# The Banks and Building Societies (Depositor Preference and Priorities) Order 2014, Article 8: Categories of preferential debts


(1) Section 386 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”.

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Source: https://www.legislation.gov.uk/ukdsi/2014/9780111123676/article/8 (the official version)
Page: https://openlegislation.uk/draft-banks-and-building-societies-depositor-preference-and-priorities-order-2014/article-8
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.