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41. In section 80 of the Housing (Scotland) Act 2010 (proposals: formulation)(1)—
(a)in subsection (5)—
(i)omit the “or” after paragraph (b), and
(ii)after paragraph (c), insert—
“or
(d)where the debtor is a relevant financial institution—
(i)secondary non-preferential debts being paid before ordinary non-preferential debts,
(ii)tertiary non-preferential debts being paid before secondary non-preferential debts, or
(iii)creditors being paid different proportions of secondary non-preferential debts (except where affected creditors agree to be paid a smaller proportion).”, and
(b)after subsection (5) insert—
“(6) In this section—
“ordinary non-preferential debts” has the meaning given by section 129(1)(g) of the Bankruptcy (Scotland) Act 2016;
“secondary non-preferential debts” and “tertiary non-preferential debts” have the meanings given by section 129A of the Bankruptcy (Scotland) Act 2016.”.
2010 asp 17; section 80 was amended by S.I. 2013/496 and S.I. 2014/3486.
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