# The Banks and Building Societies (Depositor Preference and Priorities) Order 2014, Article 29: Housing Act 1996


(1) The Housing Act 1996 is amended as follows.
(2) In section 44(4) (proposals as to ownership and management of landlord’s land)—
(a) omit the “or” at the end of paragraph (a);
(b) after paragraph (a) insert—
“(aa) an ordinary preferential debt of the landlord is to be paid otherwise than in priority to any secondary preferential debts that the landlord may have,”;
(c) in paragraph (b), for “his preferential debt” substitute “an ordinary preferential debt”;
(d) at the end of paragraph (b), insert—
“or
(c) a preferential creditor is to be paid a smaller proportion of a secondary preferential debt than another preferential creditor, except with the concurrence of the creditor concerned.”;
(e) after “references to preferential debts” insert “, ordinary preferential debts, secondary preferential debts”.

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Source: https://www.legislation.gov.uk/ukdsi/2014/9780111123676/article/29 (the official version)
Page: https://openlegislation.uk/draft-banks-and-building-societies-depositor-preference-and-priorities-order-2014/article-29
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.