandum" Size="61218"/>
</ukm:Alternatives>
</ukm:Notes>
<ukm:OtherDocuments>
<ukm:OtherDocument URI="http://www.legislation.gov.uk/uksi/2014/3486/pdfs/uksiod_20143486_en.pdf" Date="2022-02-22" Title="Post Implementation Review" Size="83310"/>
</ukm:OtherDocuments>
<ukm:Alternatives>
<ukm:Alternative URI="http://www.legislation.gov.uk/uksi/2014/3486/pdfs/uksi_20143486_en.pdf" Date="2015-01-05" Size="134725"/>
</ukm:Alternatives>
<ukm:TranspositionNotes>
<ukm:TranspositionNote URI="http://www.legislation.gov.uk/uksi/2014/3486/pdfs/uksitn_20143486_en.pdf" Date="2015-01-05" Title="Transposition Note" Size="276736"/>
</ukm:TranspositionNotes>
<ukm:ImpactAssessments>
<ukm:ImpactAssessment URI="http://www.legislation.gov.uk/ukia/2014/400/pdfs/ukia_20140400_en.pdf" Date="2015-01-05" Title="The Banks and Building Societies (Depositor Preference and Priorities) Order 2014" Stage="Final" Department="HM Treasury" Year="2014" Number="400" Size="118000"/>
<ukm:ImpactAssessment URI="http://www.legislation.gov.uk/ukia/2014/401/pdfs/ukia_20140401_en.pdf" Date="2015-01-05" Title="The Banks and Building Societies (Depositor Preference and Priorities) Order 2014" Stage="Final" Department="HM Treasury" Year="2014" Number="401" Size="286123"/>
</ukm:ImpactAssessments>
<ukm:Statistics>
<ukm:TotalParagraphs Value="50"/>
<ukm:BodyParagraphs Value="50"/>
<ukm:ScheduleParagraphs Value="0"/>
<ukm:AttachmentParagraphs Value="0"/>
<ukm:TotalImages Value="0"/>
</ukm:Statistics>
</proprietary>
</meta>
<portionBody eId="body" period="#period1">
<part eId="part-6" period="#period1">
<num>PART 6</num>
<heading>Further amendments relating to Parts 2 to 5</heading>
<article eId="article-28" period="#period1">
<num>
<noteRef href="#key-392b64cf2b3764926bf4fca1bb6cbf89" marker="I1" class="commentary I"/>
28
</num>
<heading>The Bankruptcy (Scotland) Act 1985</heading>
<paragraph eId="article-28-1">
<num>1</num>
<content>
<p>
The Bankruptcy (Scotland) Act 1985
<noteRef href="#f00040" class="footnote" marker="40"/>
is amended as follows.
</p>
</content>
</paragraph>
<paragraph eId="article-28-2">
<num>2</num>
<intro>
<p>
In section 51 (order of priority in distribution)
<noteRef href="#f00041" class="footnote" marker="41"/>
</p>
</intro>
<subparagraph eId="article-28-2-a">
<num>a</num>
<intro>
<p>in subsection (1)—</p>
</intro>
<clause eId="article-28-2-a-i">
<num>i</num>
<content>
<p>for paragraph (e) substitute—</p>
<p class="BlockAmendment">
<mod>
<quotedStructure class="unknown unknown unknown double" startQuote="" endQuote="">
<subparagraph eId="d4e154">
<num>e</num>
<content>
<p>ordinary preferred debts (excluding any interest which has accrued thereon to the date of sequestration);</p>
</content>
</subparagraph>
<subparagraph eId="d4e160">
<num>ea</num>
<content>
<p>secondary preferred debts (excluding any interest which has accrued thereon to the date of sequestration);</p>
</content>
</subparagraph>
</quotedStructure>
</mod>
<inline name="AppendText">;</inline>
</p>
</content>
</clause>
<clause eId="article-28-2-a-ii">
<num>ii</num>
<content>
<p>in paragraph (g)(i), before “preferred” insert “ordinary”;</p>
</content>
</clause>
<clause eId="article-28-2-a-iii">
<num>iii</num>
<content>
<p>after paragraph (g)(i), insert—</p>
<p class="BlockAmendment">
<mod>
<quotedStructure class="unknown unknown unknown double" startQuote="" endQuote="">
<clause eId="d4e181">
<num>ia</num>
<content>
<p>the secondary preferred debts;</p>
</content>
</clause>
</quotedStructure>
</mod>
<inline name="AppendText">;</inline>
</p>
</content>
</clause>
</subparagraph>
<subparagraph eId="article-28-2-b">
<num>b</num>
<content>
<p>for subsection (2), substitute—</p>
<p class="BlockAmendment">
<mod>
<quotedStructure class="unknown unknown unknown double" startQuote="" endQuote="">
<paragraph eId="d4e196">
<num>2</num>
<intro>
<p>In this Act—</p>
</intro>
<subparagraph eId="d4e202">
<num>a</num>
<content>
<p>“preferred debt” means a debt listed in Part I of Schedule 3 to this Act,</p>
</content>
</subparagraph>
<subparagraph eId="d4e208">
<num>b</num>
<content>
<p>“ordinary preferred debt” means a debt within any of paragraphs 4 to 6B of Part I of Schedule 3 to this Act,</p>
</content>
</subparagraph>
<subparagraph eId="d4e214">
<num>c</num>
<content>
<p>“secondary preferred debt” means a debt within paragraph 6C or 6D of Part 1 of Schedule 3 to this Act, and</p>
</content>
</subparagraph>
<wrapUp>
<p>Part II of that Schedule shall have effect for the interpretation of Part I.</p>
</wrapUp>
</paragraph>
</quotedStructure>
</mod>
<inline name="AppendText">.</inline>
</p>
</content>
</subparagraph>
</paragraph>
<paragraph eId="article-28-3">
<num>3</num>
<intro>
<p>
In Schedule 3 (preferred debts)
<noteRef href="#f00042" class="footnote" marker="42"/>
</p>
</intro>
<subparagraph eId="article-28-3-a">
<num>a</num>
<content>
<p>after paragraph 6B, insert—</p>
<p class="BlockAmendment">
<mod>
<quotedStructure class="secondary unknown unknown double" startQuote="" endQuote="">
<hcontainer name="P1group" eId="d4e239">
<heading>Other deposits</heading>
<article eId="d4e242">
<num>6C</num>
<content>
<p>So much of any amount owed at the relevant date by the debtor to one or more eligible persons in respect of an eligible deposit as exceeds any compensation that would be payable in respect of the deposit under the Financial Services Compensation Scheme to that person or those persons.</p>
</content>
</article>
<article eId="d4e248">
<num>6D</num>
<intro>
<p>An amount owed at the relevant date by the debtor to one or more eligible persons in respect of a deposit that—</p>
</intro>
<subparagraph eId="d4e254">
<num>a</num>
<content>
<p>
was made through a non-EEA branch of a credit institution authorised by the competent authority of an
<abbr class="Acronym" title="European Economic Area">EEA</abbr>
state, and
</p>
</content>
</subparagraph>
<subparagraph eId="d4e263">
<num>b</num>
<content>
<p>
would have been an eligible deposit if it had been made through an
<abbr class="Acronym" title="European Economic Area">EEA</abbr>
branch of that credit institution.
</p>
</content>
</subparagraph>
</article>
</hcontainer>
</quotedStructure>
</mod>
<inline name="AppendText">;</inline>
</p>
</content>
</subparagraph>
<subparagraph eId="article-28-3-b">
<num>b</num>
<intro>
<p>
in paragraph 9A
<noteRef href="#f00043" class="footnote" marker="43"/>
</p>
</intro>
<clause eId="article-28-3-b-i">
<num>i</num>
<content>
<p>in sub-paragraph (1), for “paragraph 6B” substitute “paragraphs 6B to 6D”;</p>
</content>
</clause>
<clause eId="article-28-3-b-ii">
<num>ii</num>
<content>
<p>in sub-paragraph (2), for “this purpose” substitute “the purposes of those paragraphs and this paragraph”; and</p>
</content>
</clause>
<clause eId="article-28-3-b-iii">
<num>iii</num>
<content>
<p>after sub-paragraph (2), insert—</p>
<p class="BlockAmendment">
<mod>
<quotedStructure class="unknown unknown unknown double" startQuote="" endQuote="">
<paragraph eId="d4e301">
<num>3</num>
<intro>
<p>In paragraphs 6C and 6D, “eligible person” means—</p>
</intro>
<subparagraph eId="d4e307">
<num>a</num>
<content>
<p>an individual, or</p>
</content>
</subparagraph>
<subparagraph eId="d4e313">
<num>b</num>
<content>
<p>
a micro-enterprise, a small enterprise or a medium-sized enterprise, each of those terms having the meaning given in Article 2.1(107) of the Directive 2014/59/
<abbr class="Acronym" title="European Union">EU</abbr>
of 15th May 2014 establishing a framework for the recovery and resolution of credit institutions and investment firms
<noteRef href="#f00044" class="footnote" marker="44"/>
.
</p>
</content>
</subparagraph>
</paragraph>
<paragraph eId="d4e324">
<num>4</num>
<intro>
<p>In paragraph 6D—</p>
</intro>
<subparagraph eId="d4e330">
<num>a</num>
<content>
<p>“credit institution” has the meaning given in Article 4.1(1) of the capital requirements regulation;</p>
</content>
</subparagraph>
<subparagraph eId="d4e336">
<num>b</num>
<content>
<p>
<abbr class="Acronym" title="European Economic Area">EEA</abbr>
branch” means a branch, as defined in Article 4.1(17) of the capital requirements regulation, which is established in an
<abbr class="Acronym" title="European Economic Area">EEA</abbr>
state;
</p>
</content>
</subparagraph>
<subparagraph eId="d4e348">
<num>c</num>
<content>
<p>
“non-EEA branch” means a branch, as so defined, which is established in a country which is not an
<abbr class="Acronym" title="European Economic Area">EEA</abbr>
state;
</p>
</content>
</subparagraph>
<wrapUp>
<p>
and for this purpose “the capital requirements regulation” means Regulation (
<abbr class="Acronym" title="European Union">EU</abbr>
) No 575/2013 of the European Parliament and of the Council of 26th June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (
<abbr class="Acronym" title="European Union">EU</abbr>
) No 648/2012
<noteRef href="#f00045" class="footnote" marker="45"/>
.
</p>
</wrapUp>
</paragraph>
</quotedStructure>
</mod>
<inline name="AppendText">.</inline>
</p>
</content>
</clause>
</subparagraph>
</paragraph>
</article>
</part>
</portionBody>
</portion>
</akomaNtoso>