Paragraph 23 C1F1
Paragraph 65 is modified so as to read as follows—
“65.(1)The administrator of a partnership may make a distribution to a creditor of the partnership.
(2)F2Section 175(1), (1A), (1B), and (3) and section 176AZA shall apply in relation to a distribution under this paragraph as it applies in relation to a winding up.
(3)A payment may not be made by way of distribution under this paragraph to a creditor of the partnership who is neither secured nor preferential unless the court gives permission.”.
Annotations
Textual amendments
- F1
Sch. 2 substituted (1.7.2005) by The Insolvent Partnerships (Amendment) Order 2005 (S.I. 2005/1516), art. 1(1), Sch. 1 (with art. 2)
- F2
Words in Sch. 2 para. 23 substituted (19.12.2018) by The Banks and Building Societies (Priorities on Insolvency) Order 2018 (revoked) 2018 (S.I. 2018/1244), arts. 1(2), 19(2) (with art. 3)
Modifications
- C1
Sch. 2 para. 23 modified (8.7.2021) by The Payment and Electronic Money Institution Insolvency Regulations 2021 (S.I. 2021/716), reg. 2, Sch. 2 paras. 3-6 (with reg. 5 (as amended (4.1.2024) by S.I. 2023/1399, regs. 1(2), 4))