Section 386

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 ; certain HMRC debts); and references to preferential creditors are to be read accordingly. 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. 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 , 15BB or 15D of Schedule 6 to this Act. In Schedule 6 “the debtor” means the company or the individual concerned. Schedule 6 is to be read with Schedule 4 to the Pension Schemes Act 1993 (occupational pension scheme contributions).

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Source: legislation.gov.uk · retrieved 2026-09-04