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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 28 December 2020 - onwards
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1428A. Priority of payments in a winding up

(1) In a winding up of a company that is an entity referred to in Regulation 2(1)(a) to (i) of the Bank Recovery and Resolution Regulations -

(a) the following shall be paid in priority to the claims of all unsecured creditors, and shall rank equally amongst themselves and with the debts referred to in section 621(2) -

(i) the part of eligible deposits up to the coverage level in Article 6 of Directive 2014/49/EU of the European Parliament and of the Council of 16 April 2014 [OJ No. L 173, 12.06.2014, p. 149.], and

(ii) deposit guarantee schemes that are subrogating to the rights and obligations of the holder or holders of the part of the eligible deposits referred to in subparagraph (i),

(b) the following shall be paid in priority to the claims of all unsecured creditors, but after those referred to in paragraph (a), and shall rank equally amongst themselves -

(i) the part of eligible deposits from natural persons and micro, small and medium-sized enterprises that exceeds the coverage

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