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
8 Categories of preferential debts
(1) Section 386 of the Insolvency Act 1986 (categories of preferential debts) is amended as follows. (2) In subsection (1), after “Compensation Scheme”, insert “; other deposits”. (3) After subsection (1), insert— (1A) A reference in this Act to the “ordinary preferential debts” of a company or an individual is to the preferential debts listed in any of paragraphs 8 to 15B of Schedule 6 to this Act. (1B) A reference in this Act to the “secondary preferential debts” of a company or an individual is to the preferential debts listed in paragraph 15BA or 15BB of Schedule 6 to this Act. . (4) In subsection (2), for “that Schedule” substitute “Schedule 6”.
8 Categories of preferential debts
(1) Section 386 of the Insolvency Act 1986 (categories of preferential debts) is amended as follows. (2) In subsection (1), after “Compensation Scheme”, insert “; other deposits”. (3) After subsection (1), insert— (1A) A reference in this Act to the “ordinary preferential debts” of a company or an individual is to the preferential debts listed in any of paragraphs 8 to 15B of Schedule 6 to this Act. (1B) A reference in this Act to the “secondary preferential debts” of a company or an individual is to the preferential debts listed in paragraph 15BA or 15BB of Schedule 6 to this Act. . (4) In subsection (2), for “that Schedule” substitute “Schedule 6”.
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