PART 6Further amendments relating to Parts 2 to 5
Housing Act 199629
1
The Housing Act 199646 is amended as follows.
2
In section 44(4) (proposals as to ownership and management of landlord’s land)—
a
omit the “or” at the end of paragraph (a);
b
after paragraph (a) insert—
aa
an ordinary preferential debt of the landlord is to be paid otherwise than in priority to any secondary preferential debts that the landlord may have,
c
in paragraph (b), for “his preferential debt” substitute “an ordinary preferential debt”;
d
at the end of paragraph (b), insert—
or
c
a preferential creditor is to be paid a smaller proportion of a secondary preferential debt than another preferential creditor, except with the concurrence of the creditor concerned.
e
after “references to preferential debts” insert “, ordinary preferential debts, secondary preferential debts”.