SCHEDULE 3SPREFERRED DEBTS

PART 1SList of preferred debts

Other depositsS

7SSo much of any amount owed at the relevant date by the debtor to one or more eligible persons in respect of an eligible deposit as exceeds any compensation that would be payable in respect of the deposit under the Financial Services Compensation Scheme to that person or those persons.

8SAn amount owed at the relevant date by the debtor to one or more eligible persons in respect of a deposit which—

(a)was made through a [F1non-UK] branch of a credit institution authorised by the competent authority of [F2the United Kingdom], and

(b)would have been an eligible deposit if it had been made through [F3a UK] branch of that credit institution.