SCHEDULE 2APPLICATION AND MODIFICATION OF CERTAIN ENACTMENTS

Commercial paper

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A reference to commercial paper in Schedule A1 or Schedule 2A to the Insolvency Act 198634 includes a reference to uncertificated units of an eligible debt security where the issue of the units corresponds, in accordance with the current terms of issue of the security, to the issue of commercial paper within the meaning of article 9(3) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 200135.