Article 25 Amendments of Schedule 2 to the Insolvent Partnerships Order (Northern Ireland) 1995

omit the “or” at the end of sub-paragraph (b);

after sub-paragraph (b) insert—

“(bb)

would result in an ordinary preferential debt of the partnership being paid otherwise than in priority to its secondary preferential debts,”;

in sub-paragraph (c), for “his debt” substitute “an ordinary preferential debt”;

at the end of sub-paragraph (c), insert—

“or

(d)

would result in one preferential creditor being paid a smaller proportion of a secondary preferential debt than another.”.