# The Insolvency (Monetary Limits) (Amendment) Order (Northern Ireland) 2016, Note: Explanatory note


(This note is not part of the Order)
This Order makes amendments to the Insolvency (Monetary Limits) Order (Northern Ireland) 1991 (“the Principal Order”).
Article 3 increases the maximum amount of debt and maximum total value of property which a person may have in order to be eligible for a debt relief order. Property excludes a debtor’s domestic motor vehicle up to a value of £1,000 (see Rule 5A, paragraph 14 of the Insolvency Rules (Northern Ireland) 1991.
Article 4 provides that the increases apply only to applications made to the official receiver on or after the day on which this Order comes into operation.

---
Source: https://www.legislation.gov.uk/nidsr/2016/9780338006295/note (the official version)
Page: https://openlegislation.uk/draft-insolvency-monetary-limits-amendment-order-northern-ireland-2016/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.