Article 26 Amendments of Schedule 4 to the Insolvent Partnerships Order (Northern Ireland) 1995

Paragraph 23 of Schedule 4 to the Insolvent Partnerships Order (Northern Ireland) 1995 (provisions of the Order which apply with modifications for the purposes of Article 8 to winding up of insolvent partnership on creditor’s petition where concurrent petitions are presented against one or more members)^f1 is amended as follows.

In modified Article 149A(2) (priority of debts in joint estate), for sub-paragraph (a) substitute—

“(a)

the ordinary preferential debts;

(aa)

the secondary preferential debts;”.

In modified Articles 149A(4), 149A(5), 149A(6) and 149B(2), for “sub-paragraphs (a) and (b)” substitute “sub-paragraphs (a), (aa) and (b)”.

In modified Article 149B(1) (priority of debts in separate estate), for sub-paragraph (a) substitute—

“(a)

the ordinary preferential debts;

(aa)

the secondary preferential debts;”.