# The Insolvency (Deposits) (Amendment) Order (Northern Ireland) 2011, Note: 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 increases the amount of the deposits payable pursuant to article 4 of the principal Order on presenting a winding-up petition or a bankruptcy petition. In the case of a winding-up petition the amount of the deposit is increased to £1,165. In the case of a bankruptcy petition presented by the debtor the deposit is increased to £525. In the case of a bankruptcy petition presented by a person other than the debtor the deposit is increased to £700.
Article 3 provides that the increases only apply to petitions presented on or after 31st January 2012.
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.

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Source: https://www.legislation.gov.uk/nisr/2011/391/note (the official version)
Page: https://openlegislation.uk/insolvency-deposits-amendment-order-northern-ireland-2011/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.