The Banks and Building Societies (Priorities on Insolvency) Order 2018 No. 1244

PART 6 U.K. Amendments of Insolvent Partnerships Order (Northern Ireland) 1995

36.—(1) Schedule 2 (modified provisions of Schedule B1 to the 1989 Order (administration) as applied by Article 6)(1), is amended as follows. U.K.

(2) In paragraph 31, in modified paragraph 66(2), for “Article 149(1) and (2)(a)” substitute “Article 149(1), (1A), (1B), and (3) and Article 150ZZA”.

(3) In paragraph 35, in modified Article 74(1)—

(a) in sub-paragraph (c) omit the final “or”;

(b) in sub-paragraph (d) at the end insert—

“or

(e) if the company is a relevant financial institution (see Article 347A), any non-preferential debt is to be paid otherwise than in accordance with the rules in Article 150ZZA(2) or (3).”.

Commencement Information

I1 Art. 36 in force at 19.12.2018, see art. 1(2)

(1)

Schedule 2 was substituted by S.R. 2006 and amended by S.R. 2006 No. 515 and S.I. 2014/3486.