Schedule 17, paragraph 55(3)

Any of the following shall be treated for the purpose of paragraph 11(a) of Schedule B1 to the 1986 Act (or Article 21(1)(a) of the 1989 Order) as unable to pay its debts— a company or partnership in default on an obligation to pay a sum due and payable under an agreement, and an authorised deposit taker in default on an obligation to pay a sum due and payable in respect of a relevant deposit.

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