Regulation 3 Amendment of the principal Regulations

In regulation 2 of the principal Regulations (interpretation) after the definition of “the 1985 Act”, the word “and,” shall be omitted and there shall be inserted–

• ““enactment” includes an enactment comprised in subordinate legislation;

• “expenses of realisation” means any outlays incurred by the permanent trustee in realising the debtor’s estate which in the course of normal business practice are deducted from the price payable to him;

• “statutory fee” means any fee payable under an enactment;

• “trading expenses” means any outlays incurred by the permanent trustee in the carrying on of any business of the debtor;”.