# The Insolvency (Northern Ireland) Order 1989, Article 150ZZA: Non-preferential debts of financial institutions


(1) This Article applies in the winding up of a company that is a relevant financial institution.
(2) The company’s ordinary non-preferential debts are to be paid in priority to its secondary non-preferential debts.
(3) The company’s secondary non-preferential debts—
(a) are to be paid in priority to its tertiary non-preferential debts, and
(b) rank equally among themselves after the ordinary non-preferential debts and are to be paid in full, unless the assets are insufficient to meet them, in which case they abate in equal proportions.
(4) See Article 347A for definitions relevant to this Article.

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Source: https://www.legislation.gov.uk/nisi/1989/2405/article/150ZZA (the official version)
Page: https://openlegislation.uk/insolvency-northern-ireland-order-1989/article-150ZZA
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.