Article 8 Categories of preferential debtsI1

United Kingdom

(1)

Section 386^f1 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”.

Annotations

Commencement

I1: Art. 8 in force at 1.1.2015, see art. 1(2)

Footnotes

f1: Section 386 was amended by the Enterprise Act 2002 (c.40), section 251(3), the Financial Services (Banking Reform) Act 2013 (c.33), section 13, and the Pension Schemes Act 1993 (c.48), Schedule 8, paragraph 18.