Article 20 Categories of preferential debts

Article 346 of the Insolvency (Northern Ireland) Order 1989 (categories of preferential debts)^f1 is amended as follows.

In paragraph (1), after “steel production” insert “; deposits covered by the Financial Services Compensation Scheme; other deposits”.

After paragraph (1), insert—

“(1A)

A reference in this Order to the “ordinary preferential debts” of a company or an individual is to the preferential debts listed in any of paragraphs 8 to 18 of Schedule 4 to this Order.

(1B)

A reference in this Order to the “secondary preferential debts” of a company or an individual is to the preferential debts listed in paragraphs 19 or 20 of Schedule 4 to this Order.”.