Paragraph 3

For paragraphs (a), (b) and (c) of subsection (10) there shall be substituted the following paragraphs:

“(a)

in relation to Guernsey:

(i)

Titres II to V of the Law entitled “Loi ayant rapport aux Debiteurs et a la Renonciation” of 1929;

(ii)

the Ordinance entitled “Ordonnance relative a la Renonciation” of 1929;

(iii)

articles LXXI to LXXXI of the Law entitled “Loi relative aux Societes Anonymes ou a Responsabilite Limitee” of 1908;

(iv)

sections 1, 3(3) and 4(2) of the Law of Property (Miscellaneous Provisions) (Guernsey) Law 1979;

(v)

the Preferred Debts (Guernsey) Law 1983;

(vi)

sections 12 and 32 to 39 of the Insurance Business (Guernsey) Law 1986;

(vii)

the rules of the customary law of Guernsey concerning persons who are unable to pay their judgment debts;

(viii)

any enactment for the time being in force in Guernsey which amends, modifies, supplements or replaces any of those rules or provisions;

(b)

in relation to Alderney:

(i)

Part I of the Companies (Amendment) (Alderney) Law 1962;

(ii)

the Preferred Debts (Guernsey) Law 1983;

(iii)

sections 12, 32 to 39, 68(2) and 68(5) of the Insurance Business (Guernsey) Law 1986;

(iv)

the rules of the customary law of Alderney concerning persons who are unable to pay their judgment debts;

(v)

any enactment for the time being in force in Alderney which amends, modifies, supplements or replaces any of those rules or provisions;

(c)

in relation to Sark:

(i)

the rules of the customary law of Sark concerning persons who are unable to pay their judgment debts;

(ii)

any enactment for the time being in force in Sark which amends, modifies, supplements or replaces any of those rules;”.