PART 4Amendments of Insolvency (Northern Ireland) Order 1989
Administration and preferential debts22
1
Paragraph 74(1) of Schedule B1 to the Insolvency (Northern Ireland) Order 1989 (protection for preferential creditors)29 is amended as follows.
2
Omit the “or” at the end of paragraph (b).
3
After paragraph (b) insert—
bb
would result in an ordinary preferential debt of the company being paid otherwise than in priority to its secondary preferential debts,
4
In paragraph (c), for “his debt” substitute “an ordinary preferential debt”.
5
At the end of paragraph (c), insert—
or
d
would result in one preferential creditor of the company being paid a smaller proportion of a secondary preferential debt than another.