The Insolvency (Fees) (Amendment No. 2) Order (Northern Ireland) 2011

Document Number:2011 No. 390
Coming into force:Coming into force on the 04/11/2011
 
FREE EXCERPT

Order laid before the Assembly under Article 361(1) of the Insolvency (Northern Ireland) Order 1989 , and subject to affirmative resolution procedure of the Assembly

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(1) and (3) of the Insolvency (Northern Ireland) Order 1989(2).

Citation and commencement

  1. This Order may be cited as the Insolvency (Fees) (Amendment No. 2) Order (Northern Ireland) 2011 and comes into operation on 31 st January 2012.

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

  2. Subject to article 6 , the Insolvency (Fees) Order (Northern Ireland) 2006(3) is amended in accordance with articles 3 , 4 and 5.

    Fees payable to an insolvency practitioner appointed under Article 247

  3. In article 5 for “£345” substitute “£450”.

    Reduction and refund of fees – individual voluntary arrangement following bankruptcy

  4. In article 6 for “£462.50” substitute “£525”.

    Fees payable in connection with bankruptcies, debt relief orders, individual voluntary arrangements, deeds of arrangement and winding up

  5. In Schedule 2 , in paragraph 2 , in the Table of Fees—

    (a) in relation to the fee designated as B1 , for “£925” substitute “£1 ,050”;

    (b) for the fee designated as B2 substitute—

    0% of the first £2 ,000

    100% of the next £1 ,700 75% of the next £1 ,500

    15% of the next £396 ,000

    1% of the remainder, subject to a maximum of £80 ,000”;

    (c) in relation to the fee designated as W1 , for “£1 ,615” substitute “£1 ,800”;

    (d) for the fee designated as W2 substitute—

    0% of the first £2 ,000

    100% of the next £1 ,700

    75% of the next £1 ,500

    15% of the next £396 ,000

    1% of the remainder, subject to a maximum of £80 ,000”.

    Transitional provisions

  6. —(1) The amendments made by articles 3 to 5 apply as set out in paragraphs (2) to (4).

    (2) The amendment made by article 3 only applies to reports submitted to the court in respect of debtors’ petitions presented on or after 31 st January 2012.

    (3) The amendment made by article 4 only applies to petitions presented on or after 31 st January 2012.

    (4) The amendments made by article 5 only apply in respect of bankruptcy and winding-up orders made on or after 31 st January 2012.

    Sealed with the Official Seal of the Department...

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