{
  "url": "https://openlegislation.uk/insolvency-act-1986/section-416",
  "json_url": "https://openlegislation.uk/insolvency-act-1986/section-416.json",
  "legislation": "ukpga/1986/45",
  "legislation_title": "Insolvency Act 1986",
  "legislation_url": "https://openlegislation.uk/insolvency-act-1986",
  "path": "section/416",
  "kind": "section",
  "number": "416",
  "heading": "Monetary limits (companies winding up).",
  "text": "(1) The Secretary of State may by order in a statutory instrument increase or reduce any of the money sums for the time being specified in the following provisions in the first Group of Parts—\nsection 117(2) (amount of company’s share capital determining whether county court has jurisdiction to wind it up);\nsection 120(3) (the equivalent as respects sheriff court jurisdiction in Scotland);\nsection 123(1)(a) (minimum debt for service of demand on company by unpaid creditor);\nsection 184(3) (minimum value of judgment, affecting sheriff’s duties on levying execution);\nsection 206(1)(a) and (b) (minimum value of company property concealed or fraudulently removed, affecting criminal liability of company’s officer).\n(2) An order under this section may contain such transitional provisions as may appear to the Secretary of State necessary or expedient.\n(3) No order under this section increasing or reducing any of the money sums for the time being specified in section 117(2), 120(3) or 123(1)(a) shall be made unless a draft of the order has been laid before and approved by a resolution of each House of Parliament.\n(4) A statutory instrument containing an order under this section, other than an order to which subsection (3) applies, is subject to annulment in pursuance of a resolution of either House of Parliament.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "C",
      "label": "C1",
      "text": "S. 416 applied in part (with modifications) (4.1.2024) by S.I. 2021/716, Sch. 1 para. 3 (as amended by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 20)"
    },
    {
      "type": "C",
      "label": "C2",
      "text": "S. 416(1)(4) applied (with modifications) (6.4.2001) by S.S.I. 2001/128, reg. 4(1), Sch. 2"
    },
    {
      "type": "C",
      "label": "C3",
      "text": "S. 416(1) modified (6.4.2001) by S.S.I. 2001/128, reg. 4(2), Sch. 3"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1986/45/section/416",
    "retrieved_at": "2026-10-29T09:55:00.443447+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}