OpenLegislation

The Insolvency (Deposits) (Amendment) Order (Northern Ireland) 2009

S.R. 2009/203 · Made 20 May 2009

Original text. legislation.gov.uk does not revise statutory instruments, so later amendments are not shown here. Changes made to it are listed under each provision when known.

Insolvency

Made 20th May 2009

Coming into operation 1st October 2009

The Department of Enterprise, Trade and Investmentf1 makes the following Order in exercise of the powers conferred by Article 361(2) and (3) of the Insolvency (Northern Ireland) Order 1989f2, with the concurrence of the Department of Finance and Personnel.

Annotations to the whole text

Footnotes

f1

Formerly the Department of Economic Development; see S.I. 1999/283 (N.I. 1), Article 3(5)

f2

S.I. 1989/2405 (N.I. 19)

Contents

  1. 1Citation and commencement
  2. 2Amendments to the Insolvency (Deposits) Order (Northern Ireland) 2006
  3. 3Transitional provisions
  4. Signature
  5. Explanatory note

1Citation and commencement

This Order may be cited as the Insolvency (Deposits) (Amendment) Order (Northern Ireland) 2009 and shall come into operation on 1st October 2009.

2Amendments to the Insolvency (Deposits) Order (Northern Ireland) 2006

(1)

Subject to Article 3, the Insolvency (Deposits) Order (Northern Ireland) 2006f1 (the “principal Order”) shall be amended as provided by paragraphs (2), (3) and (4)—

(2)

In the definition of appropriate deposit in Article 4—

(a)

in paragraph (a), for “£620”, there is substituted “£690”;

(b)

in paragraph (b), for “£310”, there is substituted “£345”; and

(c)

in paragraph (c), for “£370”, there is substituted “£415”.

(3)

In Article 5(1) for “£335”, there is substituted “£315”.

(4)

In Article 5(4) for “deducing” there is substituted “deducting”.

3Transitional provisions

(1)

The amendments made by Article 2(2) (a), (b) and (c), increasing the deposits prescribed by Article 4 of the principal Order, shall apply only to petitions presented on or after 1st October 2009.

(2)

The amendment made by Article 2(3), reducing the fee prescribed by Article 5(1) of the principal Order, shall apply only to notifications sent to the official receiver on or after 1st October 2009.

Signature

Sealed with the Official Seal of the Department of Enterprise, Trade and Investment on 20th May 2009.

L.S.

Michael J Bohill

A senior officer of the

Department of Enterprise, Trade and Investment

The Department of Finance and Personnel concurs with the foregoing Order.

Sealed with the Official Seal of the Department of Finance and Personnel on 20th May 2009.

L.S.

Jack Layberry

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(2) of this Order increases the amount of the various deposits payable pursuant to article 4 of the principal Order. Article 2(3) reduces the amount of the deposit payable under article 5(1) of the principal Order in connection with the notification of an individual voluntary arrangement and the performance by the official receiver of the functions of nominee in relation to such an arrangement.

A Regulatory Impact Assessment (RIA) has not been prepared for this Order but copies of the RIA which was prepared for the Insolvency (Northern Ireland) Order 2005 which deals with the restructuring of the system of insolvency fees are available from the Legislation Unit, Insolvency Service, Fermanagh House, 20A Ormeau Avenue, Belfast BT2 8NJ.