The Banks and Building Societies (Depositor Preference and Priorities) Order 2014
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Change 1
32 General mode of application of the companies winding up legislation
(1) Part 1 of Schedule 15 to the Building Societies Act 1986 (general mode of application) is amended as follows. (2) After paragraph 1 insert— 1A. In this Schedule— “deposit” means rights of the kind described in— paragraph 22 of Schedule 2 to the Financial Services and Markets Act 2000 (deposits); or section 1(2)(b) of the Dormant Bank and Building Society Accounts Act 2008 (balances transferred under that Act to authorised reclaim fund); and “relevant deposit” means— an “eligible deposit” within the meaning given by paragraph 15C(1) of Schedule 6 to the Insolvency Act 1986 (categories of preferential debts) or a deposit of the kind mentioned in paragraph 15BB of that Schedule; or an “eligible deposit” within the meaning given by paragraph 21(1) of Schedule 4 to the Insolvency (Northern Ireland) Order 1989 (categories of preferential debts) or a deposit of the kind mentioned in paragraph 20 of that Schedule. . (3) In paragraph 3(2), after paragraph (aa) insert— (ab) a reference to the debts of a company includes a reference to sums due to shareholding members of a building society in respect of deposits; .
32 General mode of application of the companies winding up legislation
(1) Part 1 of Schedule 15 to the Building Societies Act 1986 (general mode of application) is amended as follows. (2) After paragraph 1 insert— 1A. In this Schedule— “deposit” means rights of the kind described in— paragraph 22 of Schedule 2 to the Financial Services and Markets Act 2000 (deposits); or section 1(2)(b) of the Dormant Bank and Building Society Accounts Act 2008 (balances transferred under that Act to authorised reclaim fund); and “relevant deposit” means— an “eligible deposit” within the meaning given by paragraph 15C(1) of Schedule 6 to the Insolvency Act 1986 (categories of preferential debts) or a deposit of the kind mentioned in paragraph 15BB of that Schedule; or an “eligible deposit” within the meaning given by paragraph 21(1) of Schedule 4 to the Insolvency (Northern Ireland) Order 1989 (categories of preferential debts) or a deposit of the kind mentioned in paragraph 20 of that Schedule. . (3) In paragraph 3(2), after paragraph (aa) insert— (ab) a reference to the debts of a company includes a reference to sums due to shareholding members of a building society in respect of deposits; .
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