The Insolvency (Deposits) (Amendment) Order (Northern Ireland) 2011

Nº documento:2011 No. 391
Fecha Entrada en Vigor:Coming into force on the 04/11/2011
 
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Statutory Rules of Northern Ireland

Insolvency

Made

4 th November 2011

Coming into operation

31 st January 2012

The Department of Enterprise, Trade and Investment (1) , with the concurrence of the Department of Finance and Personnel, makes the following Order in exercise of the powers conferred by Article 361(2) and (3) of the Insolvency (Northern Ireland) Order 1989 (2).

Citation and commencement

  1. This Order may be cited as the Insolvency (Deposits) (Amendment) Order (Northern Ireland) 2011 and comes into operation on 31 st January 2012.

    Amendment of the Insolvency (Deposits) Order (Northern Ireland) 2006

  2. —(1) Subject to article 3 , the Insolvency (Deposits) Order (Northern Ireland) 2006 (3) is amended in accordance with paragraph (2).

    (2) In article 4(1) (deposits – winding up by the High Court and bankruptcy) , in the definition of “appropriate deposit” —

    (a) in paragraph (a) , for “£690” substitute “£1 ,165”;

    (b) in paragraph (b) , for “£345” substitute “£525”; and

    (c) in paragraph (c) , for “£415” substitute “£700”.

    Transitional provisions

  3. The amendments made by article 2 only apply to petitions presented on or after 31 st January 2012.

    Sealed with the Official Seal of the Department of Enterprise, Trade and Investment on 4 th November 2011.

    Michael J Bohill

    A senior officer of the

    Department of Enterprise, Trade and Investment

    The Department of Finance and Personnel concurs.

    Sealed with the Official Seal of the Department of Finance and Personnel on 4 th November 2011.

    Michael Daly

    A senior officer of the

    Department of Finance and Personnel

    EXPLANATORY NOTE

    (This note is not part of the Order)

    This Order amends the Insolvency (Deposits) Order (Northern Ireland) 2006 (S.R. 2006 No. 55) (“the principal Order”).

    Article 2 increases the amount of the deposits payable pursuant to article 4 of the principal Order on presenting a winding-up petition or a bankruptcy petition. In the case of a winding-up petition the amount of the deposit is increased to £1 ,165. In the case of a bankruptcy...

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