PART 6Further amendments relating to Parts 2 to 5
Housing and Regeneration Act 2008I130
1
The Housing and Regeneration Act 200847 is amended as follows.
2
In section 152(4) (proposals)—
a
omit the “or” at the end of paragraph (a);
b
after paragraph (a) insert—
aa
an ordinary preferential debt being paid otherwise than in priority to a secondary preferential debt,
c
in paragraph (b), for “a preferential debt” substitute “an ordinary preferential debt”;
d
at the end of paragraph (b), insert—
or
c
a preferential creditor (PC1) being paid a smaller proportion of a secondary preferential debt than another preferential creditor (PC2) (unless PC2 consents).
3
In section 275 (general)48, for ““preferential creditor” and “preferential debtor”” substitute ““preferential creditor”, “preferential debt”, “ordinary preferential debt” and “secondary preferential debt””.
4
In the Table in section 276 (index of defined terms), insert the following entries at the appropriate place—
Ordinary preferential debt
Section 275
Secondary preferential debt
Section 275