PART 2Amendment of Primary Legislation, Scottish Legislation and Northern Ireland Legislation

Insolvency (Northern Ireland) Order 19892

1

Schedule 4 to the Insolvency (Northern Ireland) Order 19894 (the categories of preferential debts) is amended as follows.

2

In paragraph 20 (category 8: other deposits)—

a

in sub-paragraph (a)—

i

for “non-EEA” substitute “non-UK”;

ii

for “an EEA state” substitute “the United Kingdom”;

b

in sub-paragraph (b), for “an EEA” substitute “a UK”.

3

In paragraph 21 (interpretation for categories 6A, 7 and 8)—

a

in sub-paragraph (3), for paragraph (b) substitute—

b

any micro, small or medium-sized enterprise, as defined with regard to the annual turnover criterion referred to in Article 2(1) of the Annex to Commission Recommendation 2003/361/EC.

b

in sub-paragraph (4), for paragraphs (b) and (c) substitute—

b

“non-UK branch” means a branch, as defined in Article 4(1)(17) of the capital requirements regulation, which is established outside the United Kingdom;

c

“UK branch” means a branch, as so defined, which is established in the United Kingdom;

c

for the words after sub-paragraph (4)(c) substitute—

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