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
30 Housing and Regeneration Act 2008
(1) The Housing and Regeneration Act 2008 is amended as follows. (2) In section 152(4) (proposals)— (a) omit the “or” at the end of paragraph (a); (b) after paragraph (a) insert— (aa) an ordinary preferential debt being paid otherwise than in priority to a secondary preferential debt, ; (c) in paragraph (b), for “a preferential debt” substitute “an ordinary preferential debt”; (d) at the end of paragraph (b), insert— or (c) a preferential creditor (PC1) being paid a smaller proportion of a secondary preferential debt than another preferential creditor (PC2) (unless PC2 consents). (3) In section 275 (general), for ““preferential creditor” and “preferential debtor”” substitute ““preferential creditor”, “preferential debt”, “ordinary preferential debt” and “secondary preferential debt””. (4) In the Table in section 276 (index of defined terms), insert the following entries at the appropriate place— Ordinary preferential debt | Section 275 Secondary preferential debt | Section 275
30 Housing and Regeneration Act 2008
(1) The Housing and Regeneration Act 2008 is amended as follows. (2) In section 152(4) (proposals)— (a) omit the “or” at the end of paragraph (a); (b) after paragraph (a) insert— (aa) an ordinary preferential debt being paid otherwise than in priority to a secondary preferential debt, ; (c) in paragraph (b), for “a preferential debt” substitute “an ordinary preferential debt”; (d) at the end of paragraph (b), insert— or (c) a preferential creditor (PC1) being paid a smaller proportion of a secondary preferential debt than another preferential creditor (PC2) (unless PC2 consents). (3) In section 275 (general), for ““preferential creditor” and “preferential debtor”” substitute ““preferential creditor”, “preferential debt”, “ordinary preferential debt” and “secondary preferential debt””. (4) In the Table in section 276 (index of defined terms), insert the following entries at the appropriate place— Ordinary preferential debt | Section 275 Secondary preferential debt | Section 275
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Who it helps, what it costs, what it fixes. It is what persuades people to support it.
How this law is officially changed
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