Paragraph 2 Interpretation

In this Schedule—

• “actual treatment” means the treatment pre-transfer creditors have received, are receiving or are likely to receive if no (or no further) compensation is paid;

• “assessment notice” means a notice issued by the independent valuer in accordance with paragraph 4 or 10 of this Schedule;

• “insolvency treatment” means the treatment which pre-transfer creditors would have received had Dunfermline entered insolvency^f1 immediately before the relevant time;

• “relevant time” means 8am on 30 March 2009, which is the time the Transfer Instrument came into force;

• “remaining creditors” has the meaning given in paragraph 5(b);

• “transferred creditors” has the meaning given in paragraph 5(a).