The Banks and Building Societies (Depositor Preference and Priorities) Order 2014
Write the words of this act the way you think they should read. Solon shows your change as a redline against the published text and pins it to that exact text, so it can never be applied to wording you did not see.
Change 1
24 Amendments of Schedule 1 to the Insolvent Partnerships Order (Northern Ireland) 1995
(1) Schedule 1 to the Insolvent Partnerships Order (Northern Ireland) 1995 (modified provisions of Part 2 of the Order (company voluntary arrangements) as applied by Article 4) is amended as follows. (2) In modified Article 17(4) (decisions of meetings)— (a) omit the “or” at the end of sub-paragraph (a); (b) after sub-paragraph (a) insert— (aa) any ordinary preferential debt of the partnership is to be paid otherwise than in priority to any secondary preferential debts that it may have, ; (c) in sub-paragraph (b)— (i) for “a preferential debt”, substitute “an ordinary preferential debt”, and (ii) for “another”, substitute “another ordinary”; (d) at the end of sub-paragraph (b), insert— or (c) a preferential creditor of the partnership is to be paid an amount in respect of a secondary preferential debt that bears to that debt a smaller proportion than is borne to another secondary preferential debt by the amount that is to be paid in respect of that other debt. . (3) In modified Article 17(7) for “has” substitute “,”ordinary preferential debt”, and “secondary preferential debt” each has”.
24 Amendments of Schedule 1 to the Insolvent Partnerships Order (Northern Ireland) 1995
(1) Schedule 1 to the Insolvent Partnerships Order (Northern Ireland) 1995 (modified provisions of Part 2 of the Order (company voluntary arrangements) as applied by Article 4) is amended as follows. (2) In modified Article 17(4) (decisions of meetings)— (a) omit the “or” at the end of sub-paragraph (a); (b) after sub-paragraph (a) insert— (aa) any ordinary preferential debt of the partnership is to be paid otherwise than in priority to any secondary preferential debts that it may have, ; (c) in sub-paragraph (b)— (i) for “a preferential debt”, substitute “an ordinary preferential debt”, and (ii) for “another”, substitute “another ordinary”; (d) at the end of sub-paragraph (b), insert— or (c) a preferential creditor of the partnership is to be paid an amount in respect of a secondary preferential debt that bears to that debt a smaller proportion than is borne to another secondary preferential debt by the amount that is to be paid in respect of that other debt. . (3) In modified Article 17(7) for “has” substitute “,”ordinary preferential debt”, and “secondary preferential debt” each has”.
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