PART 7Further Amendments relating to Parts 2 to 6
Housing and Regeneration Act 200840
1
The Housing and Regeneration Act 200850 is amended as follows.
2
In section 152 (proposals)51, in subsection (4)—
a
in paragraph (b), omit the final “or”;
b
after paragraph (c), insert—
or
d
if the registered provider is a relevant financial institution—
i
an ordinary non-preferential debt being paid otherwise than in priority to a secondary non-preferential debt,
ii
a secondary non-preferential debt being paid otherwise than in priority to a tertiary non-preferential debt, or
iii
a secondary non-preferential creditor (Creditor 1) being paid a smaller proportion of a secondary non-preferential debt than another secondary non-preferential creditor (Creditor 2) (unless Creditor 1 consents).
3
In section 275 (general)52, for “and “secondary preferential debt”” substitute “, “ordinary non-preferential debt”, “secondary preferential debt”, “secondary non-preferential debt”, “tertiary non-preferential debt” and “relevant financial institution””.
4
In section 276 (index of defined terms)53, in the table, insert the following entries at the appropriate places—
Ordinary non-preferential debt
Section 275
Relevant financial institution
Section 275
Secondary non-preferential debt
Section 275
Tertiary non-preferential debt
Section 275