{
  "url": "https://openlegislation.uk/insolvency-northern-ireland-order-1989/schedule-B1/paragraph-66",
  "json_url": "https://openlegislation.uk/insolvency-northern-ireland-order-1989/schedule-B1/paragraph-66.json",
  "legislation": "nisi/1989/2405",
  "legislation_title": "The Insolvency (Northern Ireland) Order 1989",
  "legislation_url": "https://openlegislation.uk/insolvency-northern-ireland-order-1989",
  "path": "schedule/B1/paragraph/66",
  "kind": "paragraph",
  "number": "66",
  "heading": null,
  "text": "(1) If the assets of a company are sufficient to meet any debts or other liabilities payable under paragraph 65A in full, the administrator of the company may make a distribution to any other creditor of the company.\n(2) Articles 149 and 150ZZA shall apply in relation to a distribution under this paragraph as they apply in relation to a winding up.\n(3) A payment may not be made by way of distribution under this paragraph to a creditor of the company who is neither secured nor preferential unless the High Court gives permission.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Sch. B1 inserted (27.3.2006) by Insolvency (Northern Ireland) Order 2005 (S.I. 2005/1455 (N.I. 10)), arts. 1(3), 3(2), Sch. 1 (with art. 4); S.R. 2006/21, art. 2 (with S.R. 2006/22, arts. 2-7)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Sch. B1 para. 66(1) substituted (26.6.2020) by Corporate Insolvency and Governance Act 2020 (c. 12), s. 49(1), Sch. 7 para. 27(4) (with ss. 2(2), 5(2))"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Words in Sch. B1 para. 66(2) substituted (19.12.2018) by The Banks and Building Societies (Priorities on Insolvency) Order 2018 (S.I. 2018/1244), arts. 1(2), 31(2)(a) (with art. 3)"
    },
    {
      "type": "F",
      "label": "F4",
      "text": "Words in Sch. B1 para. 66(2) substituted (19.12.2018) by The Banks and Building Societies (Priorities on Insolvency) Order 2018 (S.I. 2018/1244), arts. 1(2), 31(2)(b) (with art. 3)"
    },
    {
      "type": "C",
      "label": "C1",
      "text": "Sch. B1 applied (with modifications) (4.1.2024) by S.I. 2021/716, Sch. 2A para. 6 (as inserted by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), reg. 1(2), Sch. 2)"
    },
    {
      "type": "C",
      "label": "C2",
      "text": "Sch. B1 para. 66(1) modified (06.03.2008) by The Regulated Covered Bonds Regulations 2008 (S.I. 2008/346), reg. 1(1), Sch. para. 9(2)(a)"
    },
    {
      "type": "C",
      "label": "C3",
      "text": "Sch. B1 para. 66 applied (with modifications) (4.1.2024) by S.I. 2021/716, reg. 37A (as inserted by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 12)"
    },
    {
      "type": "C",
      "label": "C4",
      "text": "Sch. B1 para. 66 applied (with modifications) (4.1.2024) by S.I. 2021/716, Sch. 2A para. 6 (as inserted by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), reg. 1(2), Sch. 2)"
    },
    {
      "type": "C",
      "label": "C5",
      "text": "Sch. B1 para. 66(2) applied by Financial Markets and Insolvency (Settlement Finality) Regulations 1999 (S.I. 1999/2979), reg. 14(5)(a)(i) (as substituted (1.10.2009) by Financial Markets and Insolvency (Settlement Finality) (Amendment) Regulations 2009 (S.I. 2009/1972), reg. 4(d)(ii))"
    }
  ],
  "outstanding_effects": [
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      "type": "omitted",
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    },
    {
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    {
      "type": "substituted for Sch. B1 para. 99(2)(3)",
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  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/nisi/1989/2405/schedule/B1/paragraph/66",
    "retrieved_at": "2026-10-29T04:47:04.938020+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}