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Paragraph 154

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

In paragraph 1 of Schedule 6 to the Insolvency Act 1986 (the categories of preferential debts)—

(a)

for “emoluments” substitute “ taxable earnings (as defined by section 10 of the Income Tax (Earnings and Pensions) Act 2003) ”; and

(b)

for “section 203 of the Income and Corporation Taxes Act 1988 (pay as you earn)” substitute “ PAYE regulations ”.