Part XII Preferential [and Non-preferential] Debts in Company and Individual Insolvency (ss 386-[387A)
Part XII Preferential [and Non-preferential] Debts in Company and Individual Insolvency (ss 386-[387A)

386 Categories of preferential debts

(1)     A reference in this Act to the preferential debts of a company or an individual is to the debts listed in Schedule 6 to this Act [(contributions to occupational pension schemes; remuneration, &c of employees; levies on coal and steel production[; debts owed to the Financial Services Compensation Scheme][; deposits covered by Financial Services Compensation Scheme][; other deposits])]; and references to preferential creditors are to be read accordingly.

[(1A)     A reference in this Act to the “ordinary preferential debts” of a company or an individual is to the preferential debts listed in any of paragraphs 8 to 15B of Schedule 6 to this Act.

(1B)     A reference in this Act to the “secondary preferential debts” of a company or an individual is to the preferential debts listed in paragraph 15BA or 15BB of Schedule 6 to this Act.]

(2)     In [Schedule 6] “the debtor” means the company or the individual concerned.

(3)     Schedule 6 is to be read with [Schedule 4 to the Pension Schemes Act 1993] (occupational pension scheme contributions).


387 "The relevant date"

(1)     This section explains references in Schedule 6 to the relevant date (being the date which determines the existence and amount of a preferential debt).

(2)     For the purposes of section 4 in Part I ([consideration of] company voluntary arrangement), the relevant date in relation to a company which is not being wound up is—

[(a)     if the company is in administration, the date on which it entered administration, and